Categories: Market Overview

Hong Kong is on the cusp of a large-scale coronavirus outbreak

Hong Kong is on the cusp of a large-scale coronavirus outbreak that may overload its health-care facilities and cost lives, Chief Executive Carrie Lam said on Wednesday as new social distancing measures took effect. In a prerecorded video address late Tuesday, Lam said there has been an “upsurge” in local infections, and there are “many with yet unknown sources.” Confirmed cases in Hong Kong soared in July, with a new daily high of 145 reported this week.

Also on Tuesday, authorities said they were investigating 106 new cases, bringing the total number to at least 2,884. Hong Kong was initially able to contain the virus despite being relatively close to the city of Wuhan in China, where infections were first detected in 2019. It was able to avoid imposing a lockdown while many other countries imposed restrictive social distancing measures, and even reopened Disneyland Hong Kong in mid-June.

However, new and stricter social distancing rules take effect in the city today, with a ban on gatherings of more than two people and the suspension of dine-in services.

Hong Kong is ‘on the verge’ of an outbreak that could lead to hospital system’s collapse, chief executive says, CNBC, Jul 29

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Crypto Market Retreats Due to Overhang of Sellers

Market picture The crypto market has lost 3.3% in the last 24 hours to $2.3…

7 hours ago

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

3 days ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

3 days ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

3 days ago

Cooler Bitcoin

Market picture  Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…

3 days ago

GBPCAD Wave Analysis 25 April 2024

- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…

4 days ago

This website uses cookies