South Korea's confirmed cases break through 5000
Cumulative number of diagnoses and deaths: According to the Korean Health Department's report, as of 4 pm on the 3rd, the number of confirmed cases in South Korea increased to 5,186 and 31 deaths.
Impact on the economy / stock market: Economic growth expectations are lowered. The OECD released the Medium-Term Economic Outlook Report on the 2nd, which lowered South Korea's economic growth forecast for this year from 2.3% in November 2019 to 2%.
Government measures: 1. On March 1, the Korean government released a new treatment management plan, which divided patients into mild, moderate, severe, and critically ill patients. Patients with severe illness are admitted first, and patients with mild illness receive treatment at a life treatment center.
2. On March 2nd, the start time of primary and secondary schools and kindergartens in South Korea was postponed for another two weeks, from March 9th to 23rd; on the same day, the Korean government sold 5.88 million masks to alleviate the tight supply of masks.
3. On March 3, South Korean President Moon Jae-yin emphasized in a state conference speech that South Korea has entered a "war" phase with infectious diseases, and all government agencies must activate a 24-hour emergency system to jointly respond to the epidemic.
People ’s living conditions: masks are in short supply; the number of people watching movies has dropped sharply; many people have purchased health products such as red ginseng and are looking forward to improving immunity; public transport utilization has declined, and the number of private car travelers has increased; some companies have provided remote offices for employees; Sunday worship will be held online; concerts and sports events will be cancelled one after another.
Thousands of confirmed cases in Japan are about to break the Tokyo Olympics or postponed
Cumulative diagnosis and deaths: As of 11:00 pm on the 3rd local time, Japan has diagnosed a total of 999 cases of new crown pneumonia, including 279 people infected and Chinese tourists in Japan, and passengers and crew members of the "Diamond Princess" cruise ship. 706 people, and 14 people who returned to Japan by charter flights from the Japanese government. Among them, 6 died of new crown pneumonia in Japan, and 6 died of "Diamond Princess". The total number of deaths was 12.
Impact on the economy / stock market: The Bank of Japan Governor Tokuhiko Kuroda issued a speech on the 2nd, saying that measures will be taken to stabilize the market. The Japanese stock market ended a 6-day decline on the day, and the Nikkei 225 index rose 1%. On the 3rd, due to the surge in U.S. stocks, the Nikkei 225 index rose sharply at the opening. However, because investors were still worried about the spread of the new crown pneumonia epidemic, the broader market subsequently fluctuated downward and fell 1.22% at the end.
Government measures: 1. The Japanese National Assembly continued discussions on the response to the new crown epidemic on the 3rd. Prime Minister Abe called for the flexible use of 270 billion yen in emergency funds to subsidize employees who need temporary leave to take care of suspended students.
2. The Japanese ruling party also reached an agreement with the main opposition party on the 3rd, and will hold a party summit on the 4th to discuss legislative matters related to the announcement of the state of emergency.