(Bloomberg) -- The percentage of positive Covid-19 tests reached a record high in the Philippines, fueling fears of a return to stricter curbs on movement and triggering a selloff of stocks as hopes fade for a swift economic recovery. Positivity rates are rising across Asia, a warning sign as countries brace for the highly infectious omicron variant to take hold after delta ripped through the region last year. The positivity rate surged to 46% in the Philippines on Monday, more than four times the level at the end of 2021. Cases jumped with the spread of omicron during the Christmas and New Year's Day holidays. With infections continuing to spike and more than half of the beds in hospitals' intensive care units now occupied, anticipation is building that the government may soon impose fresh restrictions.
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