Docked Cruise Ship Worsens Coronavirus Fears as Recession Shadows Japan and Singapore

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While authorities all over the world are bending over backward to curb the coronavirus outbreak, things might be getting worse. Apart from the rising number of confirmed cases and deaths, the spread is still raging on. Now, several authorities are currently in a fix as they try to find a few hundred people who could be infected with the coronavirus but have since deboarded a cruise ship in Cambodia.

Cruise Ship Passenger Tests Positive for Coronavirus

Recently, an American woman tested positive for the coronavirus after she arrived in Malaysia. The unnamed woman was among over 2,000 people that were on board the cruise ship. According to a Reuters report, Holland America Line, the Westerdam cruise ship carried 802 crew members and another 1,454 passengers. It, however, said none of the other occupants of the cruise ship had any symptoms.

Other Cruise Ship Passengers Could Test Positive for Coronavirus

The infected woman reportedly arrived in Malaysia on Saturday on a chartered flight. Malaysian authorities say that at least 137 of all 145 passengers on the flight have already departed the country. They did not display any symptoms.

Regardless of the possibility that the woman could have contracted the virus after deboarding the cruise ship, authorities are searching for its passengers. Before docking in Cambodia, the cruise ship was at sea for two weeks as it was rejected by other countries. The countries include Taiwan, the Philippines, Thailand, and Guam.

The search for other passengers could, however, prove very difficult. This is because many of the ship’s passengers have traveled to other countries through Thailand. More than a few others are also scattered across several hotels in Cambodia’s capital, Phnom Penh.

Impending Recession

The coronavirus has proven to be strong enough to disrupt financial markets. However, the situation in Japan might be a bit worse. The Nikkei fell by 0.7% as the economy is also slowly falling.

Japan is one of the world’s strongest economies. However, the coronavirus is slowly attacking the country’s economy, impeding its normal output pace. Also, Japan’s large tourism economy is taking a hit. Apart from travel restrictions in many places, the general fear around the world is preventing people from making any trips until further notices.

Singapore has also recently cut back its forecast for economic progress this year. The country has taken the virus into consideration and reduced its forecast.

For both countries, there are strong fears of a recession.

Financial Market Improvements

Generally, Asian markets seem to be finding their footing. The epidemic had initially beaten down shares as fear spread. However, while the virus is still raging, traders and investors seemed to be a bit calmer especially with all of China’s efforts.

There is also a market rise in other parts of the world. For example, the Euro Stoxx 50 futures climbed by 0.3% while the FTSE futures in London increased by 0.2%.

At the moment, confirmed cases are close to 72,000, with death toll nearly 1,800.

Author: Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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