first-res Australian Stock Exchange (ASX) Listed Companies

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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first-res coronavirus spike 2021

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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res.com Economy

Coronavirus Warning: Second COVID-19 Wave Would Derail Economy

The Organisation for Economic Co-operation and Development (OECD) warns about the second wave of coronavirus in Australia would come at a $25 billion cost to the economy. 

The economy would then grow by just one percent next year. Unemployment would average of 7.6 percent this year and then 8.8 percent next year. The virus has infected 7.2 million people worldwide.

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