
U.K. Reports Four More Cases; Death Toll Hits 910: Virus Update
(Bloomberg) -- The death toll from the coronavirus outbreak reached 910, higher than during SARS. Britain reported four more cases and warned of a serious, imminent threat to public health. Globally, 40,626 have been infected so far.
Meanwhile, the number of infections among those aboard a cruise liner quarantined off Japan has almost doubled to 136, the biggest outbreak outside China.
European and Asian stocks slipped with U.S. futures as investors gauged the impact of the outbreak.
Key Developments
U.K. Confirms Four More Cases (5:49 p.m. HK)
Four further patients in England have tested positive for the coronavirus, bringing the total number of cases in the U.K. to eight. The new cases are all known contacts of a previously confirmed U.K. case, and the virus was passed on in France.
Hong Kong’s Richest Tycoon Donates $13 Million (5:25 p.m. HK)
The Li Ka Shing Foundation donated HK$100 million ($13 million) to help Wuhan, the city at the epicenter of the outbreak. The money will be distributed via the Red Cross Society of China,
Li Ka-shing, 91, has a net worth of about $28.3 billion, according to the Bloomberg Billionaires Index.
Taiwan to Temporarily Ban Entry of HK, Macau Residents (5:24 p.m.)
Residents from Hong Kong and Macau are barred from entering Taiwan starting from Feb. 11 as the island tries to contain the coronavirus. Those approved for entry will be quarantined for 14 days on arrival.
Taipei-Hong Kong is one of the busiest international flight routes.
WHO Watching 10 Chinese Provinces as Possible Hot Spots (5 p.m. HK)
The World Health Organization is closely watching other Chinese regions for signs that new infection hot spots are emerging as the outbreak spreads beyond the epicenter of Hubei.
The 10 provinces, including Zhejiang, Guangdong and Henan, have seen numbers of cases slowly rise, WHO’s China Representative Gauden Galea, said in an interview on Bloomberg TV Monday
HK Loses Contact With Two People in Quarantine (4:51 p.m. HK)
The government lost contact with two people who are in mandatory quarantine and the police have issued wanted notices, Radio Television Hong Kong reported, citing Sophia Chan, the city’s secretary for food and health. A total of 1,193 are now under quarantine and 90% of them are Hong Kong residents, Chan said.
The Asian financial hub started a mandatory two-week quarantine for mainland arrivals on Saturday as it tries to contain the novel coronavirus.
Global Growth Could Stall, Capital Economics Says (4:04 p.m. HK)
The outbreak will cost the global economy more than $280 billion in the first three months of the year, putting an end to a 43-quarter global growth streak, according to Capital Economics Ltd. Based on those forecasts “global GDP will not grow in quarter-on-quarter terms for the first time since 2009,” the firm said.
Foxconn Request to Resume Shenzen Ops Rejected: Reuters (4 p.m. HK)
Shenzhen rejected a request by Foxconn to resume production at a key plant in the city, Reuters reported, citing unidentified people familiar with the matter. Foxconn makes the majority of the world’s iPhones from Zhengzhou.
U.K. Calls Coronavirus a Serious, Imminent Threat (3:34 p.m. HK)
The U.K. government is labeling the novel coronavirus a “serious and imminent threat to public health.”
Britain is enacting regulations to stem further transmission, according to the Department of Health and Social Care. The declaration of a serious and imminent threat comes alongside measures the government hopes will be an effective means of delaying or preventing further transmission.
Singapore Braces as Cases Emerge in Financial Center (3:32 p.m. HK)
Singapore’s coronavirus outbreak has spread to its financial center, with some staff at major companies being told to work from home for at least the next few days and temperature screening checkpoints set up at the front doors of several towers.
A worker at an unnamed firm in Marina Bay Financial Centre Tower 1 has been confirmed as being infected with the virus over the weekend, according to a circular to tenants by the building’s manager Raffles Quay Asset Management Pte. Another case at nearby Clifford Centre, in the heart of the central business district, is an employee of United Industrial Corp, according to an advisory to tenants in the building where UIC is located.
Japan Cruise Ship Finds 66 More Cases (3:25 p.m. HK)
The operator of the cruise ship quarantined off Japan confirmed 66 more cases of coronavirus, nearly doubling to 136 the number of people on the vessel who have contracted the disease.
The increasing number of patients on Carnival Corp.’s Diamond Princess has raised worries about a possible spread among the more than 3,600 people still aboard. Risks have been mounting that the virus could spread in the confined spaces of the ship, where many on board have increased vulnerability due to their advanced ages.
Airbnb Freezes Beijing Check-Ins Till March (2:19 p.m. HK)
Airbnb Inc. is suspending check-ins at all of its Beijing listings until March to comply with local regulations intended to curb the coronavirus outbreak that’s spreading across China. The San Francisco-based company said in a statement that it will offer refunds to all those affected or that cancel their bookings.
