Via CNBC

This is a live blog. Please check back for updates.
All times below are in Eastern Time.

8:50 a.m. Biotech firm Novacyt’s shares jump on coronavirus test update

Novacyt said on Monday that it has launched a “CE-Mark” molecular test to help detect COVID-19, the new coronavirus that is afflicting China. 

Novacyt CEO Graham Mullis says the test can produce a result in less than two hours. Novacyt shares jumped more than 30% in late session trading in Paris. —Reuters

7:50 a.m. WTO warns that COVID-19 could further weaken expected growth of global trade in goods

Growth of global trade in goods is likely to remain weak in early 2020, the World Trade Organization said on Monday, adding that the below-trend performance could be reduced even further by the new coronavirus.

The WTO said that, based on a decline of its trade outlook indicator, year-on-year merchandise trade growth may fall again in the first quarter of 2020. —Reuters

6:50 a.m.: China’s drinkers get happy hour margaritas delivered to their door as coronavirus lockdown continues

Bars in major Chinese cities are delivering their happy hour drinks deals to customers’ places of residence as a large number of people remain stuck indoors because of the outbreak of the new coronavirus.

But with people staying at home in China and some cities putting a ban on dining out in groups, to try to contain the spread of the virus, bars are taking drinks to where their customers are.

In the southern Chinese city of Guangzhou, a major trading and economic hub, a number of bars have started delivering their discounted drinks. Bandidos, a Mexican eatery, is packing its 25 yuan ($3.58) Margaritas into jars and sending them with a straw to customers. Their happy hour is from Monday to Friday between 4 p.m. to 7 p.m local time. Customers can contact one of the representatives for the bar on messaging app WeChat to order their drinks. — Arjun Kharpal.

5:30 a.m.: Russia confirms citizen aboard Diamond Princess cruise ship has coronavirus

Russia has confirmed a citizen who had been aboard the Diamond Princess cruise liner docked in Japan’s port of Yokohama has tested positive for the coronavirus.

READ ALSO  SE: Mid-sized Businesses Need Something Closer to Equity Than to Credit, Says Tarullo

The woman will be taken to hospital to undergo a course of treatment in the near future, the Russian embassy to Japan said in a post on Facebook on Monday.

She is thought to be the first Russian national to contract COVID-19, after the two previous cases of the virus found in the country were both Chinese citizens.

5:15 a.m.: Hong Kong’s Cathay Pacific Airways warns of hit to results in first half of the year

Cathay Pacific Airways has warned its financial results in the first half of the year will be “significantly” lower than last year.

The Hong Kong-based airline said Monday that it had slashed overall passenger capacity by 40% in February and March, citing the coronavirus outbreak. It also said a reduction in passenger capacity was likely in April.

“The first half of 2020 was already expected to be extremely challenging financially,” Cathay Pacific Group Chief Customer and Commercial Officer Ronald Lam said in a statement.

“As a result of this additional significant drop in demand for flights and consequential capacity reduction caused by the novel coronavirus outbreak, the financial results for the first half of 2020 will be significantly down on the same period last year.”

3:10 am: US confirms 14 cases of coronavirus from passengers on board Diamond Princess cruise ship

The U.S. facilitated the voluntary repatriation of over 300 U.S. citizens and their immediate family members who had been passengers on the Diamond Princess cruise ship, the State Department said in a statement on Monday.

During the evacuation process and once the passengers had disembarked the ship, which is currently quarantined in Japan’s port of Yokohama, U.S. officials said they received notice that 14 passengers had tested positive for coronavirus.

READ ALSO  "Tsunami" Of Evictions Could Make 28 Million Americans Homeless This Summer Alone

After consultation with U.S. Department of Health and Human Services, the State Department made the decision to allow these 14 individuals, “who were in isolation, separated from other passengers and continued to be asymptomatic, to remain on the aircraft to complete the evacuation process.”

The flights, which departed Japan at approximately 4:30 p.m. Eastern time on Sunday, landed in the U.S. Monday morning. All passengers will now remain under quarantine for 14 days.

“Passengers that develop symptoms in flight and those with positive test results will remain isolated on the flights and will be transported to an appropriate location for continued isolation and care,” the statement said.

Read CNBC’s coverage from CNBC’s Asia-Pacific team overnight here: US confirms 14 new cases, repatriates cruise ship passengers