South Korea confirms 169 new coronavirus cases, total count at 1146, risk-off

Dhwani Mehta FXStreet

According to the latest data published by the Korea Center for Disease Control and Prevention (KCDC), the number of coronavirus cases in the country has risen to 1146, with 169 more cases confirmed.

Additional details

134 of the new cases are in Daegu.

4 in Seoul, 8 in Busan, 1 in Incheon.

19 in North Gyeongsang Province.

Yonhap cited that the South reported 12^th death as on Feb 26^th.

Meanwhile, Japan announced that it will ban foreigners who have visited Daegu in South Korea. CNBC reported that Cruise operator Royal Caribbean cancelled 30 cruises in Southeast Asia.

Earlier today, Singapore reported 90 new virus cases but no deaths so far.

Further, the total number of confirmed coronavirus cases in Italy increased to 323, including 11 deaths.

Risk-off grips Asia

A fresh risk-off wave is seen gripping Asia following the latest coronavirus stats from South Korea, as S&P 500 futures pare back the bounce in tandem with the Treasury yields.

The Japanese yen is also seen drawing fresh bids, knocking-off USD/JPY closer towards the 110 handle while the Aussie remains pressured below 0.6600, looking to retest the multi-year lows. Meanwhile, the Asian stocks trade with sizeable losses, as gold nears $1650.

The Korean won (KRW) jumped to a new two-day high at 1,220.12 against the greenback on the above headlines. USD/KRW looks to retest the half-yearly highs following a temporary correction seen a day before.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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