Chinese officials reported a surge in new coronavirus cases. The death toll in China rose to at least 304. More than 2,000 new cases were also recorded in China in the past 24 hours. (NY Times)
The PBOC said it will inject 1.2T yuan ($174B) into markets via reverse repo operations on Monday to ensure sufficient liquidity supply. This is the largest single-day reverse repo operation it has ever conducted.
The CSRC has issued a verbal directive to brokerages to bar clients from shorting stocks Feb. 3. CSRC is also considering launching hedging tools for the A-share market to help dampen market panic and will suspend evening sessions of futures trading starting Monday. (Reuters)
The coronavirus claimed its first fatality outside of China, a 44-year-old Chinese man in the Philippines. (WSJ)
Gilead (NASDAQ:GILD) says it has provided doses of its experimental antiviral drug remdesivir to doctors for emergency treatment of a small number of patients infected by coronavirus. It also formalized an agreement with Chinese authorities to conduct a trial of remdesivir in patients infected with the coronavirus.