China faced mounting isolation in the face of increasing international travel curbs and flight suspensions on Saturday, as the death toll from a spreading coronavirus outbreak rose to 259.

China faced mounting isolation in the face of increasing international travel curbs and flight suspensions on Saturday, as the death toll from a spreading coronavirus outbreak rose to 259. The epidemic has led to mass evacuations of foreign citizens as world airlines halt flights, and risks exacerbating a slowdown in growth in the world's second-largest economy. China's National Health Commission said there were 2,102 new confirmed infections in China as of Friday, bringing the total to 11,791. Around two dozen other countries have reported more than 130 cases. All of the reported deaths from the virus have been in China. The Russian military was to start evacuating Russian citizens from China on Monday and Tuesday, Interfax and TASS news agencies reported. Kremlin spokesman Dmitry Peskov was quoted as saying the evacuations would be from regions that had been most affected by the outbreak. Russia, which has already restricted direct flights with its biggest trading partner, also said it was suspending visa-free travel for Chinese visitors and halting work visas. Most international cases have been in people who had recently travelled to or were visiting from Hubei province, the epicentre of the outbreak. Hubei has been under a virtual quarantine for the last week, with roads sealed off and public transport shut down. Elsewhere, Chinese authorities placed growing restrictions on travel and business. In Beijing, counters were set up at the entrances of housing estates, where volunteers wearing red armbands and masks noted details of residents coming back from their hometowns after the Lunar New Year holiday. [ A woman wears a face mask in a market alley in Jiujiang, Jiangxi province, China. (Courtesy: Reuters) ] Also Read: Coronavirus: China toll climbs to 304; Philippines becomes first country outside China to report first death In Hubei, the provincial government extended the holiday break to Feb. 13 in a bid to contain the outbreak, the Hubei Daily reported. The World Health Organization, which this week declared the outbreak a public health emergency of international concern, has said global trade and travel restrictions are not needed. But Singapore and the United States announced measures on Friday to ban foreign nationals who have recently been in China from entering their territories. Australia followed suit on Saturday. "We're operating with an abundance of caution in these circumstances so Australians can go about their daily lives with confidence," Prime Minister Scott Morrison told reporters in Sydney. The Chinese data would suggest the flu-like virus is less deadly than the 2002-03 outbreak of Severe Acute Respiratory Syndrome (SARS), which killed nearly 800 people of the some 8,000 it infected, although such numbers can evolve rapidly. Evacuations The list of international airlines suspending all or some flights to China is growing. The latest was Qantas Airways Ltd and Air New Zealand, who said travel bans forced them to suspend their direct flights to China from Feb. 9. All three major U.S. airlines said on Friday they would cancel flights to mainland China. The commander of U.S. forces in the Pacific banned travel to China for all service members and civilian personnel under his authority and ordered those now in China to leave immediately, officials said. U.S. health officials on Saturday confirmed an eighth case of the virus, a person in Massachusetts who recently returned from Hubei province. Many nations have sent charter flights to repatriate citizens from China and then place them in isolation for around two weeks, believed to be the incubation period of the virus. German Health Minister Jens Spahn called for calm and warned against hysteria as more than 100 Germans and family members landed in Frankfurt, none showing any symptoms of the virus. As of Saturday evening Germany had eight confirmed cases. Britain, which has had two confirmed cases, said it was withdrawing some staff from its embassy and consulates in China. Many of the private clinics catering to foreigners in China have started to turn away people with fevers. Disruptions Infections have jumped in two cities flanking Wuhan, where the new virus is believed to have originated, raising concerns that new hot spots are emerging despite strict transport restrictions. In Huanggang, authorities asked households to designate one individual who can leave the home, a local newspaper said. The mayor of the city of about 7.5 million people said there could be a significant rise in cases this weekend. The northern city of Tianjin, home to some 15 million, suspended all schools and businesses until further notice. Efforts to contain the virus risk slowing economic growth in China. The virus impact prompted Goldman Sachs to cut its estimate for first-quarter growth to 4% from 5.6%. China's central bank said the impact was temporary and economic fundamentals remained sound, but that it would increase credit support, lowering lending costs for affected companies. Apple Inc said on Saturday it would close all of its official stores and corporate offices in China until Feb. 9, the latest of dozens of major companies, including IKEA and Walmart Inc, to restrict travel and operations due to the outbreak.

Coronavirus death toll rises; China faces global isolation deemed unnecessary by WHO

New Zealand announced on Sunday it would bar entry into the country from all foreign nationals arriving from <a href="https://www.wionews.com/videos/coronavirus-death-toll-climbs-to-213-277727">mainland China</a> due too the increasing threat from the <a href="WHO declares Coronavirus as global health emergency">coronavirus epidemic</a>. The ban is in effect from Monday and the Ministry of Foreign Affairs and Trade also raised its travel advice to New Zealanders for all of mainland China to “Do not travel”, the highest level.

"We have been advised by health officials that while there is still a range of unknowns in the way the<a href="https://www.wionews.com/videos/coronavirus-outbreak-fresh-cases-being-detected-in-several-countries-spain-confirms-its-first-case-278026"> virus is being transmitted</a>, we should take a precautionary approach,” New Zealand's Prime Minister Jacinda Ardern said in a statement. New Zealand citizens and permanent residents can still enter the country, as can their immediate family members, but will be required to self-isolate for 14 days on arrival back in the country.

The ban will be in effect for up to 14 days, reviewed every 48 hours and includes all foreign travellers who left or transited through mainland China after February 2. There have been no confirmed cases of coronavirus in New Zealand.

Also Read:&nbsp;<a href="https://www.wionews.com/world/coronavirus-death-toll-soars-to-259-as-chinas-isolation-grows-278028">Coronavirus: Death toll soars to 259 as China's isolation grows</a>

<img alt="New Zealand PM" data-entity-type="file" data-entity-uuid="0680b2e1-8934-4c16-a02f-4bc212c9f06c" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20-%202020-02-02T111752.225.jpg" /> 
[ New Zealand Prime Minister Jacinda Ardern addresses the media (Courtesy: Reuters) ]

New Zealand's announcement followed a similar decision announced on Saturday by neighbouring Australia, where 12 cases of the coronavirus have been confirmed. China is facing mounting isolation amid increasing international travel curbs and flight suspension. Qantas Airways and Air New Zealand both said they were suspending direct flights to mainland China.

Australia announced during the week that it would evacuate locals from the Chinese city of Wuhan as part of a joint operation with New Zealand. 
Some health officials have criticized Australia's decision to move its evacuees to Christmas Island - about 1,500 kilometres (900 miles) from Australia, which had been used to hold thousands of refugees between 2002 and 2018.

