Markets can cope even if there is big risk as long as we can see the end, but no-one can tell how long this will last and how severe it will get, one analyst says
Chinese President Xi Jinping inspects the coronavirus prevention and control work at Anhuali Community in Beijing, China, on February 10 2020. Picture: XINHUA VIA REUTERS
“The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.Mainland China — where the virus originated late in 2019 — reported 327 new cases on Friday, the lowest since January 23, taking its total cases to more than 78,800 with almost 2,800 deaths.
Outside China the virus has spread to another 46 countries, where about 3,700 cases and 57 deaths have been reported, according to the WHO. In Europe, France's number of reported cases doubled, Germany warned of an impending epidemic and Greece, a gateway for refugees from the Middle East, announced tighter border controls.The death toll in Italy, Europe's worst-hit country, rose to 17 on Thursday and the number of people who tested positive for the illness increased by more than 200 to 650. Germany has 45 cases, France 38 and Spain 23, according to a Reuters count.
US intelligence agencies are monitoring the spread of coronavirus in Iran as well as India, where only a handful of cases of have been reported, sources familiar with the matter said.Japan is scheduled to host the 2020 Olympics in July but the head of the WHO's emergency programme, Dr Mike Ryan, said discussions were being held with organisers about whether it should go ahead.
The coronavirus has played havoc with global aviation and tourism as airlines cancel flights, countries ban visitors from hot spots and nervous passengers put off travel.
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