* As governments around the world scramble to contain the spread of the coronavirus, the situation in China appears to have “passed its worst,” according to UBS Global Wealth Management’s Kelvin Tay.
* Tay’s comments came before Chinese President Xi Jinping visited Wuhan on Tuesday — the city where the disease was first reported and the worst hit in the country. It was his first visit since the outbreak started.
* Since being first reported in China, the coronavirus has spread across the globe, infecting nearly 114,000 people globally and taking at least 4,000 lives, according to the latest data from the World Health Organization.
As governments around the world scramble to contain the spread of the coronavirus, the situation in China may have “passed its worst,” according to the regional chief investment officer of UBS Global Wealth Management’s Kelvin Tay.
There is a “semblance that production capability is actually now coming back to the Chinese economy,” Tay said, citing a decline in the number of reported infections in the country.
Read more ….
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