Australian Health Minister Greg Hunt said on Sunday he expected Australians to be airlifted from Wuhan soon and that a medical assessment team and mobile hospital was ready to greet them. "Personnel are in place to receive the passengers from Wuhan and we expect that the flight will be collecting within the next 24 hours," Hunt said. 
&nbsp;

New Zealand announced on Sunday it would bar entry into the country from all foreign nationals arriving from mainland China due too the increasing threat from the coronavirus epidemic.

New Zealand announced on Sunday it would bar entry into the country from all foreign nationals arriving from mainland China due too the increasing threat from the coronavirus epidemic. The ban is in effect from Monday and the Ministry of Foreign Affairs and Trade also raised its travel advice to New Zealanders for all of mainland China to “Do not travel”, the highest level. "We have been advised by health officials that while there is still a range of unknowns in the way the virus is being transmitted, we should take a precautionary approach,” New Zealand's Prime Minister Jacinda Ardern said in a statement. New Zealand citizens and permanent residents can still enter the country, as can their immediate family members, but will be required to self-isolate for 14 days on arrival back in the country. The ban will be in effect for up to 14 days, reviewed every 48 hours and includes all foreign travellers who left or transited through mainland China after February 2. There have been no confirmed cases of coronavirus in New Zealand. Also Read: Coronavirus: Death toll soars to 259 as China's isolation grows [ New Zealand Prime Minister Jacinda Ardern addresses the media (Courtesy: Reuters) ] New Zealand's announcement followed a similar decision announced on Saturday by neighbouring Australia, where 12 cases of the coronavirus have been confirmed. China is facing mounting isolation amid increasing international travel curbs and flight suspension. Qantas Airways and Air New Zealand both said they were suspending direct flights to mainland China. Australia announced during the week that it would evacuate locals from the Chinese city of Wuhan as part of a joint operation with New Zealand. Some health officials have criticized Australia's decision to move its evacuees to Christmas Island - about 1,500 kilometres (900 miles) from Australia, which had been used to hold thousands of refugees between 2002 and 2018. Australian Health Minister Greg Hunt said on Sunday he expected Australians to be airlifted from Wuhan soon and that a medical assessment team and mobile hospital was ready to greet them. "Personnel are in place to receive the passengers from Wuhan and we expect that the flight will be collecting within the next 24 hours," Hunt said.

Foreigners from China barred entry to New Zealand; travel ban to last fortnight

India on Sunday reported second case of coronavirus. The second case is also a resident from Kerala. The patient has a history of travel to China, according to a statement by the government.

India on Sunday reported second case of coronavirus. The second case is also a resident from Kerala. The patient has a history of travel to China, according to a statement by the government. The patient is stable and is being kept in isolation in the hospital where the patient`s condition is being closely monitored, ANI report said. The first confirmed case of the coronavirus in India had also been reported from Kerala on January 30, as confirmed by the Union Health Ministry.

Second confirmed case of coronavirus reported in India 

A 44-year-old man in the Philippines has died of the coronavirus, health officials said on Sunday, making him the first known death outside China.

WION Exclusive: Philippines confirms 1st nCoV death outside China

A special Air India flight has returned to India with 324 Indian Nationals. The evacuees will remain under observation for 2 weeks. Meanwhile, 1 person in Kerala has been tested positive for the Coronavirus. WION's Palki gets you the story of the heroes fighting the China virus threat.

China virus: 324 Indians return home from Wuhan | Gravitas

Its a race against time for the doctors and nurses treating the patients infected by the coronavirus. This story is about the heroes who are fighting the battle against this disease.

Gravitas: The health professionals that are battling coronavirus

The Wuhan coronavirus is almost as big as the Sars outbreak. The WHO is being accused of dragging its feet. China faces the charge of covering up the extend of the outbreak. On WION Edit, Palki S Upadhyay asks - Who's to blame for the Wuhan virus outbreak?

WION Edit: Who's to blame for coronavirus outbreak

While the world is focusing on how China plans to contain the Wuhan Virus outbreak - it is worth considering what would happen if the epidemic continues to spread. Is the world prepared to handle a major global outbreak?

Gravitas: Wuhan Virus: The global picture of the outbreak

The Wuhan virus outbreak couldn't come at a worse time for China. The disease could pull down a slowing Chinese economy. Even the global economy will feel the pinch. Palki S Upadhyay assess the economic impact of this outbreak.

Gravitas: China virus outbreak could hurt global economy

Rumours about China's deadly virus are spreading fast. In this report, Palki S Upadhyay answers some frequently asked questions about the Wuhan coronavirus - separating the facts from fiction.

Gravitas: How to protect yourself from the Coronavirus

WION is the only Indian news network that is bringing you updates about the deadly virus outbreak in China - straight from its origins. In this report, WION's Palki S Upadhyay with Patrick Fok and Grace Lee get you the latest updates.

Gravitas: China's deadly virus: WION gets you a ground report

The <gwmw class="ginger-module-highlighter-mistake-type-1" id="gwmw-15804758428590289701161">coronavirus</gwmw> outbreak in China could start to disrupt India's production of smartphones if it continues to spread in February, as it could delay component shipments, industry executives said.

India is the world's biggest smartphone maker after China but is still largely dependent on China for supplies of parts such as cells, display panels, camera modules and printed circuit boards.

Taiwan's Foxconn and Wistron make iPhones in India for Apple, and Foxconn produces phones there for China's Xiaomi as well. Other smartphone makers in India include <a href="https://www.wionews.com/business-economy/samsung-electronics-third-quarter-net-profit-slumps-52-258964">South Korea's Samsung</a> and China's OnePlus.

So far smartphone makers in India have weathered the impact of the virus, which has already killed 170 people, partly because they had ramped up inventories of Chinese-made parts anyway to cover the Lunar New Year holiday period when China's factories close down.

"Those disruptions were already planned but if it (the virus' spread) gets prolonged then for March and April production we will have serious trouble," said S.N. Rai, the co-founder of homegrown smartphone maker Lava.

"We're definitely worried about it." Some components can be shipped in from markets such as South Korea, Vietnam or Taiwan, but smartphone makers will only make such purchases as a "last resort" as it would force companies to make changes including in design and software, Rai said.

Samsung declined to comment, while Foxconn, Wistron, Apple and Xiaomi did not respond to requests for comment. China's OnePlus said its Indian operations could manage, in the short term at least.

&nbsp;"We are well covered because we have the entire production in India, we already have enough stock, and even going forward many of the components will anyway be coming directly from other markets," said Vikas Agarwal, the India head of OnePlus.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/latest-business-news-apple-prepares-from-for-virus-fallout-samsung-says-it-will-affect-first-quarter-earnings-277547">Apple prepares for Coronavirus fallout, Samsung fears it may affect earnings</a>

While Beijing has expressed confidence in defeating the "devil" virus, which is yet to be declared a global emergency by the World Health Organisation, major companies such as Alphabet Inc's Google and Sweden's IKEA have closed operations in China.

