Coronavirus deaths, cases leap in China; markets shiver

The sharp rise in the headline number of deaths and infections unnerved world markets, as traders halted a recent rally in stocks and retreated back to the safety of government bonds and gold.

Health officials in China’s central province of Hubei said 242 people had died from the flu-like virus on Wednesday, the fastest rise in the daily count since the pathogen was identified in December.

That took total deaths in China from the newly discovered virus to 1,367, up 254 from the previous day, the National Health Commission said.

The spike in numbers came a day after markets were cheered when China reported its lowest number of new cases in two weeks, bolstering a forecast by the country’s senior medical adviser that the epidemic could end by April.

Hubei had previously only allowed infections to be confirmed by RNA tests, which can take days to process. RNA, or ribonucleic acid, carries genetic information allowing for identification of organisms like viruses.

But it has begun using quicker computerised tomography (CT) scans, which reveal lung infections, the Hubei health commission said, to confirm virus cases and isolate them faster.

As a result, another new 14,840 cases were reported in the central province on Thursday, from 2,015 new cases nationwide a day earlier. But excluding cases confirmed using the new methods, the number of new cases rose by only 1,508.

About 60,000 people have now been confirmed to have the virus, the vast majority of them in China.

The new diagnostic procedure could explain the spike in deaths, said Raina McIntyre, head of biosecurity research at the Kirby Institute at the University of New South Wales.

“Presumably, there are deaths which occurred in people who did not have a lab diagnosis but did have a CT,” she told Reuters. “It is important that these also be counted.”

The new testing is only being used in Hubei, officials said.

TENTATIVE SLOWING?

Under the new system, suspected cases were being confirmed, and if the number of deaths did not rise as fast, that would mean the disease was less deadly than thought, said Dr Eyal Leshem of the Tel Aviv University School of Medicine.

“The real mortality rate of the disease may be lower,” Leshem said.

Consultancy Capital Economics said the surge did not necessarily point to an acceleration in the spread of the virus but rather that official figures had been understating its prevalence.

“For now, the latest figures don’t appear to undermine the recent tentative signs that the spread of the virus may be slowing,” it said.

Frank Benzimara, head of Asia Equity Strategy, at Society Generale in Hong Kong, said the new figures had not sparked panic in financial markets: “It can be seen as an exercise of transparency.”

The outbreak, which is believed to have emerged late last year from a market in Wuhan where wildlife was traded illegally, is one of the biggest tests facing the Chinese government in years and blame has fallen on provincial leaders.

State media said provincial Communist Party boss Jiang Chaoliang had been sacked as secretary of the Hubei Provincial Committee, and Ma Guoqiang had been removed as party chief in the provincial capital Wuhan.