|

China reports 31 new coronavirus cases in Mainland as of end-March 29 vs 45 a day earlier

China reports 31 new coronavirus cases in the Mainland as of end-march 29 vs 45 a day earlier.

Key notes

  • China' s Hubei province reports total of 67,801 coronavirus cases and 3,186 deaths as of end-March 29
  • China' s Hubei province reports 0 new coronavirus cases as of end-March 29.
  • Hubei province reports 4 new coronavirus deaths as of end-March 29.
  • Coronavirus update: china says total of 81,470 coronavirus cases in Mainland China reported as of end-March 29.
  • Total of 3,304 deaths from coronavirus outbreak reported in mainland China as of end-March 29.
  • China reports 30 new imported coronavirus cases in the mainland as of end-March 29 vs 44 a day earlier.

Life is almost back to normal in much of China as people return to work with bars, offices shops and eateries open for business again along with a rival in the manufacturing industry. Wuhan, where the COVID-19 pandemic originated, is lagging, as is the rest of Hubei province—but even there, the lockdown is due to lift 8 April. The entire world is watching to see if the three-quarters of China's workforce back on the job as of 24 March will not encourage a new wave of a COVID-19 pandemic, or worse, a rapid spread and mutation of the virus. 

As per the stats, new infections now mostly come from outside, with more than 500 cases have been confirmed in incoming air passengers since 18 March. As a result, at midnight on Friday, China banned virtually all foreigners from entering the country and required all returning Chinese to be quarantined for 2 weeks, whether coming by air or overland. 

While the mainland gets back to work and life, things are very different of course, with millions still working from home, theatres closed, and people keeping a safe distance and wearing face masks as the norm. 

China is addressing an issue every country and location in the world will eventually face: how to normalize and restore societal activities, while at the same time minimizing disease-related dangers from the outbreak.

– Keiji Fukuda, University of Hong Kong.

Market implications

The yen is bid today and markets are skittish, mostly lower, following a risk-off sessing on Wall Street. The Dow closed down 4.1% and the S&P500 off 3.4%, both falling at the end of the session. Today, the Nikkei started out offered but has closed the gap, +0.30%. USD/JPY remains on the backfoot, -0.40%.

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

More from Ross J Burland
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD edges above 1.1750 due to ECB-Fed policy divergence

EUR/USD has recovered its recent losses registered in the previous session, trading around 1.1760 during the Asian hours on Friday. Traders will likely observe Germany’s Manufacturing Purchasing Managers’ Index data later in the day.

GBP/USD gathers strength above 1.3450 on Fed rate cut bets, BoE's gradual policy path

The GBP/USD pair gathers strength to around 1.3480 during the early Asian session on Friday. Expectations of the US Federal Reserve rate cuts this year weigh on the US Dollar against the Pound Sterling. Philadelphia Fed President Anna Paulson is set to speak later on the weekend. 

Gold climbs to near $4,350 on Fed rate cut bets, geopolitical risks

Gold price rises to near $4,345 during the early Asian session on Friday. Gold finished 2025 with a significant rally, achieving an annual gain of around 65%, its biggest annual gain since 1979. The rally of the precious metal is bolstered by the prospect of further US interest rate cuts in 2026 and safe-haven flows.

Bitcoin, Ethereum and Ripple enter the New Year with breakout hopes

Bitcoin, Ethereum, and Ripple entered the new year trading at key technical levels on Friday, as traders seek fresh directional cues in January. With BTC locked in a tight range, ETH is approaching its 50-day Exponential Moving Average, while XRP is nearing resistance. A clear breakout across these top three cryptocurrencies could help define market momentum in the opening weeks of the year.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).