India's Tata Motors, which counts China as a major market for its luxury Jaguar Land Rover cars, said on Thursday it was worried about the coronavirus and warned that the outbreak could hit profits.

As several airlines suspend flights to China, the movement of technical staff from the country - such as on-site support executives, machine and automation specialists - will also be curtailed and that will hit India's smartphone sector, an executive at another foreign-owned smartphone maker, who did not wish to be named, said.

For now, the industry just hopes the outbreak can be contained within the next two weeks. "If the problem persists beyond February 10 then we have a real problem at hand," said Pankaj Mohindroo, head of the India Cellular &amp; Electronics Association, an industry lobby group.

The coronavirus outbreak in China could start to disrupt India's production of smartphones if it continues to spread in February, as it could delay component shipments, industry executives said.

The coronavirus outbreak in China could start to disrupt India's production of smartphones if it continues to spread in February, as it could delay component shipments, industry executives said. India is the world's biggest smartphone maker after China but is still largely dependent on China for supplies of parts such as cells, display panels, camera modules and printed circuit boards. Taiwan's Foxconn and Wistron make iPhones in India for Apple, and Foxconn produces phones there for China's Xiaomi as well. Other smartphone makers in India include South Korea's Samsung and China's OnePlus. So far smartphone makers in India have weathered the impact of the virus, which has already killed 170 people, partly because they had ramped up inventories of Chinese-made parts anyway to cover the Lunar New Year holiday period when China's factories close down. "Those disruptions were already planned but if it (the virus' spread) gets prolonged then for March and April production we will have serious trouble," said S.N. Rai, the co-founder of homegrown smartphone maker Lava. "We're definitely worried about it." Some components can be shipped in from markets such as South Korea, Vietnam or Taiwan, but smartphone makers will only make such purchases as a "last resort" as it would force companies to make changes including in design and software, Rai said. Samsung declined to comment, while Foxconn, Wistron, Apple and Xiaomi did not respond to requests for comment. China's OnePlus said its Indian operations could manage, in the short term at least. "We are well covered because we have the entire production in India, we already have enough stock, and even going forward many of the components will anyway be coming directly from other markets," said Vikas Agarwal, the India head of OnePlus. Also Read: Apple prepares for Coronavirus fallout, Samsung fears it may affect earnings While Beijing has expressed confidence in defeating the "devil" virus, which is yet to be declared a global emergency by the World Health Organisation, major companies such as Alphabet Inc's Google and Sweden's IKEA have closed operations in China. India's Tata Motors, which counts China as a major market for its luxury Jaguar Land Rover cars, said on Thursday it was worried about the coronavirus and warned that the outbreak could hit profits. As several airlines suspend flights to China, the movement of technical staff from the country - such as on-site support executives, machine and automation specialists - will also be curtailed and that will hit India's smartphone sector, an executive at another foreign-owned smartphone maker, who did not wish to be named, said. For now, the industry just hopes the outbreak can be contained within the next two weeks. "If the problem persists beyond February 10 then we have a real problem at hand," said Pankaj Mohindroo, head of the India Cellular & Electronics Association, an industry lobby group.

China virus causes scare for India's smartphone makers

International airlines from France, UK, US and India have suspended flights to China over fears of the spread of the deadly coronavirus. The virus is showing no sign of reducing, overnight the death toll climbed to 213 with more than 2000 new cases being reported across the country.

More than 2,000 new Coronavirus cases reported in China, death toll rises to 213

Air India special flight departing from Delhi on Friday will evacuate around 400 Indians trapped in the <a href="https://www.wionews.com/world/coronavirus-fears-grip-chinas-borders-families-of-uk-citizens-barred-from-departing-as-they-hold-chinese-passports-277484">coronavirus-hit Chinese city of Wuhan</a>, the national carrier's Chairman and Managing Director Ashwani Lohani said.

Lohani said that the Boeing 747 Jumbo aircraft will take off at 12 pm from Delhi today and will return by 2 am on Saturday. "We are sending a Boeing 747 Jumbo aircraft. Around 400 Indians will be evacuated today from Wuhan in China by <a href="https://www.wionews.com/india-news/air-india-disinvestment-begins-modi-govt-invites-bids-for-100-stake-sale-276796">Air India</a> flight. It will take off at 12 pm today and will return by 2 am tomorrow," he added.

<img alt="CMD Ashwani Lohani" data-entity-type="file" data-entity-uuid="40457b0e-386f-4ade-b624-2a28836753a4" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2824%29_4.jpg" /> 
[ Ashwani Lohani, Chairman, Managing Director, Air India (Courtesy: ANI) ]

The flight will include all <a href="https://www.wionews.com/india-news/air-india-has-to-be-privatised-no-other-option-hardeep-puri-271260">necessary </a>resources like masks, medical equipment, packed food, prescribed medicines, along with a team of five doctors from the Health Ministry, and paramedical personnel from <a href="https://www.wionews.com/videos/government-puts-100-of-air-india-on-sale-277092">Air India</a>. Twenty crew members, including 15 cabin crew and five cockpit crew will be on board. Lohani said that the team of doctors and crew will be led by Air India's Director of Operations Captain Amitabh Singh.

Also Read: <a href="https://www.wionews.com/india-news/coronavirus-outbreak-indigo-air-india-suspend-most-china-bound-flights-no-case-in-india-yet-277405">Coronavirus outbreak: IndiGo, Air India suspend most China-bound flights; no case in India yet</a>

Lohani said that further arrangements for the passengers upon their return to India will be done by the Ministry of External Affairs and the Health Ministry. China has imposed a lockdown in Wuhan following the outbreak of the virus.

Coronavirus has claimed the lives of as many as 213 people in China alone, while cases have been reported in several countries across the world. Health authorities around the world are taking action to prevent a global pandemic as the virus continues to spread, with cases reported in Australia, France, the US, and several Asian countries besides China

Air India special flight departing from Delhi on Friday will evacuate around 400 Indians trapped in the coronavirus-hit Chinese city of Wuhan, the national carrier's Chairman and Managing Director Ashwani Lohani said.

