The Shanghai Composite index in China ended 25 points higher or 0.9% at 2,927 on Wednesday, building the previous’s session advance, amid hopes that the worst of the coronavirus outbreak in the country may have passed. In addition, China’s Hubei province on Wednesday reported that 94 people had died on Tuesday and there were 1,638 new cases, down from a peak of over 3,000 new cases on 4th February and the lowest number of new infections since 31st January. Elsewhere, in a testimony before Congress, US Federal Reserve Chair Jerome Powell said that the central bank is closely monitoring the development of the outbreak because it could lead to disruptions that affect the global economy.
