By EMILY WANG, DAKE KANG and YANAN WANG
Face masks sold out and temperature checks at airports and train stations became the new norm as China strove Tuesday to control the outbreak of a new virus that has reached four other countries and territories and threatens to spread further during the Lunar New Year travel rush.
Anxiety grew both at home and abroad after Chinese government expert Zhong Nanshan confirmed fears on state television late Monday that the new type of coronavirus can spread from human to human.
Six people have died and 291 have been infected in China, the National Health Commission said Tuesday.
The stock prices of some companies that sell masks rose Tuesday, but markets fell in much of Asia as investors worried about the potential impact on tourism and the economy.
Concerned about a global outbreak similar to SARS, another coronavirus that spread from China to more than a dozen countries in 2002-2003, numerous nations have adopted screening measures for travelers from China, especially those arriving from Wuhan, the central city where the virus appears to have originated.
Guards at Wuhan’s airport pointed electronic thermometers at travelers. Several online retailers were sold out of masks, which were being sold for more than 10 times their original price. Users of the popular Weibo social media platform urged others to wash their hands and stay home.
Outside the Wuhan Medical Treatment Center, where many of the coronavirus patients are receiving care, several workers were dressed in full-body biohazard suits, supplemented by goggles, masks and plastic wrapped around their shoes.
In addition to 258 cases in Wuhan, more than 20 have been diagnosed in Beijing, Shanghai, Guangdong province in the south and Zhejiang in the east. Four cases have been confirmed overseas among Chinese travelers in South Korea, Japan and Thailand. A Taiwanese businesswoman who just returned from Wuhan tested positive for the virus, Taiwan’s Centers for Disease Control reported Tuesday.
Fifteen medical workers have also tested positive for the virus, the Wuhan Municipal Health Commission said.
Two cases in Guangdong were people who had not visited Wuhan but fell ill after family members returned from there. Zhong cited those as evidence the disease had spread between humans.
Australia, Japan, South Korea and the U.S. were among the countries increasing airport screenings. Three weekly direct flights from Wuhan to Sydney will be met by border security and biosecurity staff for assessments, chief Australian medical officer Brendan Murphy told reporters.
“Please take every possible precaution,” Japanese Prime Minister Shinzo Abe instructed the health minister and other government departments.
The possibility the virus can be transmitted between people increases the chances it could spread faster and more widely. The Chinese government has estimated people will make around 3 billion trips during the Lunar New Year travel season, but some social media users have said they may stay home due to concern about the virus.
by Tyler Durden
The global risk off wave that started late on Monday as the full extent of the Chinese coronavirus scare became apparent to traders, accelerated overnight and global shares took a beating on Tuesday, wiping out all gains made at the start of the week as US equity futures, Asian stocks and European equities all slumped the red.
Authorities in China confirmed that a new virus could be spread through human contact, reporting 15 medical staff had been infected and a fourth person had died. Safe-haven bonds and the yen gained as investors were reminded of the economic damage done by the SARS virus in 2002-2003, particularly given the threat of contagion as hundreds of millions travel for the Lunar New Year holidays.
"I’m not an expert in the pandemics, but you can look at previous examples like the SARS outbreak which also originated from Asia," said Cristian Maggio, Head of Emerging Markets Strategy at TD Securities in London. Noting that China had initially downplayed the full extent of the SARS outbreak, he said "I think the market might be fearing something similar."
The mood swing saw MSCI’s All-Country World Index slip 0.4%, wiping out gains made at the start of the week on Monday. Asian markets were hit particularly hard, with Hong Kong - which suffered badly during the SARS outbreak - stocks tumbling 2.8% following a rating downgrade and as the coronavirus panic was seen impacting real estate, casino and car stocks, and with Chinese New Year coming up the situation could get even worse. Indeed, the coronavirus outbreak from central China entered a new phase of severity as multiple medical workers were reported to have been infected.
No comments:
Post a Comment