China’s new cases rise above 100

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  • Global cases: At least 1,846,680. 
  • Global deaths: At least 114,090.
  • Most cases reported: United States (555,313), Spain (166,831), Italy (156,363), France (133,670), Germany (127,854). 

The data above was compiled by Johns Hopkins University as of 8:05 a.m. Beijing time. 

All times below are in Beijing time.

8:45 am: Mainland China reports 108 new cases

The number of new cases in mainland China ticked up again, past the 100-mark. The National Health Commission said the country had 108 new confirmed cases as of April 12, with 98 attributed to travelers from overseas.

It said there were two more deaths in the country. That brings the country’s total to 82,160 confirmed cases, and 3,341 fatalities. 

Separately, China reported 61 new asymptomatic cases, where people tested positive for the virus but did not show any symptoms. That brings its number of asymptomatic cases currently under medical observation to 1,064, the NHC said. 

8:30 am: Singapore reports 233 new cases

Singapore reported 233 new cases as of noon on April 12, according to its health ministry. It said 167 of those cases have no links to known clusters or cases.

The Southeast Asian city-state had been praised for managing the coronavirus outbreak well as compared with other countries, and had kept daily numbers generally low — well below the 100 case-mark up until around March. But in recent weeks, Singapore has seen cases spike, with a record daily high of 287 cases reported last week.

Many recent cases have been attributed to outbreaks at several dormitories housing foreign workers. The country started shutting down schools, offices and shops last week. Those closures will last till the first week of May. — Weizhen Tan

8:25 am: Kia Motors wants to suspend three factories as outbreak hits exports

Kia Motors told its labor union that it wants to suspend operations at three of its factories in South Korea as the outbreak hits exports to Europe and the U.S., Reuters reported, citing a union official.

The operations would be suspended from April 23 to April 29, it said. Shares of Kia Motors fell 3.39% in the morning. — Weizhen Tan

8:15 am: Mexico reports 442 new cases

Mexico reported 442 new cases and 23 more deaths, its health ministry said, according to a Reuters report. That brings its total to 4,661 cases and 296 fatalities. — Weizhen Tan

All times below are in Eastern time.

5:22 pm: Robert Shiller warns pandemic of fear could tip economy into a depression

Nobel-prize winning economist Robert Shiller warns a pandemic of fear could tip the economy into an undeserved depression.

Shiller, an expert in how our emotions drive financial decisions, finds the sheer volume of chatter surrounding depression risks due to the coronavirus could severely hurt the economy.

“This isn’t the same story as the Great Depression. The Great Depression lasted ten years. They didn’t have an unemployment rate under 12% until the decade was over,” the Yale University professor told CNBC’s “Trading Nation” on Thursday. “It’s a popular narrative. But this is a pandemic. It shouldn’t last ten years. It should be over in one or two years.” —Stephanie Landsman

3:29 pm: Nursing home deaths in the US soar past 2,700

More than 2,700 deaths in the U.S. have been linked to coronavirus outbreaks in nursing homes and long-term care facilities, an alarming rise in just the past two weeks, according to the latest count by The Associated Press.

The latest count of at least 2,755 deaths is up from about 450 deaths just 10 days ago. But the true toll among the 1 million mostly frail and elderly people who live in such facilities is likely much higher, experts say, because most state counts don’t include those who died without ever being tested for Covid-19.

Experts say the deaths may keep climbing because of chronic staffing shortages in nursing homes that have been made worse by the coronavirus crisis, a shortage of protective supplies and a continued lack of available testing. —Associated Press

1:13 pm: Italy’s daily death tally lowest since March 19

Deaths from the Covid-19 epidemic in Italy rose by 431, down from 619 the day before, and the number of new cases slowed to 4,092 from a previous 4,694. The tally of deaths was the lowest daily rise since March 19.

The total death toll since the outbreak came to light on Feb. 21 rose to 19,899, the Civil Protection Agency said, the second highest in the world after that of the United States. The number of officially confirmed cases climbed to 156,363, the third highest global tally behind those of the United States and Spain. — Reuters

Read CNBC’s coverage from the U.S. overnight: Nursing homes see surge in deaths, Italy daily coronavirus death toll falls to lowest in weeks.

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