European markets are set to open slightly higher on Wednesday morning after China recorded its lowest number of new coronavirus cases since January.
China's National Health Commission reportedand 97 deaths across the mainland on Wednesday, marking the lowest number of new cases in one day since late January, according to Reuters.
The outbreak, which originated in the Chinese city of Wuhan, which has killed 1,113 people in the country, has led to the shutting down of factories, businesses and transportation in China, leading to a surge inChangyong Rhee, director of the IMF's Asia and Pacific Department, said on Wednesday that China has room to inject fresh stimulus into its economy if the coronavirus crisis hurts growth, Reuters reported.
Shares in Asia were mostly higher on Wednesday as the coronavirus situation remained in focus. Singapore's Straits Times index led regional gains on an increase of around 1.4%, while China's Shanghai and Shenzhen composites both traded in positive territory. Back in Europe, December's industrial production numbers for the euro zone are due to be published at 10 a.m. London time.'s CEO will step down on June 1, Reuters reported on Tuesday. Jean-Francois van Boxmeer, who has held the chief executive position for 15 years, will be replaced by the head of the company's Asia-Pacific region.
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