Coronavirus latest: China’s industrial March profits plunge 35%

Linda J. Dodson

The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan.

Global cases have reached 2,810,325, according to the World Health Organization.

The worldwide death toll has hit 193,825.

To see how the disease has spread, click this interactive virus tracker:

Here are the latest developments (Tokyo time):

Monday, April 27

1:11 p.m. Japan’s Finance Minister Taro Aso says the coronavirus pandemic has caused “an enormous impact” on domestic and overseas economies, adding that the “extremely severe situation” is expected to continue. Aso made the remark to the lower house of parliament as the government submitted a new 25.6 trillion yen supplementary budget to fund emergency measures.

12:15 p.m. The Bank of Japan further boosts its monetary stimulus at a one-day policy meeting, aiming to support government efforts to rescue the economy from the effects of the virus, and announcing that it is prepared to purchase any amount of Japanese government bonds.

11:00 a.m. March profits in China’s industrial sector plunged 34.9% from a year earlier to 370.66 billion yuan ($52.43 billion), following a 38.3% slump in January-February — the steepest decline since at least 2010. For January-March, profits fell 36.7% to 781.45 billion yuan.

10:30 a.m. China reports three new cases on Sunday, down from 11 on Saturday, with no new deaths. Of the cases, two were imported. The country also reports 25 new asymptomatic cases on the mainland, compared to 30 on Sunday.

10:16 a.m. South Korea reports 10 new cases, keeping the daily tally at 10 or less for five consecutive days and bringing the country total to 10,738 with 243 deaths.

10:15 a.m. Over a million Australians downloaded CovidSafe, an app that traces contacts of COVID-19 patients, according to Health Minister Greg Hunt. Australia has been at the forefront of countries containing the pandemic, recording just 83 deaths and 6,700 cases, due to border closures, movement restrictions and a stay-at-home policy.

9:00 a.m. The global economy must not shut down completely as governments work to contain the outbreak, Fast Retailing Chairman and CEO Tadashi Yanai tells Nikkei in a recent interview, warning that doing so will make a recovery longer and more painful.

8:30 a.m. Mexico has nearly cleared out 3,759 migrants from its 65 migrant facilities, returning most occupants to their countries of origin. Since March 21, the government had been removing migrants to contain the spread of the virus.


Britain’s Prime Minister Boris Johnson on March 26.

  © Reuters

5:10 a.m. British Prime Minister Boris Johnson returns to 10 Downing St. on Sunday evening after recovering from the coronavirus. He is “raring to go,” says Foreign Secretary Dominic Raab, who stood in for Johnson during his hospitalization and recovery.

1:48 a.m. Turkey confirms 2,357 new cases, bringing the total to 110,130, Health Ministry data shows. The country’s death toll climbs to 2,805, up 99 from a day earlier.

Sunday, April 26

8:07 p.m. South Korea’s large churches reopen, with worshippers required to maintain distance and wear masks. The government has extended its social distancing policy through May 5, but provided some relief for religious and sports venues.

5:29 p.m. The Philippine Health Ministry reports seven more fatalities due to the coronavirus, raising the nation’s death toll to 501. The ministry confirms 285 new infections, bringing the total to 7,579. A total of 862 patients have recovered.

4:34 p.m. The Chinese city of Wuhan has no coronavirus cases remaining in its hospitals, a health official tells reporters. The city had reported 46,452 cases, 56% of the national total. It saw 3,869 fatalities, or 84% of China’s total.

4:00 p.m. Singapore reports 931 new cases, up from 618 a day earlier, bringing the country total to 13,624. The vast majority of the cases are migrant workers living in dormitories, while 15 are permanent residents.

3:11 p.m. India reports 1,990 new cases, up from the 1,429 recorded Saturday morning, for the country’s biggest 24-hour spike. The nationwide total has risen to 26,496, with 824 deaths, the Ministry of Health and Family Welfare says.

1:53 p.m. Thailand reports 15 new coronavirus cases but no new deaths. The country has confirmed 2,922 infections and 51 deaths since its outbreak began in January.

10:05 a.m. The pandemic has brought fresh attention to the use of 3D printers in Japan, as users seek a low-cost and small-scale route to create much-needed supplies of face masks, face shields and even ventilators.

9:43 a.m. The global death toll from the new coronavirus tops 200,000 on Saturday, doubling in about two weeks despite international efforts to slow the spread of COVID-19 as research into vaccines accelerates. Nearly 90% of the deaths reported come from the United States and Europe, including Italy, Spain and France, as the number of infections surpasses 2.86 million worldwide, according to a tally compiled by Johns Hopkins University from government figures.

7:14 a.m. British Prime Minister Boris Johnson will return to work Monday, a Downing Street spokeswoman confirms, after he recovered from a coronavirus infection that sent him into intensive care for three nights in early April.

1:50 a.m. Japanese Prime Minister Shinzo Abe plans to overhaul rules that require signatures using traditional seals — cited as a major obstacle in increasing teleworking and receiving financial aid — as the government races to meet its target of reducing human contact by 80% to fight the coronavirus, Nikkei has learned.

Saturday, April 25

5:45 p.m. Indonesia reports 396 new coronavirus cases, taking its total to 8,607, data provided by a Health Ministry official shows. Thirty-one more people die after testing positive for the virus, raising the country’s total to 720.

5:00 p.m. The Philippine Health Ministry reports 17 new coronavirus deaths and 102 additional infections. Total infections have risen to 7,294, while deaths have climbed to 494.

3:32 p.m. The Philippine central bank projects that the country’s economy will decelerate this year before posting a U-shaped recovery in 2021. The bank expects the economy to shrink by 0.2% in 2020 before growth rebounds to about 7.7% as policy support measures gain traction.

3.25 p.m. India confirms 1,429 new coronavirus cases, down from the 1,684 reported Friday morning. This brings the nationwide total to 24,506 with 775 deaths, the Ministry of Health and Family Welfare says.

2:50 p.m. Thailand reports 53 new cases of the virus and one death, bringing the total to 2,907 infections and 51 deaths. Overall, 2,547 patients in the country have recovered.

To catch up on earlier developments, see last week’s latest updates.

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