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Chinese stocks plummet as virus deaths fuel global growth fears

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Country's central bank says it would inject 1.2 tril yuan of liquidity into markets. FMTNews Chinese Stock

Investors retreated into safe-haven assets in the first trading session after extended Lunar New Year break.

The total number of deaths in China rose to 361 as of Sunday, up 57 from the previous day, the National Health Commission said. The number of new confirmed infections in China rose by 2,829, bringing the total to 17,205. Looking to head off a panic, China’s central bank said it would inject 1.2 trillion yuan of liquidity into the markets via reverse repo operations on Monday.

At least another 171 cases have been reported in more than two dozen other countries and regions, including the United States, Japan, Thailand, Hong Kong and Britain.

 

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