Market sentiments stabilized in Asian markets today. China’s Hubei province reported just 4823 additional confirmed coronavirus cases. The figure suggests that yesterday’s massive 15000 new cases was just a one-off due to change in counting methods. Total cases in China rose 5090 to 63851. Death tolls rose 121 to 1380 with 108 cases removed due to double-counting.
IMF spokesman Gerry Rice said there’s “a lot of uncertainty” regarding China’s Wuhan coronavirus outbreak, and “it’s fast moving”. It’s too early to gauge the impact of the Chinese and global economy. IMF would hope to have more insights when G20 meet in Saudi Arabia at the end of next week.
Nevertheless, he added, “over the medium to long term we remain confident that China’s economy is resilient. “It’s a large economy, and China has the resources and the resolve to meet this challenge.”