Global markets start the week in risk aversion as global outbreak of China’s Wuhan coronavirus intensified over the weekend. South Korea is suffering most with a total of 763 confirmed cases and 7 deaths. The country is put on high alert in response to the community outbreak. Total cases in Japan rose to 838, including Diamond Princess liner, with 4 deaths. Cases in Iran also surged to 43, with 8 deaths.
Cases in Italy also exploded, with 152 cases and 3 deaths. Prime Minister Giuseppe Conte told state broadcaster RAI, “I was surprised by this explosion of cases.” Health authorities also warned, “if we cannot find ‘patient zero’ then it means the virus is even more ubiquitous than we thought.”
Back in China, where the outbreak originated, according to the numbers claimed by the National Health Commission, total cases now stand at 77150, death tolls hit 2592. President Xi Jinping warned “at present, the epidemic situation is still severe and complex, and prevention and control work is in the most difficult and critical stage”. “For us, this is a crisis and is also a big test,” he added. Yet, Xi is still pushing for production restoration in some perceived low- and medium- risk provinces.