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Coronavirus latest updates: first case detected in sub-Saharan Africa as stock market dives again Coronavirus latest updates: first case detected in New Zealand as stock markets fall further
(32 minutes later)
Ireland and Netherlands report first cases as US officials monitor thousands getting off domestic flights for symptoms. Follow live news Nigeria and Lithuania also report first cases as WHO says epidemic could get ‘out of control’. Follow live news
AFP has written about the measures being taken in Beijing to control the spread of the virus, amid fears there could be a resurgence. There was a fresh cluster of cases this week, and two deaths reported on Friday.
The Sacramento Bee is reporting three students living in dormitories at UC Davis has been placed in isolation after one showed “mild” symptoms of the virus.
Important info for New Zealanders who have traveled recently.Important info for New Zealanders who have traveled recently.
Capital Economics says China’s economy will shrink in the first quarter of this year despite the slowdown in the number of new virus cases.Capital Economics says China’s economy will shrink in the first quarter of this year despite the slowdown in the number of new virus cases.
Activity is still subdued in the world’s second-biggest economy, Capital says, and the impact on domestic demand and international supply chains will have a profound effect on the global outlook.Activity is still subdued in the world’s second-biggest economy, Capital says, and the impact on domestic demand and international supply chains will have a profound effect on the global outlook.
The consultancy, which has a page monitoring economic activity in China which is open to the public, says:The consultancy, which has a page monitoring economic activity in China which is open to the public, says:
Lithuania has reported its first case of the virus, in a woman who returned this week from a visit to Italy’s northern city of Verona.Lithuania has reported its first case of the virus, in a woman who returned this week from a visit to Italy’s northern city of Verona.
In a statement, the Lithuanian government said the woman had been isolated in hospital in the northern town of Siauliai following her return on Monday.In a statement, the Lithuanian government said the woman had been isolated in hospital in the northern town of Siauliai following her return on Monday.
She has been under observation since, and is showing only slight symptoms, with no elevated temperature at the moment, it added.She has been under observation since, and is showing only slight symptoms, with no elevated temperature at the moment, it added.
There are also more details about the case in Nigeria, the first for sub-Saharan Africa, via Reuters.There are also more details about the case in Nigeria, the first for sub-Saharan Africa, via Reuters.
The country’s health minister Osagie Ehanire, said in a statement the case was an Italian citizen who works in Nigeria and returned from Milan, Italy to Lagos on 25 February.The country’s health minister Osagie Ehanire, said in a statement the case was an Italian citizen who works in Nigeria and returned from Milan, Italy to Lagos on 25 February.
His infection was confirmed by the Virology Laboratory of the Lagos University Teaching Hospital, part of the Laboratory Network of the Nigeria Centre for Disease Control.His infection was confirmed by the Virology Laboratory of the Lagos University Teaching Hospital, part of the Laboratory Network of the Nigeria Centre for Disease Control.
“The patient is clinically stable, with no serious symptoms,” said the minister, adding that he was being treated at a hospital in the Lagos district of Yaba.“The patient is clinically stable, with no serious symptoms,” said the minister, adding that he was being treated at a hospital in the Lagos district of Yaba.
“We have already started working to identify all the contacts of the patient, since he entered Nigeria,” said Ehanire.“We have already started working to identify all the contacts of the patient, since he entered Nigeria,” said Ehanire.
New Zealand has confirmed the first case of the virus, according to RNZ.New Zealand has confirmed the first case of the virus, according to RNZ.
It’s reporting the prime minister, Jacinda Ardern, has confirmed the diagnosis in a permanent resident of New Zealand who had recently been in Iran.It’s reporting the prime minister, Jacinda Ardern, has confirmed the diagnosis in a permanent resident of New Zealand who had recently been in Iran.
Things are going from bad to worse on the financial markets with the selloff intensifying throughout the Asian trading session.Things are going from bad to worse on the financial markets with the selloff intensifying throughout the Asian trading session.
The Nikkei is down 4.12% in TokyoThe Nikkei is down 4.12% in Tokyo
ASX200 in Sydney is down 3%.ASX200 in Sydney is down 3%.
