China’s State Assets Regulator: Impact of coronavirus outbreak on industries will mainly show in Feb

Amid risk-off at full steam in Asia, as rising coronavirus risks globally spook investors, China State‑owned Assets Supervision and Administration (SASAC), state assets regulator, Vice Chairman Ren came out on the wires, via Reuters, noting that the impact of coronavirus outbreak on industries will mainly show in February.

The scheduled production targets and reform plans of key State-owned enterprises will not be changed due to the COVID19 epidemic, he added.

Meanwhile, South Korea’s President Moon expressed his concerns about the virus spread, citing that the economy is in an emergency situation due to coronavirus.

Additional Comments:

The government should use all available policies to boost the local economy.

Policy support needed to boost corporate, consumer spending at home.