Coronavirus update: Total number of confirmed cases climbs to 14,380

The total number of confirmed cases of coronavirus infections has risen to 14,380 as of Sunday morning, China's state broadcaster CCTV reported. The death toll now stands at 304, up 45 from the previous day. 

Meanwhile, China's Ministry of Agriculture and Rural Affairs has announced that an outbreak of the deadly H5N1 bird flu occurred in Hunan province. “The outbreak occurred in a farm in the Shuangqing district of Shaoyang city," the official statement read, as per the South China Morning Post (SCMP). The farm has 7,850 chickens, and 4,500 of the chickens have died from the contagion. Local authorities have culled 17,828 poultry after the outbreak.”

Market implications

Markets are poised to remain risk-averse at the start of the new week and traditional safe-havens, the JPY, gold and US reasury bonds, are likely to continue to find demand.