Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Thousands of U.S. small-business owners are considering layoffs in coming months as they plow through government aid

• Sweden’s finance minister says the country’s light-touch lockdown may have contributed to a less severe contraction in the economy

• Indonesia’s government will spend aggressively in the coming months to support a nascent economic recovery after measures to contain the coronavirus pandemic sent Southeast Asia’s largest economy into its first contraction in more than two decades

• A key battle over the future of fossil fuels and climate change will soon be decided in a sleepy corner of Australia

• Cleveland Fed President Loretta Mester says it’s “clear that more fiscal support is needed to provide a bridge” for households and small businesses

• Thailand can spark a revival in foreign investment and stimulate its economy by creating alternative quarantine programs for foreign business travelers, according to a group of industry associations

• Malaysia’s technology cluster in Penang is helping drive an economic recovery that could see the country bounce back faster than any of its peers in Southeast Asia

• Brazil cut its key interest rate by a quarter point to an all-time low and didn’t rule out additional reductions as policy makers seek to stimulate an economy ravaged by the coronavirus pandemic

• Activity in emerging markets has slowed even further, alternative data shows, writes Bjorn van Roye

• Across Hong Kong, among the thousands of restaurants, shops, and other small businesses participating in support of anti-government protests, signs of defiance have emerged in the weeks

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