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Australian Shares Fall Over 5% On Coronavirus Impact Fears, New Zealand Slips

Australian shares slipped more than 5 percent on Thursday, as a spike in coronavirus cases across the United States and China put a damper on sentiment. 

Australia’s trade minister on Wednesday warned of a possible ban on international travelers till 2021.

In New Zealand, the gross domestic product fell 1.6% in the March quarter, the largest drop in 29 years, as coronavirus restrictions sapped economic activity.

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Coronavirus Update: Victoria Records Biggest Spike In Over A Month

Victoria’s Health Minister Jenny Mikakos announced 21 new cases of coronavirus had been recorded in the state overnight – the highest surge in infections in more than a month.

The infection tally had increased to 1762, with the number of community transmission cases rising by six.

Of the 21 new cases, 15 are returned travelers in mandatory hotel quarantine.

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Google Launched A Free Online Platform To Help Aussie Businesses Network Through The Coronavirus Recovery

Google, PwC and Salesforce launched a free online marketplace called ‘Project Spirit’, which lets Australian businesses work together to address challenges they’re facing during the coronavirus pandemic.

There’s also a curated library of ‘how to’ stories from business that have successfully changed how they work during the pandemic.

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