Brazil posts record daily new cases

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 3.74 million
• Global deaths: At least 263,000
• Most cases reported: United States (1,227,430), Spain (220,325), Italy (214,457), United Kingdom (202,356), France (174,224). 

The data above was compiled by Johns Hopkins University as of 8:20 a.m. Beijing time. 

All times below are in Beijing time.

The Philippine economy shrank by 0.2% year-over-year in the first quarter — the first contraction since the fourth quarter of 1998, according to the latest data release by the country’s statistics authority.

A Reuters poll of analysts had expected the Philippine economy to grow by 3.1% year-over-year in the first quarter. 

The unexpected decline in gross domestic product came as the government locked down the main Philippine island of Luzon in an attempt to contain the spread of the coronavirus. Luzon is home to capital city Manila and around half of the country’s 107 million population. 

Some lockdown measures have been relaxed since the start of this month, but strict stay-home orders still apply in Manila.

The Southeast Asian country has reported 10,004 coronavirus cases as of Wednesday, with a death toll of 658, according to its department of health. — Yen Nee Lee

New Zealand said that shops could reopen and domestic travel could resume, if restrictions are further eased by next week, according to a Reuters report.

Its highest level of restrictions were eased on April 28 as cases fell in the country, and now it’s considering whether to lower its nationwide alert level from 3 to 2. If it does, people will be able to meet friends and family, or go shopping but still have to adhere to physical distancing while outside.

Prime Minister Jacinda Ardern said that if the alert level was lowered to 2, children can return to schools and employees can go back to work at offices, but the country’s borders will stay closed except to returning citizens, according to the report. A decision on whether to lower restrictions will be made on Monday. — Weizhen Tan

Germany reported 1,284 new cases — a jump from the 947 new infections a day earlier. That took its tally of confirmed cases to 166,091, according to the latest data by the Robert Koch Institute, a federal government agency responsible for disease monitoring and prevention. 

The country’s death toll rose by 123 to 7,119. 

On Wednesday, Germany’s Chancellor Angela Merkel announced steps to ease the lockdown, but also launched an “emergency brake” mechanism where restrictions could be imposed again if cases pick back up, according to Reuters. — Weizhen Tan

South Korea reported four new cases and one death, taking its total to 10,810 cases and 256 fatalities, according to the Korea Centers for Disease Control and Prevention.

The country further relaxed social distancing rules on Wednesday, with businesses re-opening gradually. It also allowed gatherings and events to take place as long as people follow disinfection guidelines. Parks, libraries and schools are set to reopen gradually, according to Reuters. — Weizhen Tan

Officials in Los Angeles county said that businesses including book shops, toy stores, clothing retailers and car dealerships will be allowed to start opening on Friday, though beaches will remain closed.

However, shoppers can only pick up their purchases curbside, with in-store purchases not allowed for the time being, according to officials.

County trails will also reopen, but those using them will have to wear face coverings and observe social distancing. GOld courses can also reopen. — Ari Levy, NBC News

American Airlines will require all team members to wear face coverings while they are at work starting Friday, especially those interacting with customers. The airline previously required crew members and passengers to wear face masks. 

A number of major U.S. airlines have said they will require travelers to wear face masks or coverings on board their planes as carriers take steps to try to protect the health of passengers and crew. Delta, United and others have made them mandatory for flight attendants. — Phil LeBeau

China reported both its two new cases were imported, or attributed to travelers coming from overseas. There were no new deaths, with total fatalities remaining at 4,633, according to its National Health Commission.

Separately, there were six 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 880, the NHC said. — Weizhen Tan

Brazil reported 10,503 new confirmed cases in the last 24 hours, a record high well above its previous high of 7,288 cases on April 30, according to Reuters, citing health ministry data. Fatalities rose by 615, also a new high compared with the 600 reported Tuesday.

That prompted Brazil’s health minister to warn that strict lockdowns could be imposed in badly-affected areas, the report said. While nonessential businesses are closed in most states in the country, a lockdown has so far been implemented in only one city — Sao Luis.

Brazil has reported a total of 125,218 cases and 8,536 deaths, according to Reuters. — Weizhen Tan

Yale University senior fellow Stephen Roach is worried Wall Street is miscalculating China’s efforts to reopen its economy.

He warned that demand is poor, and that’s a bad sign for the U.S. economy as it begins reopening. 

“Chinese consumers remain fearful of going out in public, shopping, going to movies and enjoying activities that put them in close proximity with their neighbors,” the former Morgan Stanley Asia chairman told CNBC’s “Trading Nation” on Wednesday. “Consumer behavior is not all that dissimilar in populations subjected to an unprecedented shock in their health security.”

“This is not really going to be as easy an economic recovery as an optimistic market wants to presume at this point,” he said. — Stephanie Landsman