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Analysts expect a sharp economic contraction in the second quarter. Unemployment is expected to spike and consumers are expected to reduce spending. Consumer spending represents about 70 percent of the US economy. A sharp reduction in spending and demand could lead to a downward spiral.

An online charity program that matches money donors with poor children born on the donors' birthdays blamed human error after pictures of some youngsters appeared in multiple profiles, raising suspicions among netizens.

Analysts said the government's plans for the new area will likely further boost sentiment toward stocks of related companies headquartered in Beijing, Tianjin and Hebei province.

Anhui province, for example, has been granted incentives and encouragement in its effort to nurture strategic emerging industries for two consecutive years. In 2017, strategic emerging industries in Anhui grew by 21.4 percent, contributing 31.4 percent of the province's total industrial output growth. Zhoushan in Zhejiang province－where the city's private investment grew by 23 percent in 2017 －has received such awards for two consecutive years for issuing corporate bonds.

Andrews also confirmed on Friday that two people had lost their lives as a result of the Victorian fires this week, taking the national death toll for the season to 19.