Coronavirus live updates: India’s cases surpass 70,000; Asia at risk of a second wave

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This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks.

  • Global cases: More than 4.17 million
  • Global deaths: At least 285,690
  • Most cases reported: United States (1,346,723), Spain (227,436), United Kingdom (224,332), Russia (221,344), and Italy (219,814). 

The data above was compiled by Johns Hopkins University as of 7:57 a.m. Beijing time. 

All times below are in Beijing time.

9:12 am: South Korea reports 27 new cases amid concerns over second wave

South Korea on Tuesday reported reported 27 new cases of the coronavirus, said the Korea Centers for Disease Control and Prevention. Cases have ticked up since the weekend as Seoul was relaxing social distancing measures.

The country had eased those policies after daily new cases fell to the single digits in recent weeks.

A cluster of new cases tied to nightclubs in the capital have sent authorities scrambling as they order such entertainment outlets to close again.

Thousands of clubgoers have been tested and more are being tracked down.The education ministry also put off the reopening of high schools by one week in light of the new outbreak. That had been scheduled to begin Wednesday.

The new cases reported on Tuesday takes the total number of infected people to 10,936. There were two more deaths, bringing the toll to 258. —Huileng Tan

8:13 am: China reports 1 new case, 15 asymptomatic cases

China’s National Health Commission reported one new case of the coronavirus as of Monday, down from 17 new cases the day before.

That takes the total number of infected people to 82,919, according to government data. The new case was an imported one, attributed to a traveler from overseas.

There were no additional deaths, keeping the toll at 4,633.

The health authority reported 15 new asymptomatic cases, where the infected do not display symptoms. —Huileng Tan

8:06 am: Global death toll crosses 285,000

The total death toll for the coronavirus has surpassed 285,000 globally, according to Johns Hopkins University, as worldwide infections continue to climb above 4.1 million.

The outbreak has tapered off in China, according to government data. Economies around the world are reopening after lockdowns while taking precautions such as social distancing.

Authorities are on the alert for a second wave of infections as people start to mingle again. —Huileng Tan

South Korean commuters wear protective masks as they crowd on an escalator and stairs after getting off the subway during rush hour on May 11, 2020 in Seoul, South Korea.

Chung Sung-Jun | Getty Images

8:02 am: Corporate debt issuance stays on record pace

Another $25.7 billion in investment grade bonds hit the market on Monday, coming on the heels of $100 billion issued last week.

Corporate debt issuance is continuing at a record pace after the Federal Reserve announced that it would begin buying corporate debt by early May, CNBC’s Patti Domm reports.

Now that mid-May is here, investors are looking to the Fed for guidance on what’s next. —Hannah Miller

Read CNBC’s coverage from the U.S. overnight: White House requires masks for staff, Western states ask for $1 trillion in aid

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