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Corona Virus Death Toll at 362; China Virus Update

Coronavirus China

The death toll for the coronavirus has now risen past 361 humans, and the total number of people being infectious of the virus has reached almost 17,400. Chin’s officials are now evaluating cuts to their country growth forecast for 2020, and the central bank has intervened to help the damage to the economy.

Stocks related to Chinese origins have fallen the most since 2015. While efforts have been international to help slow down the spread of the virus, China has accused the USA of “overreacting”

Key Virus Developments:

  • China deaths at 361, with infectious cases in China at 17,205
  • The Philippines confirms first death outside of China; U.S.A confirms more cases
  • The Chinese government reports the U.S.A is “overreacted” to virus
  • China’s worst stock fall in years, with 3,257 shares down
  • Hong Kong closing more checkpoints

China Contemplate Lowering 2020 Growth Forcast (6:30 a.m. NY)

China officials are debating whether the economic growth forecast should now be lowered for 2020. Other measures are now being considered, such as increasing the cap budget deficit-to-GDP ratio,  and selling extra special government bonds.

Forecasts predicted growth of around 6% for 2020 after the growth pattern of 6% to 6.5% in 2019.

Force Majeure Considered by China’s largest LNG Buyers (6:50 p.m. HK)

The state owned liquefied natural gas importers are debating whether a force majeure on contracted deliveries.

Crop Cargoes Waiting at China Ports as of Virus Restrictions (6:13 p.m. HK)

Some of the Chinese ports are restricting deliveries of agricultural goods. While China’s economic planner has released a statement saying, the food supply will be stable, and prices will not rise.

WHO Director-General Says Coronavirus is to be Stabilised at its Source (5:57 p.m. HK)

To minimise the spread of the coronavirus, the virus needs to be tackled at the source of the outbreak, and countries need to cooperate fully. WHO Director-General Tedros Adhanom Ghebreyesus, released a statement saying “There is no reason for any measures that unnecessarily interfere with international travel and trade.”

More Checkpoints Closed by Hong Kong (5:23 p.m. HK)

Hong Kong will be closing more checkpoints, to include two major land ports, at midnight 03/02/2020. Chief Executive Carrie Lam has said only 3 out of 13 checkpoints will remain open. To include; Hong Kong-Zhuhai-Macau Bridge port, Shenzhen Bay port,  and Hong Kong airport. Hong Kong health workers that are on strike have advised all entry points should be closed.

China’s New Year Travel Volume Fell around 73% (4:40 p.m. HK)

Due to the virus, the travel of people celebrating the China Lunar New Year, has fallen around 73%, figures equate to around 190 million from last year. This is due to the prohibition of travel.

Indonesia Considering Temporarily Stopping Food Imports From China (4:22 p.m. HK)

The Indonesia government said they are considering alternative sources for food imports. A meeting will be held in due course to assess the needs for this action.

China Criticises U.S.A for ‘Overreaction’ (3:56 p.m. HK)

China has released a statement saying that the U.S.A has “inappropriately overreacted” to the coronavirus originating on mainland China, they have also expressed that U.S.A have not provided much help, to help minimise the spread of the outbreak.

“The U.S. government hasn’t provided any substantial assistance to us, but it was the first to evacuate personnel from its consulate in Wuhan, the first to suggest partial withdrawal of its embassy staff, and the first to impose a travel ban on Chinese travelers,” Chinese foreign ministry spokeswoman Hua Chunying said on Monday 03/02/2020.

Distribution of The Coronavirus 03/02/2020

Coronavirus geographical distribution world-3 February 2020

PBOC blames Stock Plunge on “Herd Effect” (3:46 p.m. HK)

PBOC said the stock slump on Monday was because of “irrational” influence. PBOC-backed Financial News has said the state of China’s economy is tempory and limited.

Russia Could Deport Foreigners Who are Contagious With Coronavirus (3:45 p.m. HK)

Russia have said they could start deporting foreign citzens who are contagious with the Coronavirus, this will be part of an initiative to minimise the threat to Russia, signed by Prime Minister Mikhail Mishustin

Russia has also released via Mishustin, it will postpone, Sochi Economic Forum, which is to be held February 12-14 2020.

