S. Korea reports 161 more confirmed coronavirus cases, 7th death on Monday
|Following a spurt in new coronavirus cases on Sunday, South Korea reported 161 more confirmed virus cases on Monday, bringing the total to 763, per Yonhap.
On Sunday, 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 Implications
The coronavirus contagion seems to be picking up rapidly across the Chinese borders and that has tempered the market mood dramatically starting out this week on Monday.
The Chinese stocks had a negative start and now extends declines, tracking the over 2% sell-off in the Australian and South Korean equity markets. KOSPI is down 3% to 2,097 levels.
Within currency markets, the Antipodeans remain heavy, with the AUD/USD pair battling 0.6600. USD/JPY trades flat around 111.60 amid a national holiday in Japan.
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