China reports 31 new coronavirus cases in Mainland as of end-March 29 vs 45 a day earlier


China reports 31 new coronavirus cases in the Mainland as of end-march 29 vs 45 a day earlier.

Key notes

  • China' s Hubei province reports total of 67,801 coronavirus cases and 3,186 deaths as of end-March 29
  • China' s Hubei province reports 0 new coronavirus cases as of end-March 29.
  • Hubei province reports 4 new coronavirus deaths as of end-March 29.
  • Coronavirus update: china says total of 81,470 coronavirus cases in Mainland China reported as of end-March 29.
  • Total of 3,304 deaths from coronavirus outbreak reported in mainland China as of end-March 29.
  • China reports 30 new imported coronavirus cases in the mainland as of end-March 29 vs 44 a day earlier.

Life is almost back to normal in much of China as people return to work with bars, offices shops and eateries open for business again along with a rival in the manufacturing industry. Wuhan, where the COVID-19 pandemic originated, is lagging, as is the rest of Hubei province—but even there, the lockdown is due to lift 8 April. The entire world is watching to see if the three-quarters of China's workforce back on the job as of 24 March will not encourage a new wave of a COVID-19 pandemic, or worse, a rapid spread and mutation of the virus. 

As per the stats, new infections now mostly come from outside, with more than 500 cases have been confirmed in incoming air passengers since 18 March. As a result, at midnight on Friday, China banned virtually all foreigners from entering the country and required all returning Chinese to be quarantined for 2 weeks, whether coming by air or overland. 

While the mainland gets back to work and life, things are very different of course, with millions still working from home, theatres closed, and people keeping a safe distance and wearing face masks as the norm. 

China is addressing an issue every country and location in the world will eventually face: how to normalize and restore societal activities, while at the same time minimizing disease-related dangers from the outbreak.

– Keiji Fukuda, University of Hong Kong.

Market implications

The yen is bid today and markets are skittish, mostly lower, following a risk-off sessing on Wall Street. The Dow closed down 4.1% and the S&P500 off 3.4%, both falling at the end of the session. Today, the Nikkei started out offered but has closed the gap, +0.30%. USD/JPY remains on the backfoot, -0.40%.

 

 

 

 

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