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Japan offers Avigan for free to countries fighting coronavirus

  
  Analysis
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The flu drug Avigan will be made available at no cost to countries that ask for it to treat the novel coronavirus, the Japanese government announced Friday.

Chief Cabinet Secretary Yoshihide Suga told a news conference that about 30 countries have sought Avigan through diplomatic channels. “We are making arrangements to provide it for free,” he said.

Doing so will help expand clinical research into the drug, Suga said. At 2,617 cases as of Friday, Japan has relatively few of the more than 1 million infections worldwide, making broad clinical trials difficult.

Indonesia ordered 2 million doses of Avigan on March 20, and the country plans to begin clinical testing once the shipment arrives. The country has seen coronavirus cases there surge to 1,986, after going weeks without confirming infections in the early stages of the epidemic. Indonesia now has 181 deaths, placing it higher than South Korea, and second only to China in Asia.

Japan has also received a request from Turkey. Turkish Health Minister Fahrettin Koca met with Akio Miyajima, the Japanese ambassador to Ankara, last month and inquired about acquiring Avigan, diplomatic sources told the Nikkei Asian Review. (more…)

Trump drops idea of New York lockdown as U.S. death count crosses 2,000

  
  Analysis
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President Donald Trump said on Saturday that he would issue a travel warning for the hard-hit New York area to limit the spread of the coronavirus, backing off from an earlier suggestion that he might try to cut off the region entirely.

“A quarantine will not be necessary,” he said on Twitter.

Trump’s announcement came as the U.S. death count crossed 2,100, more than double the level from two days ago. The United States has now recorded more than 122,000 cases of the respiratory virus, the most of any country in the world.

Since the virus first appeared in the United States in late January, Trump has vacillated between playing down the risks of infection and urging Americans to take steps to slow its spread.

Trump said on Saturday afternoon that he might impose a ban on travel in and out of New York and parts of New Jersey and Connecticut, the U.S. epicenter of the disease, to protect other states that have yet to bear the brunt. He offered few specifics.

Critics promptly called the idea unworkable, saying it would cause chaos in a region that serves as the economic engine of the eastern United States, accounting for 10 percent of the population and 12 percent of GDP. (more…)

China official PMIs February: Manufacturing 35.7 (expected 45.0) Non-manufacturing 29.6 (expected 51.0)

  
Analysis, Economy
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China’s economy was hit hard right from the Lunar New Year holiday and the weeks after from the coronavirus outbreak.

  • deaths now number >3,000 in China
  • Severe travel restrictions
  • Severe actions on public health
  • Business closures
Manufacturing 35.7, this is the lowest ever recorded for this indicator.
  • expected 45.0, prior 50.0
Non-manufacturing 29.6 … I mentioned during the week I was surprised the ‘expected’ for this was still in expansion. And here we are, deepest in contraction ever recorded
  • expected 51.0, prior 54.1
Composite 28.9
  • prior 53.0
China's economy coronavirus outbreak. 

China, Japan, & South Korea at risk of a second wave of disruptions to their supply chains

  
  Analysis
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South China Morning Post  on what is coming next –  ‘second wave’ of coronavirus economic impact

  • China, Japan and South Korea are at risk of a second wave of disruptions to their supply chains due to the ongoing impact of the coronavirus epidemic, which risks already slowing global trade, analysts warned.
  • The three Asian countries contribute around 24 per cent of the entire world economy with a combined yearly trading volume of over US$720 billion, forming one of the most integrated international economic blocs in the world.
Here is the link for more.

South China Morning Post  on what is coming next -  'second wave' of coronavirus economic impact 

British Airways suspends bookings of direct flights to China until March

  
  Analysis
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In response to the coronavirus outbreak situation

The airline has halted bookings on its website for direct flights from London to Beijing and Shanghai until March, after warnings over travel to China.

They are still offering connecting flights though, with the layover being in Hong Kong (mostly) before passengers have to continue with a different airline.

Reuters tried to get in contact with BA on the matter, but a spokeswoman just said that they were “assessing the situation”.

If we do see more airlines and countries take more drastic measures, expect that to weigh further on the Chinese economy and in turn, the global economy to start the year.

Asian stocks slide as coronavirus fears spook markets : Nikkei 225 closes lower by 2.03% at 23,343.51

  
Analysis, Global Indices
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Asian stocks slide as coronavirus fears spook markets

Nikkei 27-01

There’s still a high degree of uncertainty involving the new coronavirus outbreak situation and that is keeping markets very nervous to kick start the week.

Chinese markets may be closed but A50 futures are taking a beating – even down by over 5% earlier – as risk aversion continues to flow throughout markets.
US 10-year yields are down to their lowest level since October, 4.8 bps lower on the day at 1.635% as we look towards European trading. Meanwhile, the likes of the yen and gold are bid as safety flows are the name of the game to start the day.
USD/JPY sits at 109.05 currently while commodity currencies such as the aussie and kiwi are also being weighed lower, alongside the offshore Chinese yuan.

China imposes restrictions on travel to Beijing

  
  Analysis
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More signs of how serious Beijing is taking the epidemic

Bus travel corona virus
China reported 10 new coronavirus cases in Beijing today and there are now 51 cases in the city.
The latest restrictions prevent bus travel to Beijing from elsewhere. Private cars and trains are still allowed but passengers via those methods are more-often tracked.
As CNBC Beijing correspondent Eunice Yoon reports:

(more…)

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