China Seeks to Minimize Impact on Foreign Investment (12:03 p.m. HK)
China’s Ministry of Commerce is seeking to minimize the impact of the coronavirus outbreak on foreign investment. The ministry will push forward foreign projects to ensure investment is implemented as planned, according to a statement. The ministry will also help foreign enterprises resume production and operations; foreign producers of masks and other protective wear are urged to resume output quickly.
Fallout May Be Just Beginning for Tech Firms (11:28 a.m. HK)
As Chinese-based manufacturers begin to restart factories Monday, no one knows for sure when they’ll be back at full-speed -- or what sort of chaos may ensue.
Tech producers led by Foxconn, which makes the majority of the world’s iPhones a few hundred miles from the coronavirus outbreak’s epicenter, had begun preparing investors for the potential bedlam when hundreds of thousands make their way back to factories. Apple Inc.’s most important partner warned investors of the daunting task of securing enough workers despite widespread transport blockades, quarantining thousands, and the “nightmare” scenario of an on-campus epidemic that could shut down production altogether.
Read the full story here.
Experts Get Creative in Measuring Economic Blow (9:29 a.m. HK)
Economists are grappling with ways to gauge the real-time impact of the coronavirus on the world economy, even as the outbreak continues to confound forecasters. Store closures, flight-tracking websites, factory shutdowns and the latest numbers on infections and fatalities are just some of the high-frequency data points economists are scouring for clues on the hit to growth.
“To track the impact of the virus on the global economy, we have had to look at indicators I have never looked at before in my 25 years of doing macroeconomic forecasting,” said Torsten Slok, chief economist for Deutsche Bank AG.
China Death Toll at 908 (7:55 a.m. HK)
China’s nationwide coronavirus death toll increased by 97 to 908 by the end of Feb. 9, according to a statement from National Health Commission. Some 871 of those deaths have occurred in Hubei province, the province at the epicenter of the outbreak.
The number of confirmed coronavirus cases in mainland China rose by 3,062, bringing the total count to 40,171. There have been two deaths outside of mainland China -- one in Hong Kong and another in the Philippines.
WHO Chief Concerned Over Virus Spread (6:35 a.m. HK)
WHO Director-General Tedros Adhanom Ghebreyesus said in a tweet that there have been concerning instances of coronavirus being spread from people with no travel history to China, saying “we may only be seeing the tip of the iceberg” when it comes to the virus.
“The detection of a small number of cases may indicate more widespread transmission in other countries,” he said in the tweet.
He called on countries to step up efforts to prepare for the coronavirus’s possible arrival. Donors have contributed toward the WHO’s efforts and those directed at vulnerable countries, he said, but the organization hasn’t reached its goal of $675 million to fight the coro
Trump Proposes Cuts for CDC (4:15 p.m. NY)
The Trump administration proposes a 10% cut in funding for the Centers for Disease Control, which is leading the U.S. response to the coronavirus outbreak, while leaving unchanged at $4 billion spending on infectious diseases, a person familiar with the budget said.
The administration is not proposing a supplemental budget for costs associated with the outbreak, according to the person, who requested anonymity to discuss the budget before the release on Monday.
WHO Team Heads to China (3:30 p.m. NY)
A World Health Organization assistant director-general, Bruce Aylward, will lead a team of medical experts heading to China as the nation fights the coronavirus outbreak.
Director-General Tedros Adhanom Ghebreyesus in a tweet called Aylward a “veteran of past public health emergencies.” An advance team left Geneva for China on Sunday, he said.
Aylward ran a review that led to the first system-wide activation procedures for major infectious disease emergencies, according to the WHO’s website. WHO also will hold a global forum Tuesday and Wednesday in Geneva to accelerate research into the coronavirus outbreak, Ghebreyesus said in a separate tweet.
China Cites Medical Gear in Merkel Call (2:15 p.m. NY)
Chinese Premier Li Keqiang told German Chancellor Angela Merkel he hopes other nations will back his country’s efforts to fight the coronavirus and help his government buy medical supplies from Germany, Xinhua reported, citing a Sunday call between the leaders.
Li said China’s actions exceed recommendations of the World Health Organization. “The Chinese government and people are confident and capable of winning the fight against the epidemic,” he said, the state-run news agency reported.
Merkel said that Germany is paying close attention and has taken a “prudent stance” in dealing with the epidemic, Xinhua said. Merkel said Germany has not imposed excessively restrictive measures.
China Rejects Virus Speculation (12:30 a.m. NY)
China’s ambassador to the U.S., Cui Tiankai, dismissed suggestions the coronavirus originated from a military laboratory or was part of biological warfare research, and warned against such speculation.
“I think it’s true that a lot is still unknown and our scientists, Chinese scientists, American scientists, scientists of other countries, are doing their best to learn more about the virus,” Cui said Sunday on CBS’s “Face the Nation” broadcast. “It’s very harmful, it’s very dangerous to stir up suspicion, rumors and spread them among the people. For one thing, this will create panic. Another thing, that it will fan up racial discrimination, xenophobia.”
Senator Tom Cotton, an Arkansas Republican, last month in a tweet said Wuhan, epicenter of the outbreak, has China’s only laboratory that works with deadly pathogens including coronavirus.
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