South Korea cases cross 5,000

  • Global cases: At least 91,700, according to the latest figures from the World Health Organization
  • Global deaths: At least 3,100, according to the latest figures from the WHO

This is a live blog. Please check back for updates.

All times below are in Beijing time.

9:16 am: South Korea confirms 516 new cases, 4 additional deaths

New cases in South Korea climbed by 516 as of Wednesday morning, according to the Korea Centers for Disease Control and Prevention. The agency also confirmed four additional deaths.

Those latest figures bring South Korea’s total confirmed cases to 5,328 as the death toll climbed to 32, according to KCDC data.

So far, about three quarters of the country’s cases are in South Korea’s fourth-largest city Daegu. Many of those have been traced back to the Shincheonji Church of Jesus. — Wang

9:02 am: Hong Kong business activity plunges to record low

The coronavirus outbreak has had a “severe impact” on Hong Kong’s private sector, IHS Markit said in its latest release of its Hong Kong Purchasing Manager’s Index. The index hit a record low of 33.1 in February as “business conditions deteriorated at the steepest pace since the survey began in July 1998.”

“Measures taken in response to the Covid-19 situation and general fear of being infected saw business activity and new sales sinking at a record pace in an economy that has been beset earlier by political protests and US-China trade war tensions,” Bernard Aw, principal economist at IHS Markit, said in a statement. — Wang

8:29 am: New Zealand confirms second case

New Zealand’s health ministry confirmed a woman in her 30s who recently returned to Auckland from northern Italy has the coronavirus — the country’s second case. It said, however, the woman “doesn’t require hospital level care.”

New Zealand said the woman is self-isolated at home with “appropriate clinical support,” a protocol it said is an “appropriate response for people with mild to moderate symptoms.” The ministry maintained that “with continued vigilance the chance of widespread community outbreak is expected to remain low.” — Wang

A general view of passengers arriving at Auckland International Airport on February 5, 2020 in Auckland, New Zealand.

Michael Ng | Getty Images

8:17 am: Hong Kong cuts rate

Hong Kong Monetary Authority cut its base rate by 50 basis points to 1.5%. That move follows the U.S. Federal Reserve’s surprise emergency rate cut. The Hong Kong dollar is pegged to the greenback.

The U.S. central bank said in a statement, “The coronavirus poses evolving risks to economic activity.” — Wang

All times below are in Eastern time.

6:32 pm: Berkeley, California reports first case, declares emergency

A resident of Berkeley, California, tested positive for the virus — the college town’s first confirmed case, local health officials said. City Manager Dee Williams-Ridley proclaimed a local emergency, giving the city access to more resources to help contain any local cases. “While the risk of infection remains low, the expanded presence of the virus in our community is a reality we should all prepare for,” City of Berkeley Health Officer Dr. Lisa Hernandez said in a statement. —Kopecki

5:57 pm: Regeneron CEO hopes to have coronavirus vaccine ready for human testing possibly by this summer

4:53 pm: World Bank approves $12 billion in emergency financing to help poor nations

The World Bank approved $12 billion in emergency financing to help poor nations with the health costs and economic impact of the outbreak, the organization said. “We are working to provide a fast, flexible response based on developing country needs in dealing with the spread of COVID-19,” World Bank Group President David Malpass said in a statement. The money is intended to help the poorest and most at-risk nations fight the virus, which has spread to at least 74 countries across the globe, and will be used to provide emergency financing, technical assistance and policy advice. The International Monetary Fund and the World Bank said on Monday they stood ready to help member countries deal with the coronavirus outbreak, including through emergency funding. — Kopecki

Read CNBC’s coverage from the U.S. overnight: U.S. death toll hits 9 as mortality rate of COVID-19 rises

— CNBC’s Dawn Kopecki and Kevin Stankiewicz contributed to this report.

Source link