As it stands, the nCoV virus remains a moderately lethal disease with mortality rates according to official statistics at about 2% of those confirmed to be carrying the disease.
It remains to be seen whether the 2% figure is grossly over quoted or under quoted as statistics released by the Chinese National Health Commission may not be taking into account the full extent of the breadth of spread.
Yesterday, the number of deaths stood at 57 which is slightly more than the day before it at 45. This is a slight concern as the full extent of the damage may not be fully played out.
Some countries have overreacted heavily and inappropriately barred entry from any Chinese nationals through their borders. Even completely closing all flight routes. This, despite advice from WHO recommending not to close borders to Chinese nationals.
Xenophobia is also on the rise with more reports of discrimination of oriental people (not even Chinese) for the simple reason of the color of their skin. The resurgence of racism and xenophobia seems opportunistic but brings out the true human nature of people in their domestic environments. Hopefully this irrational fear subsides and the unwarranted racism and xenophobia is just a heightened state of fear induced response, otherwise uncharacteristically representative of non-oriental people.
Meanwhile, the Chinese markets have reacted sharply to the continued uncertainty of coronavirus with a large decline in the HK index of around 9%. The PBOC has responded accordingly with an injection of ~ 21.7 billion dollars to money markets in an attempt to stave off the bleeding and boost much needed liquidity.
As long as the central banks are printing. Anti-fiat hedge assets such as Gold, and Bitcoin will stand to prove their strength as inflationary hedging instruments.
