Hundreds of foreign evacuees from the Chinese city of Wuhan entered quarantine on Thursday as deaths from a fast-spreading virus rose to 170 and markets shuddered at the impact of an inevitable big hit to the world’s No. 2 economy.
All eyes were on the World Health Organisation (WHO), which has held off declaring the flu-like coronavirus a global emergency but was to reconsider that later in the day.
Such a declaration would trigger tighter containment and information-sharing guidelines, but may disappoint Beijing, which had expressed confidence in defeating the “devil” virus.
It could also potentially spook markets further.
“The fear is that they (the WHO) might raise the alarm bells ... so people are taking money off the table,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.
The day after a state economist forecast the crisis would lop a percentage point off China’s first quarter growth, global stocks tumbled, the yuan hit its lowest this year, oil prices slid again and safe haven assets like gold gained.
The coronavirus, which originated in an illegal wildlife market in the central city of Wuhan, has now claimed 170 lives and infected 7,711 people in China, latest official data showed.
Almost all the deaths have been in Hubei province - of which Wuhan is the capital - where 60 million people are now living under virtual lockdown, staying inside their homes and only venturing out with masks on.
“Canteens are not open. Most of the shops are closed. We cannot go out and buy food,” Si Thu Tun, one of 60 students from Myanmar trapped in Wuhan, told online news outlet the Democratic Voice of Burma.
“Honestly, I have one big potato and three packs of instant noodles and some rice,” he said. Myanmar plans a special flight to get the students out within three days.
Such a declaration would trigger tighter containment and information-sharing guidelines, but may disappoint Beijing, which had expressed confidence in defeating the “devil” virus.
It could also potentially spook markets further.
“The fear is that they (the WHO) might raise the alarm bells ... so people are taking money off the table,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.
The day after a state economist forecast the crisis would lop a percentage point off China’s first quarter growth, global stocks tumbled, the yuan hit its lowest this year, oil prices slid again and safe haven assets like gold gained.
The coronavirus, which originated in an illegal wildlife market in the central city of Wuhan, has now claimed 170 lives and infected 7,711 people in China, latest official data showed.
Almost all the deaths have been in Hubei province - of which Wuhan is the capital - where 60 million people are now living under virtual lockdown, staying inside their homes and only venturing out with masks on.
“Canteens are not open. Most of the shops are closed. We cannot go out and buy food,” Si Thu Tun, one of 60 students from Myanmar trapped in Wuhan, told online news outlet the Democratic Voice of Burma.
“Honestly, I have one big potato and three packs of instant noodles and some rice,” he said. Myanmar plans a special flight to get the students out within three days.