CHINA-HEALTH EMERGENCY: 2019-nCoV (CORONA) VIRUS EPIDEMIC
The corona virus continues to spread rapidly across China with 17,332 confirmed, another 21,558 suspected cases and 361 deaths in China by the 4th February. In a bid to tackle the epidemic, Chinese authorities have fast-tracked clinical trials by the pharmaceutical drug company Gilead.
The fear of the coronavirus has adversely impacted the economy with stocks, commodities and the Yuan in Chinese financial markets all losing ground. The Shanghai Composite Index dropped by 9 per cent when trading resumed on February 3. The Shenzhen Component Index closed at 8.5 per cent.
Reuters reported (February 4) that Japan’s Honda Motor said it will restart car production February 14 at the Wuhan factory it owns with China’s Dongfeng Motor.
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