Air India special flight departing from Delhi on Friday will evacuate around 400 Indians trapped in the coronavirus-hit Chinese city of Wuhan, the national carrier's Chairman and Managing Director Ashwani Lohani said. Lohani said that the Boeing 747 Jumbo aircraft will take off at 12 pm from Delhi today and will return by 2 am on Saturday. "We are sending a Boeing 747 Jumbo aircraft. Around 400 Indians will be evacuated today from Wuhan in China by Air India flight. It will take off at 12 pm today and will return by 2 am tomorrow," he added. [ Ashwani Lohani, Chairman, Managing Director, Air India (Courtesy: ANI) ] The flight will include all necessary resources like masks, medical equipment, packed food, prescribed medicines, along with a team of five doctors from the Health Ministry, and paramedical personnel from Air India. Twenty crew members, including 15 cabin crew and five cockpit crew will be on board. Lohani said that the team of doctors and crew will be led by Air India's Director of Operations Captain Amitabh Singh. Also Read: Coronavirus outbreak: IndiGo, Air India suspend most China-bound flights; no case in India yet Lohani said that further arrangements for the passengers upon their return to India will be done by the Ministry of External Affairs and the Health Ministry. China has imposed a lockdown in Wuhan following the outbreak of the virus. Coronavirus has claimed the lives of as many as 213 people in China alone, while cases have been reported in several countries across the world. Health authorities around the world are taking action to prevent a global pandemic as the virus continues to spread, with cases reported in Australia, France, the US, and several Asian countries besides China

Air India CMD says around 400 Indians to be evacuated from Wuhan

The new coronavirus has been declared a global emergency by the World Health Organization, as the outbreak continues to spread outside China. "The main reason for this declaration is not what is happening in China but what is happening in other countries," said WHO chief Tedros Adhanom Ghebreyesus.

WHO declares Coronavirus as global health emergency

Rumours of the deadly coronavirus are spreading faster than the Coronavirus itself. Watch this video to know some myths and facts about the coronavirus.

Myths and Facts about deadly Coronavirus

The city of Wuhan now looks like a ghost town after a deadly virus outbreak. Doctors and nurses are fighting the outbreak on war footing. Stranded foreign nationals are waiting for evacuation.

Gravitas: China's virus outbreak: Voices from Wuhan

The deadly coronavirus has now claimed 170 lived in China and more than 6000 people have been infected. Overnight 38 new casualties were reported with 37 deaths in the Hubei province. Nearly 60 million people remained under lockdown in the central province. Several medical teams have been dispatched to Wuhan, the city where the virus first broke out.

Coronavirus death toll rises to 170 in China

WION is the only Indian network that has been tracking the deadly virus outbreak from China.

Gravitas: China's deadly virus speads — WION reports from ground zero

South Korean battery maker <a href="https://www.wionews.com/world/us-aged-21-phones-are-a-greater-threat-than-guns-in-vermont-273423">Samsung</a> SDI Co Ltd said on Thursday its first-quarter earnings could be negatively affected by a virus outbreak in China.

The total number of confirmed deaths from the virus in China had risen by 38 to 170 as of Wednesday, and the number of infected patients had risen to over 7,700.

<a href="https://www.wionews.com/business-economy/the-transformation-tale-of-mobile-phones-how-we-evolved-from-nokia-3310-to-samsung-galaxy-fold-271299">Samsung</a> SDI, an affiliate of South Korean tech giant Samsung Electronics Co Ltd, counts Volvo and Volkswagen among its customers.

<img alt="Samsung" data-entity-type="file" data-entity-uuid="54388805-24c3-4d63-ba45-10cc68d8944a" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2815%29_11.jpg" /> 
[ A customer stands near Samsung logo during Galaxy Note 8 consumer launch event (Courtesy: Reuters) ]

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/apples-iphone-sales-in-china-up-18-in-december-sources-273217">Apple's iPhone sales in China up 18 per cent in December: Report</a>

Meanwhile, &nbsp;<a href="https://www.wionews.com/business-economy/apple-supplier-japan-display-to-receive-830-million-from-asset-manager-ichigo-267874">Apple</a> said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Companies also asked the staff there to work from home.

Apple closed one of its retail stores in China, reduced hours at others and prevented employees from travelling.

South Korean battery maker Samsung SDI Co Ltd said on Thursday its first-quarter earnings could be negatively affected by a virus outbreak in China. The total number of confirmed deaths from the virus in China had risen by 38 to 170 as of Wednesday, and the number of infected patients had risen to over 7,700.

South Korean battery maker Samsung SDI Co Ltd said on Thursday its first-quarter earnings could be negatively affected by a virus outbreak in China. The total number of confirmed deaths from the virus in China had risen by 38 to 170 as of Wednesday, and the number of infected patients had risen to over 7,700. Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics Co Ltd, counts Volvo and Volkswagen among its customers. [ A customer stands near Samsung logo during Galaxy Note 8 consumer launch event (Courtesy: Reuters) ] Also Read: Apple's iPhone sales in China up 18 per cent in December: Report Meanwhile, Apple said it had baked into its outlook uncertainty related to a virus outbreak in China that has killed 132 and infected nearly 6,000. Companies also asked the staff there to work from home. Apple closed one of its retail stores in China, reduced hours at others and prevented employees from travelling.

Apple prepares for Coronavirus fallout, Samsung fears it may affect earnings

Consequences of the Coronavirus - Air travel is restricted, international business close down

Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but <a href="https://www.wionews.com/business-economy/global-stocks-edge-up-oil-drops-as-china-virus-worries-abate-276176">concerns about the coronavirus</a> outbreak in China kept enthusiasm in check and a safe-haven bid in <a href="https://www.wionews.com/business-economy/who-tempers-virus-fears-gold-eases-on-improved-risk-appetite-276399">gold and the dollar</a> alive. The yield on benchmark US Treasuries and German bunds fell as foreign governments evacuated citizens from the virus' epicentre in China and the World Health Organization voiced "grave concern" about person-to-person infection in three countries.

The death toll in China from the virus rose by 27 to 133, and 1,459 other cases were confirmed. A Chinese government economist said the outbreak could <a href="https://www.wionews.com/business-economy/global-markets-risk-assets-slip-on-chinese-virus-anxiety-275925">cut China's first-quarter growth</a> by one point to 5 per cent or lower as the crisis hits sectors from mining to luxury goods.

The Federal Reserve left interest rates unchanged at its first policy meeting of the year. Officials pointed to continued moderate US economic growth and a "strong" job market. Since the Fed cut rates in October, policymakers have kept their target rate in a range of 1.50 per cent to 1.75 per cent.

Treasury yields were little changed after the Fed released its policy statement. Benchmark US stock indexes initially ticked up to the day's highs before paring gains to close at break-even. The <a href="https://www.wionews.com/business-economy/gold-climbs-to-two-week-high-as-china-flu-scare-spurs-safe-haven-bids-275730">market's muted reaction</a> to the virus' spread, which is close to the number of people infected by the SARS outbreak in 2003, is very positive, said Kristina Hooper, chief global market strategist at Invesco in New York.

Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but <a href="https://www.wionews.com/business-economy/global-stocks-edge-up-oil-drops-as-china-virus-worries-abate-276176">concerns about the coronavirus</a> outbreak in China kept enthusiasm in check and a safe-haven bid in <a href="https://www.wionews.com/business-economy/who-tempers-virus-fears-gold-eases-on-improved-risk-appetite-276399">gold and the dollar</a> alive. The yield on benchmark US Treasuries and German bunds fell as foreign governments evacuated citizens from the virus' epicentre in China and the World Health Organization voiced "grave concern" about person-to-person infection in three countries.

