Coronavirus Cases Surging in South Korea

Officials in South Korea said on Saturday that the number of new coronavirus cases in the country had over doubled to some 433, and suggesting that the tally could rise significantly further. They believe it may even be more because 1,000 people who attended a church very much where the centre of the outbreak reported flu-like symptoms.

As per numbers reported by Korea's Centers for Disease Control and Prevention (KCDC), the country is seeing the largest number of confirmed infections after China.

Huge Korean tech giant, Samsung Electronics on Saturday said one of the virus cases had been confirmed at its mobile device factory complex in Gumi, resulting in operations being shut down, not too far from large city Daegu.

Elsewhere, Japan confirmed 14 new cases on Saturday, which could start worrying markets over fears it could disrupt this year's Tokyo Olympics. Organizers postponed the start of training for volunteers as a precaution.

What does this mean for the markets?

Safe haven flows could very well likely be seen, stock markets to get further hit as recently observed. For full details on how to trade this all and incorporate into technical views, check out our membership.

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