GLOBAL MARKETS-Asian stocks under pressure after spike in coronavirus cases

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

By Jessica DiNapoli
NEW YORK, June 23 (Reuters) - Asian stocks were expected to
come under pressure on Wednesday, as a spike in new coronavirus
infections weighed on sentiment, although U.S. assurances that
the China trade deal was intact and upbeat economic data
provided some reasons for optimism.
Kyle Rodda, market analyst at IG Markets, said late selling
seen in Wall Street suggested a "soggy start" for Asian markets.
"We expect something of a positive start for Asian trade,
but we will have overhanging concern about the virus itself and
a second wave unfolding," said Kyle Rodda, market analyst at IG
Markets. "The market is clinging on to a recovery as much as it
can."
Australian S&P/ASX 200 futures YAPcm1 rose 0.15% in early
trading.
Japan's Nikkei 225 futures NKc1 fell 0.02%. Hong Kong's
Hang Seng index futures .HSI HSIc1 lost 0.01%.
On Wall Street, the Dow Jones Industrial Average .DJI
ended 0.5% higher, the S&P 500 .SPX gained 0.43% and the
Nasdaq Composite .IXIC added 0.74%.
However, the three major indexes pared gains from highs of
more than 1% earlier in the session on Tuesday. Coronavirus cases in the U.S. surged 25% in the week ended
June 21 compared from the week before, according to a Reuters
analysis.
U.S. states including Texas and Arizona set records in their
outbreaks. The European Union is prepared to bar U.S. travellers
because of the surge of cases in the country, putting it in the
same category as Brazil and Russia, the New York Times reported
on Tuesday. "For now markets are having trouble with the implications
given the high bar to re-imposing restrictions," according to a
research note from the National Australia Bank.
Remarks from U.S. Treasury Secretary Steven Mnuchin helped
boost the mood on Wall Street. He said the next U.S. stimulus
bill will focus on getting people back to work quickly and that
he would consider a further delay of the tax filing deadline.
MSCI's gauge of stocks across the globe .MIWD00000PUS
gained 0.90%.
The euro jumped to one week highs after positive economic
data on Tuesday, and other high-risk currencies strengthened.
The dollar index =USD fell 0.228%, with the euro EUR= up
0.01% to $1.1307.
Oil prices pulled back after hitting their highest since
early March, on expectations that U.S inventories will hit a
record high for a third week in a row. U.S. crude CLc1 recently fell 0.89% to $40.01 per barrel
and Brent LCOc1 was flat on the day.