The death toll in China from the virus rose by 27 to 133, and 1,459 other cases were confirmed. A Chinese government economist said the outbreak could <a href="https://www.wionews.com/business-economy/global-markets-risk-assets-slip-on-chinese-virus-anxiety-275925">cut China's first-quarter growth</a> by one point to 5 per cent or lower as the crisis hits sectors from mining to luxury goods.

The Federal Reserve left interest rates unchanged at its first policy meeting of the year. Officials pointed to continued moderate US economic growth and a "strong" job market. Since the Fed cut rates in October, policymakers have kept their target rate in a range of 1.50 per cent to 1.75 per cent.

Treasury yields were little changed after the Fed released its policy statement. Benchmark US stock indexes initially ticked up to the day's highs before paring gains to close at break-even. The <a href="https://www.wionews.com/business-economy/gold-climbs-to-two-week-high-as-china-flu-scare-spurs-safe-haven-bids-275730">market's muted reaction</a> to the virus' spread, which is close to the number of people infected by the SARS outbreak in 2003, is very positive, said Kristina Hooper, chief global market strategist at Invesco in New York.

"The fact that stocks have held up today in light of the negative news on the novel coronavirus is a sign that the Fed is a dominant factor in keeping markets calm," Hooper said. The practice of buying $60 billion every month of US Treasury bills to ensure adequate short-term liquidity in bank funding markets will remain in place at least into April, as will a related offering of repurchase agreements, the Fed said.

Strong results from Santander helped bank stocks in Europe. Gains in Apple Inc and Boeing Co lifted shares on Wall Street, but a spate of disappointing results from AT&amp;T and Advanced Micro Devices Inc, among others, weighed on equities. MSCI's gauge of stocks across the globe shed 0.01 per cent as emerging market stocks lost 0.38 per cent. Mexico's bolsa index bucked the downdraft in emerging markets, rising about 0.93 per cent.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/global-stocks-slide-to-two-week-low-on-china-virus-fears-safe-havens-gain-277082">Global stocks slide to two-week low on China virus fears, safe havens gain</a>

US President Donald Trump signed a new trade agreement with Canada and Mexico into law on Wednesday, replacing the 26-year-old North American Free Trade Agreement. The pan-European STOXX 600 index rose 0.44 per cent, with the euro-zone banks' index gaining 1 per cent. Santander posted a higher quarterly net profit, boosted by a solid underlying performance in Brazil and capital gains. Santander rose 4.4 per cent.

Apple gained 2.1 per cent after reporting earnings for the holiday shopping quarter above analysts' expectations, even as it braced for more supply disruptions in virus-hit China.

The Dow Jones Industrial Average rose 11.6 points, or 0.04 per cent, to 28,734.45. The S&amp;P 500 lost 2.84 points, or 0.09 per cent, to 3,273.4 and the Nasdaq Composite added 5.48 points, or 0.06 per cent, to 9,275.16. Spot gold prices rose as concerns about economic growth due to the coronavirus buoyed safe-haven demand, but US gold futures settled little changed at $1,570.40 per ounce.

Oil was mixed, weighed by worries about how the coronavirus could affect demand and swelling US crude inventories. Talk that the Organization of the Petroleum Exporting Countries could extend crude output cuts provided support.

Brent crude gained 30 cents to settle at $59.81 a barrel, while US crude fell 15 cents to settle at $53.33. Demand strengthened for the dollar index and the safe-haven Japanese yen firmed modestly. A risk-off tone returned to currency markets amid uncertainty about the coronavirus. The dollar index rose 0.07 per cent, with the euro down 0.14 per cent to $1.1005. The yen strengthened 0.09 per cent versus the greenback at 109.06 per dollar. Benchmark 10-year US Treasury notes rose 18/32 in price to push down its yield to 1.5805 per cent.

Hooper said. The practice of buying $60 billion every month of US Treasury bills to ensure adequate short-term liquidity in bank funding markets will remain in place at least into April, as will a related offering of repurchase agreements, the Fed said.

Strong results from Santander helped bank stocks in Europe. Gains in Apple Inc and Boeing Co lifted shares on Wall Street, but a spate of disappointing results from AT&amp;T and Advanced Micro Devices Inc, among others, weighed on equities. MSCI's gauge of stocks across the globe shed 0.01 per cent as emerging market stocks lost 0.38 per cent. Mexico's bolsa index bucked the downdraft in emerging markets, rising about 0.93 per cent.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/global-stocks-slide-to-two-week-low-on-china-virus-fears-safe-havens-gain-277082">Global stocks slide to two-week low on China virus fears, safe havens gain</a>

US President Donald Trump signed a new trade agreement with Canada and Mexico into law on Wednesday, replacing the 26-year-old North American Free Trade Agreement. The pan-European STOXX 600 index rose 0.44 per cent, with the euro-zone banks' index gaining 1 per cent. Santander posted a higher quarterly net profit, boosted by a solid underlying performance in Brazil and capital gains. Santander rose 4.4 per cent.

Apple gained 2.1 per cent after reporting earnings for the holiday shopping quarter above analysts' expectations, even as it braced for more supply disruptions in virus-hit China.

The Dow Jones Industrial Average rose 11.6 points, or 0.04 per cent, to 28,734.45. The S&amp;P 500 lost 2.84 points, or 0.09 per cent, to 3,273.4 and the Nasdaq Composite added 5.48 points, or 0.06 per cent, to 9,275.16. Spot gold prices rose as concerns about economic growth due to the coronavirus buoyed safe-haven demand, but US gold futures settled little changed at $1,570.40 per ounce.

Oil was mixed, weighed by worries about how the coronavirus could affect demand and swelling US crude inventories. Talk that the Organization of the Petroleum Exporting Countries could extend crude output cuts provided support.

Brent crude gained 30 cents to settle at $59.81 a barrel, while US crude fell 15 cents to settle at $53.33. Demand strengthened for the dollar index and the safe-haven Japanese yen firmed modestly. A risk-off tone returned to currency markets amid uncertainty about the coronavirus. The dollar index rose 0.07 per cent, with the euro down 0.14 per cent to $1.1005. The yen strengthened 0.09 per cent versus the greenback at 109.06 per dollar. Benchmark 10-year US Treasury notes rose 18/32 in price to push down its yield to 1.5805 per cent.

Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but concerns about the coronavirus outbreak in China kept enthusiasm in check and a safe-haven bid in gold and the dollar alive.

Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but concerns about the coronavirus outbreak in China kept enthusiasm in check and a safe-haven bid in gold and the dollar alive. The yield on benchmark US Treasuries and German bunds fell as foreign governments evacuated citizens from the virus' epicentre in China and the World Health Organization voiced "grave concern" about person-to-person infection in three countries. The death toll in China from the virus rose by 27 to 133, and 1,459 other cases were confirmed. A Chinese government economist said the outbreak could cut China's first-quarter growth by one point to 5 per cent or lower as the crisis hits sectors from mining to luxury goods. The Federal Reserve left interest rates unchanged at its first policy meeting of the year. Officials pointed to continued moderate US economic growth and a "strong" job market. Since the Fed cut rates in October, policymakers have kept their target rate in a range of 1.50 per cent to 1.75 per cent. Treasury yields were little changed after the Fed released its policy statement. Benchmark US stock indexes initially ticked up to the day's highs before paring gains to close at break-even. The market's muted reaction to the virus' spread, which is close to the number of people infected by the SARS outbreak in 2003, is very positive, said Kristina Hooper, chief global market strategist at Invesco in New York. Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but concerns about the coronavirus outbreak in China kept enthusiasm in check and a safe-haven bid in gold and the dollar alive. The yield on benchmark US Treasuries and German bunds fell as foreign governments evacuated citizens from the virus' epicentre in China and the World Health Organization voiced "grave concern" about person-to-person infection in three countries. The death toll in China from the virus rose by 27 to 133, and 1,459 other cases were confirmed. A Chinese government economist said the outbreak could cut China's first-quarter growth by one point to 5 per cent or lower as the crisis hits sectors from mining to luxury goods. The Federal Reserve left interest rates unchanged at its first policy meeting of the year. Officials pointed to continued moderate US economic growth and a "strong" job market. Since the Fed cut rates in October, policymakers have kept their target rate in a range of 1.50 per cent to 1.75 per cent. Treasury yields were little changed after the Fed released its policy statement. Benchmark US stock indexes initially ticked up to the day's highs before paring gains to close at break-even. The market's muted reaction to the virus' spread, which is close to the number of people infected by the SARS outbreak in 2003, is very positive, said Kristina Hooper, chief global market strategist at Invesco in New York. "The fact that stocks have held up today in light of the negative news on the novel coronavirus is a sign that the Fed is a dominant factor in keeping markets calm," Hooper said. The practice of buying $60 billion every month of US Treasury bills to ensure adequate short-term liquidity in bank funding markets will remain in place at least into April, as will a related offering of repurchase agreements, the Fed said. Strong results from Santander helped bank stocks in Europe. Gains in Apple Inc and Boeing Co lifted shares on Wall Street, but a spate of disappointing results from AT&T and Advanced Micro Devices Inc, among others, weighed on equities. MSCI's gauge of stocks across the globe shed 0.01 per cent as emerging market stocks lost 0.38 per cent. Mexico's bolsa index bucked the downdraft in emerging markets, rising about 0.93 per cent. Also Read: Global stocks slide to two-week low on China virus fears, safe havens gain US President Donald Trump signed a new trade agreement with Canada and Mexico into law on Wednesday, replacing the 26-year-old North American Free Trade Agreement. The pan-European STOXX 600 index rose 0.44 per cent, with the euro-zone banks' index gaining 1 per cent. Santander posted a higher quarterly net profit, boosted by a solid underlying performance in Brazil and capital gains. Santander rose 4.4 per cent. Apple gained 2.1 per cent after reporting earnings for the holiday shopping quarter above analysts' expectations, even as it braced for more supply disruptions in virus-hit China. The Dow Jones Industrial Average rose 11.6 points, or 0.04 per cent, to 28,734.45. The S&P 500 lost 2.84 points, or 0.09 per cent, to 3,273.4 and the Nasdaq Composite added 5.48 points, or 0.06 per cent, to 9,275.16. Spot gold prices rose as concerns about economic growth due to the coronavirus buoyed safe-haven demand, but US gold futures settled little changed at $1,570.40 per ounce. Oil was mixed, weighed by worries about how the coronavirus could affect demand and swelling US crude inventories. Talk that the Organization of the Petroleum Exporting Countries could extend crude output cuts provided support. Brent crude gained 30 cents to settle at $59.81 a barrel, while US crude fell 15 cents to settle at $53.33. Demand strengthened for the dollar index and the safe-haven Japanese yen firmed modestly. A risk-off tone returned to currency markets amid uncertainty about the coronavirus. The dollar index rose 0.07 per cent, with the euro down 0.14 per cent to $1.1005. The yen strengthened 0.09 per cent versus the greenback at 109.06 per dollar. Benchmark 10-year US Treasury notes rose 18/32 in price to push down its yield to 1.5805 per cent. Hooper said. The practice of buying $60 billion every month of US Treasury bills to ensure adequate short-term liquidity in bank funding markets will remain in place at least into April, as will a related offering of repurchase agreements, the Fed said. Strong results from Santander helped bank stocks in Europe. Gains in Apple Inc and Boeing Co lifted shares on Wall Street, but a spate of disappointing results from AT&T and Advanced Micro Devices Inc, among others, weighed on equities. MSCI's gauge of stocks across the globe shed 0.01 per cent as emerging market stocks lost 0.38 per cent. Mexico's bolsa index bucked the downdraft in emerging markets, rising about 0.93 per cent. Also Read: Global stocks slide to two-week low on China virus fears, safe havens gain US President Donald Trump signed a new trade agreement with Canada and Mexico into law on Wednesday, replacing the 26-year-old North American Free Trade Agreement. The pan-European STOXX 600 index rose 0.44 per cent, with the euro-zone banks' index gaining 1 per cent. Santander posted a higher quarterly net profit, boosted by a solid underlying performance in Brazil and capital gains. Santander rose 4.4 per cent. Apple gained 2.1 per cent after reporting earnings for the holiday shopping quarter above analysts' expectations, even as it braced for more supply disruptions in virus-hit China. The Dow Jones Industrial Average rose 11.6 points, or 0.04 per cent, to 28,734.45. The S&P 500 lost 2.84 points, or 0.09 per cent, to 3,273.4 and the Nasdaq Composite added 5.48 points, or 0.06 per cent, to 9,275.16. Spot gold prices rose as concerns about economic growth due to the coronavirus buoyed safe-haven demand, but US gold futures settled little changed at $1,570.40 per ounce. Oil was mixed, weighed by worries about how the coronavirus could affect demand and swelling US crude inventories. Talk that the Organization of the Petroleum Exporting Countries could extend crude output cuts provided support. Brent crude gained 30 cents to settle at $59.81 a barrel, while US crude fell 15 cents to settle at $53.33. Demand strengthened for the dollar index and the safe-haven Japanese yen firmed modestly. A risk-off tone returned to currency markets amid uncertainty about the coronavirus. The dollar index rose 0.07 per cent, with the euro down 0.14 per cent to $1.1005. The yen strengthened 0.09 per cent versus the greenback at 109.06 per dollar. Benchmark 10-year US Treasury notes rose 18/32 in price to push down its yield to 1.5805 per cent.

