China's National Health Commission says the death toll rate is around 3%. More medical resources going to Wuhan as markets breathe a sigh of relief.
The drug-related companies that rocketed on Friday and Monday are selling off as China predicts a leveling off in mortality rates. Shanghai Pharmaceutical is down 3.3%. BOQI International Medical , the drug store chain that rose over 80% in two days, is returning some of those gains back today and is off by 12%.Central Banker of the Year award? Yi Gang, governor of the People's Bank of China.
Industries that supply medical equipment and other necessary goods for public health may also get specific government support, mostly via credit easing. Since then, the PBoC cut certain interest rates by 10 basis points and pumped 1.2 trillion yuan of short-term liquidity into the banking system. Jiao Yahui, deputy director of the NHC’s Medical Administration Bureau, says the national fatality rate was 2.1%. “I think the mortality rate in Wuhan will fall further,” Jiao was quoted saying“We’re encouraged at suggestions that the outbreak may peak soon,” says Erik Knutzen, CIO at Neuberger Berman in New York. He suspects that because of the virus’s long incubation period, it could take until mid-February or March before the outbreak has been contained.
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