In Seoul, the Kospi index has lost 2.87%In Seoul, the Kospi index has lost 2.87%
Hong Kong has shed 2.5%Hong Kong has shed 2.5%
Shanghai is off by 3.37% after escaping the worst in the last few days.Shanghai is off by 3.37% after escaping the worst in the last few days.
MSCI world index down 0.5% after 3.3% drop on Thursday. It is off 9.3% this week, on course for its biggest weekly decline since a 9.8% plunge in November 2008.MSCI world index down 0.5% after 3.3% drop on Thursday. It is off 9.3% this week, on course for its biggest weekly decline since a 9.8% plunge in November 2008.
The Vix volatility index – also known as the fear index – spiked to 39, its highest since the European debt crisis of 2011.The Vix volatility index – also known as the fear index – spiked to 39, its highest since the European debt crisis of 2011.
Brent crude oil is down 2.2% at $51.01 per barrelBrent crude oil is down 2.2% at $51.01 per barrel
Currencies seen as risky bets such as the Australia dollar, the Indonesian rupiah and the Indian rupee were sharply down.Currencies seen as risky bets such as the Australia dollar, the Indonesian rupiah and the Indian rupee were sharply down.
Safe havens such as gold, Japanese yen and US government bonds were up.Safe havens such as gold, Japanese yen and US government bonds were up.
AFP:AFP:
The operator of Tokyo’s two Disney resorts, Disneyland and DisneySea, said Friday the parks would be closed for around two weeks on fears over the outbreak of the new coronavirus.The operator of Tokyo’s two Disney resorts, Disneyland and DisneySea, said Friday the parks would be closed for around two weeks on fears over the outbreak of the new coronavirus.
“Tokyo Disneyland and Tokyo Disney Sea have decided to proceed with an extraordinary closure from Saturday February 29, 2020, through Sunday 15 March”, after the government urged measures to limit the spread of the virus, the operator said in a statement.“Tokyo Disneyland and Tokyo Disney Sea have decided to proceed with an extraordinary closure from Saturday February 29, 2020, through Sunday 15 March”, after the government urged measures to limit the spread of the virus, the operator said in a statement.
The operator Oriental Land said it currently hoped to resume operations from 16 March.The operator Oriental Land said it currently hoped to resume operations from 16 March.
“Currently, we plan to reopen on March 16. But we’ll decide when to open by looking at the situation and developments. We’ll also consult (official) agencies concerned,” a spokesman told AFP.“Currently, we plan to reopen on March 16. But we’ll decide when to open by looking at the situation and developments. We’ll also consult (official) agencies concerned,” a spokesman told AFP.
Hong Kong’s Disneyland Resort remains closed “as a precautionary measure in line with preventive efforts” against the coronavirus.Hong Kong’s Disneyland Resort remains closed “as a precautionary measure in line with preventive efforts” against the coronavirus.
Coronavirus chaos is causing congestion as high trade volumes clog the systems of brokers.Coronavirus chaos is causing congestion as high trade volumes clog the systems of brokers.
“We are seeing high volumes of trading today,” onliner broker Commsec, which is owned by the Commonwealth Bank, says in a message to website customers. “Please be advised that our contact centres are busier than usual and you may experience longer than usual wait times.”“We are seeing high volumes of trading today,” onliner broker Commsec, which is owned by the Commonwealth Bank, says in a message to website customers. “Please be advised that our contact centres are busier than usual and you may experience longer than usual wait times.”
At about 2.45pm on Friday the benchmark ASX200 index was down 2.9%, with the falls led by the Harvey Norman retail empire controlled by Gerry Harvey.At about 2.45pm on Friday the benchmark ASX200 index was down 2.9%, with the falls led by the Harvey Norman retail empire controlled by Gerry Harvey.
Harvey Norman shares have plummeted more than 11% so far today. While other retails have suffered from coronavirus contagion this week, until today, when it released a disappointing profit result, the Harvey Norman empire had largely escaped unscathed.Harvey Norman shares have plummeted more than 11% so far today. While other retails have suffered from coronavirus contagion this week, until today, when it released a disappointing profit result, the Harvey Norman empire had largely escaped unscathed.
Also smashed were gold miners Gold Road Resources - down 14% - and Silver Lake resources, which was down more than 10.5%.Also smashed were gold miners Gold Road Resources - down 14% - and Silver Lake resources, which was down more than 10.5%.