Latest Business News - Global stock rally loses steam; safe havens still going strong due to growing virus fears

Jyllands-Posten cartoon has been declared "an insult to China" by the Chinese Embassy in Denmark and has demanded a public apology from the cartoonist Niels Bo Bojesen as well as the paper in which the cartoon was published.

Similar to the outrage that the cartoon of Prophet Muhammad in 2005 spawned, the <a href="https://www.wionews.com/india-news/wuhan-coronavirus-dos-and-donts-symptoms-276479">coronavirus </a>cartoon furore has spread to social media.&nbsp; 
China's public have shared memes of Denmark's surrender to Nazi Germany in World War Two, stating that the surrender took place in four hours, while Danes vigorously defend Jyllands-Posten on Twitter.

Also Read:<a href="https://www.wionews.com/world/coronavirus-more-japanese-evacuated-from-china-virus-epicentre-death-toll-climbs-to-170-277434">&nbsp;Coronavirus: Death toll climbs to 170, the infection spreads to every Chinese region</a>

China was reminded by Danish Prime Minister Mette Frederiksen that Denmark has the freedom of expression, be it spoken or drawn. Rushing to the defense of the paper were other Danish politicians who have stood by the paper's right to publish such a cartoon.

The <a href="https://www.wionews.com/photos/tracking-chinas-sars-like-coronavirus-275537">grip of the coronavirus</a> on China has paralysed transit in and around the Hubei Province, which shelters about 60 million people. Wuhan, the provincial capital was the epicentre of the virus and <a href="https://www.wionews.com/world/coronavirus-outbreak-china-reports-2744-confirmed-cases-of-80-deaths-276738">more than 100 people have died</a> from contracting it.

Jacob Nybroe, Chief Editor of Jyllands-Posten insists that his paper was not making light of the situation, saying "We cannot apologise for something we don't think is wrong. We have no intention of being demeaning or to mock, nor do we think that the drawing does. As far as I can see, this here is about different forms of cultural understanding."

Jyllands-Posten cartoon has been declared "an insult to China" by the Chinese Embassy in Denmark and has demanded a public apology from the cartoonist Niels Bo Bojesen as well as the paper in which the cartoon was published.

Jyllands-Posten cartoon has been declared "an insult to China" by the Chinese Embassy in Denmark and has demanded a public apology from the cartoonist Niels Bo Bojesen as well as the paper in which the cartoon was published. Similar to the outrage that the cartoon of Prophet Muhammad in 2005 spawned, the coronavirus cartoon furore has spread to social media. China's public have shared memes of Denmark's surrender to Nazi Germany in World War Two, stating that the surrender took place in four hours, while Danes vigorously defend Jyllands-Posten on Twitter. Also Read: Coronavirus: Death toll climbs to 170, the infection spreads to every Chinese region China was reminded by Danish Prime Minister Mette Frederiksen that Denmark has the freedom of expression, be it spoken or drawn. Rushing to the defense of the paper were other Danish politicians who have stood by the paper's right to publish such a cartoon. The grip of the coronavirus on China has paralysed transit in and around the Hubei Province, which shelters about 60 million people. Wuhan, the provincial capital was the epicentre of the virus and more than 100 people have died from contracting it. Jacob Nybroe, Chief Editor of Jyllands-Posten insists that his paper was not making light of the situation, saying "We cannot apologise for something we don't think is wrong. We have no intention of being demeaning or to mock, nor do we think that the drawing does. As far as I can see, this here is about different forms of cultural understanding."

Danish cartoon sparks 'Twitterfeud' between China and Denmark: Publisher insists it was not poking fun

Tracking the deadly coronavirus WION brings you latest report from inside Chinese city of Wuhan. People are helpless in the lockdown situation of Wuhan. Some people have become heroes in this time of crisis. Residents are taking every measure to tackle this deadly virus.

WION brings you stories of heroes from Wuhan under lockdown

The deadly coronavirus continues to wreak havoc in China with 25 new fatalities reported from central Hubei province taking the death toll to 132 and the confirmed infection cases to nearly 6,000

WION Dispatch: Death toll in China rises to 132

The deadly coronavirus has 132 lives in China with confirmed infections surging to nearly 6000 cases. It is not just China, many countries have confirmed new cases, including Sri Lanka, Germany and Cambodia which have confirmed their first cases.

WION Dispatch: Coronavirus Update: US Evacuates Citizens From Hot Zone

The deadly coronavirus has 132 lives in China with confirmed infections surging to nearly 6000 cases. It is not just China, many countries have confirmed new cases, including Sri Lanka, Germany and Cambodia which have confirmed their first cases. Fresh cases have been identified in France, Japan, Thailand and Canada. Watch report:

China confident of slaying devil 'coronavirus', Death toll rises to 132

The spread of coronavirus has spread fear across the world, in this clip WION tells you how you can avoid the infection.

WION Explains how to protect yourself from Coronavirus

Australian scientists have claimed to have developed a lab grown version of the new deadly virus from a patient's sample. Dr. Mike Catton from The Peter Doherty Institute for Infection and Immunity said the development will enable scientists to accurately investigate and diagnose the coronavirus.

Australian scientist claims lab version of virus

Gold rose on Wednesday, propped up by lingering concerns over the <a href="https://www.wionews.com/business-economy/global-stocks-slide-to-two-week-low-on-china-virus-fears-safe-havens-gain-277082">economic impact of a coronavirus outbreak</a> in China, while investors awaited a policy decision from the US Federal Reserve later in the day.

Spot gold was up 0.3 per cent at $1,571.07 an ounce by 1125 GMT, <a href="https://www.wionews.com/business-economy/equities-and-oil-tank-plunge-as-deadly-coronavirus-triggers-panic-276900">having fallen</a> about 1 per cent in the previous session after positive US economic data drove recovery inequities. The US gold futures were little changed at $1,570.60 an ounce.

"The coronavirus will definitely have some impact on the Chinese economy and that will <a href="https://www.wionews.com/business-economy/oil-rout-extends-to-sixth-day-as-china-virus-death-toll-rises-277073">mostly affect the country's currency</a>, but an impulsive bull trend in gold is not expected yet," said Bernard Sin, group head of trading at MKS.

Safe-haven gold held aloft despite signs of stabilisation in <a href="https://www.wionews.com/business-economy/oil-slips-to-62-heads-for-weekly-loss-on-china-virus-concerns-276358">global stock markets</a> as equities investors tried to look past China's coronavirus outbreak, encouraged by better-than-expected company earnings.

