Coronavirus update: Death toll on mainland China rises to 2,442, South Korea reports 123 new cases

The total number of confirmed coronavirus infections on mainland China reached 76,946 with 648 new confirmed cases on February 22, China's National Health Commission reported on Sunday. The death toll increased to 2,442 in the same period. 

In the meantime, South Korea's Centers for Disease and Control and Prevention (KCDC) announced that there were 123 new confirmed cases in the nation to lift the total number to 556. 

Market reaction

Markets are likely to start the week risk-averse on these headlines. The JPY, which seems to have lost its safe-haven status lately, could struggle to capitalize on risk-off flows and the USD and gold could gather strength in the early trading hours of the Asian session.