South Korea confirms 69 new coronavirus cases

The Korea Center for Disease Control and Prevention (KCDC) said on Monday, South Korea confirmed 69 new coronavirus cases, bringing up the total count to 7,382 as on March, 8th.

The rate of increase dropped to its lowest in 10 days on Sunday.

Market reaction

Despite the slowdown in the pace of increase in South Korea’s number of new infections, the risk-off sentiment remains at full swing in Asia, as the rate of increase of the outbreak quickens in Europe, especially in Italy and France.

USD/JPY extends the sell-off to test the 103.00 level, the lowest since November 2016, down nearly 2% on the day.