But every sector has been hammered today, with all but 13 stocks in the index recording a fall.But every sector has been hammered today, with all but 13 stocks in the index recording a fall.
Home affairs minister Peter Dutton says Australia has “one of the toughest border protection system in the world, and probably the best health system in the world” and is well prepared.Home affairs minister Peter Dutton says Australia has “one of the toughest border protection system in the world, and probably the best health system in the world” and is well prepared.
He urged Australians to continue to go out and support communities and small businesses, and travel, especially to bushfire affected areas of NSW, Victoria, Queensland and South Australia.He urged Australians to continue to go out and support communities and small businesses, and travel, especially to bushfire affected areas of NSW, Victoria, Queensland and South Australia.
New Zealand said on Friday that it was placing temporary restrictions on incoming travellers from Iran as a precautionary measure to protect against the coronavirus outbreak.New Zealand said on Friday that it was placing temporary restrictions on incoming travellers from Iran as a precautionary measure to protect against the coronavirus outbreak.
“This means people will not be able to travel from Iran to New Zealand and anyone who has been in Iran in the last 14 days will need to self-isolate,” Health Minister David Clark said in a statement.“This means people will not be able to travel from Iran to New Zealand and anyone who has been in Iran in the last 14 days will need to self-isolate,” Health Minister David Clark said in a statement.
The death toll in Iran from coronavirus had risen to 26, by far the highest number outside China.The death toll in Iran from coronavirus had risen to 26, by far the highest number outside China.
New Zealand also decided not to allow any exemptions for overseas students from China to enter the country.New Zealand also decided not to allow any exemptions for overseas students from China to enter the country.
Clark added there would be an increased presence of health staff that would meet direct international flights landing at New Zealand airports from Hong Kong, Japan, South Korea, Singapore and Thailand.Clark added there would be an increased presence of health staff that would meet direct international flights landing at New Zealand airports from Hong Kong, Japan, South Korea, Singapore and Thailand.
Hyundai has suspended production at one of its South Korean factories, in the city of Ulsan, after a worker tested positive for the virus, a union source has told Reuters.Hyundai has suspended production at one of its South Korean factories, in the city of Ulsan, after a worker tested positive for the virus, a union source has told Reuters.
A Hyundai spokesman said the company was checking the report.A Hyundai spokesman said the company was checking the report.
Shares of the automaker dropped more than 5% after the news, while the wider market was down 2.6%.Shares of the automaker dropped more than 5% after the news, while the wider market was down 2.6%.
Some developments in business and finance:Some developments in business and finance:
Hyundai, the South Korean carmaker, has suspended production at a factory in Ulsan after one of its workers tested positive for the virus. Shares of the automaker dropped more than 5% after the news, while the wider Korean market was down 2.6%.Hyundai, the South Korean carmaker, has suspended production at a factory in Ulsan after one of its workers tested positive for the virus. Shares of the automaker dropped more than 5% after the news, while the wider Korean market was down 2.6%.
Tokyo Disneyland says it will be closed until mid-March because of concerns about transmission in large crowds. Both Tokyo Disneyland and DisneySea will be closed starting Saturday, the theme parks’ operators, Oriental Land, said on Friday.Tokyo Disneyland says it will be closed until mid-March because of concerns about transmission in large crowds. Both Tokyo Disneyland and DisneySea will be closed starting Saturday, the theme parks’ operators, Oriental Land, said on Friday.
Japanese PM Shinzo Abe said on Friday that the government had reserve funding it could use to tackle the hit from the virus. “I’m aware of views that if the virus spreads, it could have a huge impact on the economy,” Abe told parliament. “We’re therefore watching developments carefully.”Japanese PM Shinzo Abe said on Friday that the government had reserve funding it could use to tackle the hit from the virus. “I’m aware of views that if the virus spreads, it could have a huge impact on the economy,” Abe told parliament. “We’re therefore watching developments carefully.”
Futures in Brent crude oil, the international benchmark, have fallen 1.7% to $50.83 a barrel, a 14-month low. Fears of a major economic slump also sent US crude futures to $46.28 per barrel.Futures in Brent crude oil, the international benchmark, have fallen 1.7% to $50.83 a barrel, a 14-month low. Fears of a major economic slump also sent US crude futures to $46.28 per barrel.