(Bloomberg) -- The coronavirus death toll rose to 170 and confirmed cases in China soared past 7,700, with ripple effects of the spreading illness raising threats to the economy.
Asian and European stocks slumped with U.S. futures amid mounting evidence that the outbreak is disrupting company supply chains and consumer activity. Economists have started cutting growth forecasts as authorities tighten travel restrictions and lock down cities, while businesses suspend their China operations.
With the disease spreading across the globe, the World Health Organization is gathering Thursday to consider issuing an international health emergency.
Key Developments:
Carnival Corp. shares slump as passengers are held on cruise liner for virus testsRussia moved to shut its 2,600-mile border with ChinaU.S. plans a second Wuhan evacuation flight, Dow Jones reportsBloomberg is tracking the outlook here. Click here to view on terminalTerminal subscribers: Join our TOPLive Q&A on the coronavirus outbreak on Jan. 30
All times are Hong Kong.
Russia Closes China Border as Fears Grow (8 p.m.)
The Russian government ordered its vast land border with China shut as the Kremlin moves to keep the deadly coronavirus at bay.
While it’s still possible to fly to China, the Foreign Ministry warned Russians to refrain from non-essential travel to the country. Russia hasn’t reported any cases of the virus.
U.S. Plans Another Wuhan Evacuation Flight: Dow Jones (7 p.m.)
The U.S. will provide an additional flight to evacuate private citizens from Wuhan on or about Feb. 3, Dow Jones reports, citing unidentified people familiar with the situation.
An earlier flight carrying more than 200 Americans arrived at March Air Reserve Base in California, where the passengers are being monitored.
Hong Kong Warns of Surgical Mask Shortage (6 p.m.)
Hong Kong warned it’s struggling to supply enough surgical masks. Chief Secretary Matthew Cheung said the government has bought 13 million, but public hospitals are using five or six times as many as normal and Hong Kong is stepping up local production at correctional facilities to keep up with demand. Another 24 million should be available at retail outlets soon, he added.
Hong Kong’s population is about 7 million. Chief Executive Carrie Lam will hold a briefing Friday on the government’s latest measures against the spread of the virus, Cheung said.
India, Philippines Report First Virus Cases (4:55 p.m.)
India and the Philippines reported their first confirmed cases of the coronavirus, as the illness continues its global spread.
A student who attended Wuhan University tested positive in the southern Indian state of Kerala, the government said. Meanwhile, a 38-year-old female Chinese patient who arrived from Wuhan via Hong Kong on Jan. 21 has been confirmed as the first case in the Philippines.
Chinese Regions Extend Holidays (2:57 p.m.):
At least one Chinese city and several provinces have extended the Lunar New Year holiday beyond Feb. 2 in an effort to control the spread of the virus.
Shanghai, the autonomous region of Inner Mongolia and provinces of Guangdong, Zhejiang, Jiangsu have said businesses need not start operations until at least Feb. 10. Hubei province, where Wuhan is located, has said the holiday will last until at least Feb. 14.
China had already extended the holiday nationwide on Monday. It was originally due to end on Jan. 30, but was stretched to Feb. 2.
Trump Appoints Coronavirus Task Force (12:24 p.m.)
President Donald Trump appointed a task force to coordinate the U.S. response to the coronavirus outbreak.
The task force will be led by Health and Human Services Secretary Alex Azar, said White House Press Secretary Stephanie Grisham in a statement. Other figures include Robert Redfield, director of the Centers for Disease Control and Prevention, as well as National Security Adviser Robert O’Brien.
The White House also plans to send CDC experts to China to help respond to the outbreak.
Supply-Chain Fears Hit Taiwan Stocks (12:08 p.m.)
Concern that the virus outbreak will disrupt the global supply chain rippled through Taiwan’s stock market. Taiwan’s Taiex plunged more than 5%, the most since October 2018, as trading reopened following the Lunar New Year break.
Foxconn’s Hon Hai Precision Industry Co., which assembles the majority of Apple Inc.’s iPhones from China and has minor operations in Wuhan, sank as much as 10%. Hon Hai said all of its facilities will resume full-scale production only from Feb. 10, more than a week later than originally planned.
Virus Spread May Prompt WHO Action: Expert (11:40 a.m.)
Developments over the past week may push the World Health Organization to issue a global alert over the coronavirus, after the agency last week stopped short of calling it a health emergency, according to a public health specialist.
Evidence that the disease can be transmitted before a person shows any signs of illness could make a difference as WHO’s emergency committee meets later Thursday, said Raina MacIntyre, a professor of global biosecurity at the University of New South Wales in Sydney. The global spread of the virus could also be a factor, she said.
“That brings a more complex issue to disease control,” McIntyre said in a phone interview Thursday. “It becomes much harder to control infection where you have got transmission without symptoms.”
Three Japanese Evacuated From Wuhan Have Virus (9:09 a.m.)
Three of the 206 people who returned to Japan from Hubei Province on Wednesday tested positive for the new coronaaaavirus, with two not showing any symptoms, Japan Health Minister Katsunobu Kato told a parliamentary committee.
Two other evacuees on the charter plane declined to be tested and were sent home, according to the Health Ministry. Kato said officials did not have the legal power to force them to be tested. A second charter plane carrying 210 more evacuees arrived in Tokyo from Wuhan on Thursday morning.
China Virus Cases Surge to Over 7,700 (7:47 a.m.)
China’s death toll from the coronavirus rose to 170 from 132 previously, while the number of cases on the mainland jumped to 7,711, according to the National Health Commission.
U.S. to Send Experts to China: Kudlow (6:45 a.m.)
President Donald Trump’s top economic adviser said the U.S. would send experts to China to help the nation contain the coronavirus outbreak.
“We are sending our best experts from CDC to help them,” Larry Kudlow told reporters on Wednesday, referring to the U.S. Centers for Disease Control and Prevention. “The Chinese invited us to do so.”
Asked whether the White House is considering restricting flights to China, Kudlow said, “there’s a lot of discussions going on one way or another.”
--With assistance from Josh Wingrove, Linly Lin, Jason Gale, Sofia Horta e Costa, Bryce Baschuk, James Paton, Michelle Fay Cortez, Pradeep Kurup, Andreo Calonzo, Claire Jiao and Jake Rudnitsky.
To contact Bloomberg News staff for this story: Jeff Sutherland in Tokyo at jsutherlan13@bloomberg.net
To contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, Eric Pfanner, Thomas Mulier
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2020-01-30 12:14:00Z
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