On Friday 31/01/2020 Russia reported two cases of Coronavirus.

Germany Discloses It’s Prepared for the Epidemic (3:09 p.m. HK)

Germany has released that it is prepared to handle an epidemic, and has sufficient quarantine facilities to contain patients who are contagious. However, the Health Minister Jens Spahn said in an interview with ARD, the Coronavirus is below that threshold of an epidemic at present.

“We’re prepared for the current situation,” discloses Spahn. “We have plans for every development. Even if there was a flu epidemic, we’d have plans.”

He has also disclosed, the importance of taking precautions, as the virus is still being researched, so it is not fully understood. “With 10 cases of coronavirus in Germany, we’re far away” from the classification of an epidemic. Spahn has also stated that all infected patients are in a good position.

Thailand Results From Experimental Drug Mixture (2:44 p.m. HK)

An experimental cocktail of antiviral drugs has been administered and proving effective in treating a patient suffering from the Coronavirus, a Thai health official has released.

The experimental cocktail consists of; HIV medicines lopinavir and ritonavir, produced by AbbVie Inc. These drugs were used in conjunction with anti-flu medication oseltamivir, produced by Roche Holding AG and Chugai Pharmaceutical Co. Information via; Tamiflu, Somkiat Lalitwongsa, director of the Rajavithi Hospital in Bangkok

Also, China has started a clinical trial to test an experimental drug to help cure the virus. Remdesivir, will be tested by a medical team in Beijing based China Japan Friendship Hospital for effectively treating the Coronavirus.

U.S.A to Deploy Extra Evacuation Flights to China (2:31 p.m. HK)

The U.S>A has released it will be deploying a “handful more” flights to bring back U.S. citizens from China’s Hubei area. The U.S Secretary of State has said the U.S.A may bring citizens from other countries as well.

Hong Kong Medical Workers Take Strike (2:16 p.m. HK)

Hong Kong medical workers have taken part in a 5 dayu strike from Monday, this was after the government refused to close entry points from China.

Virus Increased Desths in Hubei Province (12:45 p.m. HK)

65% of Coronavirus infections are localized in the mainland province of Hubei. This is where the outbreak originated from, and where residents are in a current lockdown. The virus has also been reported to be more deadly in Hubei, where figures released show 97% of the 361 deaths have happened in Hubei.

U.S. Reports Additional Virus Cases (11:20 a.m. HK)

U.S has reported two more cases in the state of California, in San Benito County. Now the number of infected patients in U.S is 11.

Chinese Stocks, and Commodities Crash as Markets Reopen (9:38 a.m. HK)

Chineses stocks have fallen the most since 2015, when the equity bubble burst. CSI Indes has dropped as much as 9.1%.

Major commodity were effected via high selling, as investors tried to return to more stable markets. This is because of the fear gripped over the coronavirus will bring on raw materials. China benchmark iron ore fell by 8%, while crude, copper, and palm oil sank by the maximum allowed.

With the help of China injecting cash into the financial system, the rates reduced. Borrowing was cut by 10 basis points.

China Virus Cases Above 17,000 (8:12 a.m. HK)

57 more deaths have been reported bringing total deaths to 361, as of 02/02/2020 – released via the Ministry of Health. Infections rose to 17,205, in the last 24 hours there have been 2,829 cases. Of these 2,296 cases are severe.

U.S. Adds Number of Airports for Virus Screening (8:01 a.m. HK)

The U.S has added another 11 airports who will accept flights from passengers who have visited China. These airports will perform screening for any signs of the Coronavirus, this follows restrictions that took place on Sunday 03/02/2020 to stem the spread of the infection.

The Transportation Security Administration released; airports in Dallas, Newark, Detroit, and Washington will accept these flights from Monday. Accepting airports will now include; Atlanta, Chicago, Los Angeles, Honolulu, New York, San Francisco, and Seattle.




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