Investors worried about the spread of the coronavirus wiped more than $400 billion off the value of China’s stocks in the first trading session after an extended Lunar New Year break while the death toll from the epidemic rose to 361
BEIJING/SHANGHAI - Investors worried about the spread of the coronavirus wiped more than $400 billion off the value of China’s stocks in the first trading session on Monday after an extended Lunar New Year break while the death toll from the epidemic rose to 361.
The number of deaths in China rose to 361 as of Sunday, up 57 from the previous day, the National Health Commission said. The number of new confirmed infections in China rose by 2,829, bringing the total to 17,205. Looking to head off panic, China’s central bank injected 1.2 trillion yuan of liquidity into the markets via reverse repo operations on Monday.
Wuhan and other cities remain in virtual lockdown with travel severely restricted, and China is facing mounting international isolation as well due to restrictions on flights to and from the country.At least another 171 cases have been reported in more than two dozen other countries and regions, including the United States, Japan, Thailand, Hong Kong and Britain.
While countries have been trying to block the virus with travel bans, they have also been trying to get their stranded citizens out of locked-down Wuhan.
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