European stocks reach record highs on hopes virus is peaking

LONDON - World stocks resumed rising towards record highs on Tuesday and the dollar reached a four-month high as China’s top medical advisor said the coronavirus epidemic may plateau in the next few weeks.

The death toll in mainland China climbed past 1,000 on Tuesday, but the number of new confirmed cases fell. Zhong Nanshan, an epidemiologist who helped fight the SARS epidemic in 2003, said the situation in some provinces was already improving.The pan-European STOXX 600 index rose as much as 0.7% to a record high of 427.46 points. Basic resources stocks .SXPP led the gains, rising 1.7%, as commodity prices recovered from the slowdown in Chinese consumption of raw metals and energy.

In China, factories were slow to reopen after an extended Lunar New Year break, leading analysts at JPMorgan to again downgrade forecasts for growth this quarter. They assumed the contagion would peak in March and factories would slowly resume opening this month. In that case, growth would slow to around a 1% annualised pace in the first quarter, before rebounding to 9.3% in the second.

Source: News Formal (newsformal.com)

And not on hopes of further massive quantitative easing?

I personally wouldn't trust any numbers data out of China when their economy depends on keeping this suppressed. It is only common sense as their past track record is poor on transparency.

It's only getting started, population control

Pigs might fly - they havnt got a hope in hell its going to get a lot worse before it peaks - law of averages .

What a joke

This is what East Asia looks after only 31 days of epidemiological surveillance, what are they really hoping for ? (BNO News)

Yes it’s like Peking duck!!!😀

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