While <a href="https://www.wionews.com/business-economy/barclays-sees-2-per-barrel-impact-to-oil-prices-as-virus-fears-threaten-demand-277075">rising stocks</a> are capping gold's gains, it is still being supported by other factors such as uncertainty around US President Donald Trump's impeachment and tensions in the Middle East, said Quantitative Commodity Research analyst Peter Fertig.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/who-tempers-virus-fears-gold-eases-on-improved-risk-appetite-276399">Gold prices ease after WHO tempers coronavirus fears</a>

Risk aversion has not completely lifted, however. With the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict damage on Chinese growth. 
If there is an escalation, gold could reach $1,600, Jeffrey Halley, senior market analyst at OANDA, said in a note.

Investors are now waiting for the Fed's monetary policy statement at 1900 GMT. Possibly of greatest interest would be what if anything Fed Chair Jerome Powell has to say about the high Treasury purchases the Fed has been making since October to inject more liquidity into the money market, Commerzbank said in a note.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion. "The main driver for gold this year will be strategic inflows, as it will continue to be viewed as an attractive diversifier for investor portfolios in an environment where rates remain low," UBS strategist Joni Teves said.

Elsewhere, palladium fell 0.7 per cent to $2,272.77 an ounce, while platinum was up 0.7 per cent at $992.45. Palladium will cost on average more than twice as much as platinum this year, but that premium will narrow in 2021. Silver rose 0.5 per cent 
&nbsp;to $17.51, having earlier dipped to its lowest since December 23 at $17.35. 
&nbsp;

Gold rose on Wednesday, propped up by lingering concerns over the economic impact of a coronavirus outbreak in China, while investors awaited a policy decision from the US Federal Reserve later in the day.

Gold rose on Wednesday, propped up by lingering concerns over the economic impact of a coronavirus outbreak in China, while investors awaited a policy decision from the US Federal Reserve later in the day. Spot gold was up 0.3 per cent at $1,571.07 an ounce by 1125 GMT, having fallen about 1 per cent in the previous session after positive US economic data drove recovery inequities. The US gold futures were little changed at $1,570.60 an ounce. "The coronavirus will definitely have some impact on the Chinese economy and that will mostly affect the country's currency, but an impulsive bull trend in gold is not expected yet," said Bernard Sin, group head of trading at MKS. Safe-haven gold held aloft despite signs of stabilisation in global stock markets as equities investors tried to look past China's coronavirus outbreak, encouraged by better-than-expected company earnings. While rising stocks are capping gold's gains, it is still being supported by other factors such as uncertainty around US President Donald Trump's impeachment and tensions in the Middle East, said Quantitative Commodity Research analyst Peter Fertig. Also Read: Gold prices ease after WHO tempers coronavirus fears Risk aversion has not completely lifted, however. With the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict damage on Chinese growth. If there is an escalation, gold could reach $1,600, Jeffrey Halley, senior market analyst at OANDA, said in a note. Investors are now waiting for the Fed's monetary policy statement at 1900 GMT. Possibly of greatest interest would be what if anything Fed Chair Jerome Powell has to say about the high Treasury purchases the Fed has been making since October to inject more liquidity into the money market, Commerzbank said in a note. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. "The main driver for gold this year will be strategic inflows, as it will continue to be viewed as an attractive diversifier for investor portfolios in an environment where rates remain low," UBS strategist Joni Teves said. Elsewhere, palladium fell 0.7 per cent to $2,272.77 an ounce, while platinum was up 0.7 per cent at $992.45. Palladium will cost on average more than twice as much as platinum this year, but that premium will narrow in 2021. Silver rose 0.5 per cent to $17.51, having earlier dipped to its lowest since December 23 at $17.35.

Investors await signal from the US Federal Reserve, virus concerns felt across the world

Qantas Airways Ltd Chief Executive Alan Joyce said on Wednesday it was too early for the airline to quantify the financial impact of <a href="https://www.wionews.com/business-economy/coronavirus-outbreak-global-health-scares-and-its-impact-on-world-economy-277136">China's coronavirus epidemic</a> on its business but it was reviewing whether to end Beijing flights early.

<a href="https://www.wionews.com/world/passengers-evacuate-qantas-plane-via-emergency-slides-at-sydney-airport-268331">Qantas </a>in November said it was axing its underperforming Sydney-Beijing route from March due to stiff competition from Chinese airlines and weak business class demand.

"We continue to review that, continue to review the loads, and whether we look to do that earlier, or keep it operating until that date," Joyce told reporters at the opening of a new pilot training school in Queensland, according to reports.

Also Read:&nbsp;<a href="https://www.wionews.com/videos/coronavirus-outbreak-china-records-1st-virus-death-in-beijing-wion-news-world-news-277124">Coronavirus Outbreak: China Records 1st Virus Death In Beijing | WION News | World News</a>

He said the most similar comparison to coronavirus was the SARS epidemic in 2003, which cost the carrier $55 million in lost earnings over a six to eight-month period and led it to cut some international capacity.

UBS analysts on Tuesday estimated Qantas could take an earnings hit of $204 million to $513 million in the 2021 financial year depending on traffic declines as a result of the coronavirus.

Joyce said he did not comment on analyst reports as a rule but noted that UBS assumed a much worse financial impact than the airline had experienced from SARS.

He added that a fall in the oil price over the past month was benefiting the airline and the carrier did not expect a material financial impact from widespread bushfires in Australia that have hit the local tourism industry.

Qantas Airways Ltd Chief Executive Alan Joyce said on Wednesday it was too early for the airline to quantify the financial impact of China's coronavirus epidemic on its business but it was reviewing whether to end Beijing flights early.

Qantas Airways Ltd Chief Executive Alan Joyce said on Wednesday it was too early for the airline to quantify the financial impact of China's coronavirus epidemic on its business but it was reviewing whether to end Beijing flights early. Qantas in November said it was axing its underperforming Sydney-Beijing route from March due to stiff competition from Chinese airlines and weak business class demand. "We continue to review that, continue to review the loads, and whether we look to do that earlier, or keep it operating until that date," Joyce told reporters at the opening of a new pilot training school in Queensland, according to reports. Also Read: Coronavirus Outbreak: China Records 1st Virus Death In Beijing | WION News | World News He said the most similar comparison to coronavirus was the SARS epidemic in 2003, which cost the carrier $55 million in lost earnings over a six to eight-month period and led it to cut some international capacity. UBS analysts on Tuesday estimated Qantas could take an earnings hit of $204 million to $513 million in the 2021 financial year depending on traffic declines as a result of the coronavirus. Joyce said he did not comment on analyst reports as a rule but noted that UBS assumed a much worse financial impact than the airline had experienced from SARS. He added that a fall in the oil price over the past month was benefiting the airline and the carrier did not expect a material financial impact from widespread bushfires in Australia that have hit the local tourism industry.

Coronavirus hits demands; Qantas CEO says they may decide to axe Beijing Route

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