China extends containment efforts on coronavirus outbreak, risk still fragile

In further containment efforts, China’s National Development and Reform Commission (NDRC), the country’s state planner, announced on Monday that it plans to invest 300 million yuan ($43.5 million) for the construction of hospitals in Wuhan serving patients affected by the coronavirus.

Meanwhile, China’s Finance Ministry and Health Commission are considering offering CNY 60.33 billion to contain the spread of the virus.

The Chinese government is also extending the week-long Lunar New Year holiday by three days to Feb. 2, in a bid to slow the spread of the virus.

The total number of confirmed cases in China rose about 30% to 2,744, about half of them in Hubei province, the epicenter of which is Wuhan.

“Thailand and Hong Kong have each reported eight cases of infection; the United States and Macau have five each; Taiwan, Australia, Singapore and Malaysia each have reported four; France and Japan three each; Vietnam and South Korea two apiece, and one each in Canada and Nepal,” Reuters reported.

• Forex Today: China coronavirus crisis accelerates and knocks down risk, focus on German IFO
• AUD/USD drops to fresh multi-week lows, below 0.6800 mark