Coronavirus update: Mainland China reports 17 new cases amid new infections in Wuhan

Fears over the second wave of the coronavirus spread resurfaced on Monday, after China’s National Health Commission (NHC) reported 17 new cases in the mainland on May 10, rising from a day earlier and marking the highest daily increase since April 28.

Seven of those cases were so-called imported cases in Inner Mongolia involving travellers from overseas.

Wuhan, the epicentre of the outbreak in China, reported five new locally transmitted COVID-19 cases, the highest since March 11, per Reuters.

Meanwhile, the number of asymptomatic infections fell to 12 on Sunday compared with 20 reported a day earlier.

Market reaction

The re-opening of the global economies from the virus led lockdowns seems to have lifted the market sentiment heading into a fresh week. Although, the scare over the second virus wave keeps the investors on the edge.

USD/JPY consolidates the uptick to 107.02 while AUD/USD trades with solid gains above 0.6550. The Asian stocks, US stock futures and Treasury yields flash green amid risk-on while the greenback’s recovery is seen fizzling out.