Amidst mounting global worries, the world wide spread of Coronavirus has claimed the lives of more than 800 people as per the latest count. It has already overshadowed the death toll from the global outbreak of SARS that started in China almost two decades ago. It is likely to surpass MERS (858 deaths in 2012).
Across mainland China, there were 2,656 new confirmed infections on Saturday, bringing the total accumulated number so far to 37,593 of which 6196 were reported in severe condition. The recovered people were 2873 till latest reports.
The 2002-2003 outbreak of severe acute respiratory syndrome, or SARS, killed 774 people and sickened almost 8,100 others, in 26 countries, over eight months, the World Health Organization said. Mainland China accounted for about 45% of SARS deaths.
The novel coronavirus (2019-nCoV) is affecting 28 countries and territories around the world. The virus spreading fast across China could be more damaging for the world. China economy is now bigger than during SARS. Its ripple effects are already being felt across supply chains and in commodities market.
Last Monday, the coronavirus outbreak hit the Chinese stock market dramatically. Trading was suspended on many stocks as they hit the lower ten percent circuit within minutes.
The effects of virus are being felt on a daily basis now. Disrupted air travel to supply chains, falling commodity prices are all indicating dampened growth prospects across the World.
Full economic fallout will depend on how well China can ultimately contain the outbreak.
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.