(15 JUNE 2020)DAILY MARKET BRIEF 1: The second-wave sell-off.

<p>The rising anxiety that the second wave of Covid-19 is about to hit the global economy is weighing on the market mood at the start of the week. Surging cases from China to US are increasingly worrying investors that another economic shutdown could be around the corner for everyone, after Beijing closed the city’s largest fruit and vegetable supply center. Fear of another global shutdown will likely push risk investors to the sidelines this week. Meanwhile, the recovery in Chinese industrial production fell short of analyst expectations in May, as retail sales and fixed asset investment declined more than expected. The People’s Bank of China (PBoC) maintained the MLF rate unchanged for the second straight month. Equities in China traded flat on soft economic news and no further monetary support for the moment. Elsewhere in Asia, most markets fell. Stocks in Australia lost 1.17%, the Hang Seng (-0.62%) and the Nikkei (-1.36%) edged lower. European and US stock indices will likely give ba</p>