G7 finance officials pledge all possible steps to beat coronavirus

TOKYO - Group of Seven finance officials said on Tuesday they would take all possible steps to safeguard the global economy from the spreading coronavirus outbreak, with Bank of Japan governor Haruhiko Kuroda promising a"good message".

"This is a tug of war between hope and fear. Central banks are giving hopes with their potential stimulus," said Mr Vasu Menon, senior investment strategist at OCBC Bank Wealth Management."The question is what they will do? Monetary policy is already very loose and interest rates are very low." There are more than 90,000 cases globally, with more than 80,000 of them in China, and infections appearing in 77 other countries and territories, with Ukraine the latest country to report its first case. China's death toll is 2,943 with more than 75 deaths elsewhere.

The authorities on Tuesday asked overseas Chinese to reconsider or minimise their plans to travel home. All travellers entering Beijing from South Korea, Japan, Iran and Italy would have to be quarantined for 14 days, a city official said.

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South Korea: Stocks trim gains as coordinated G7 response hopes dashed[SEOUL] South Korean shares closed higher on Tuesday, but well off early gains, after a Reuters report dented hopes for a round of strongly coordinated stimulus measures by the G7. Read more at The Business Times.
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