Via CNBC

This is a live blog. Please check back for updates.

All times below are in Beijing time.

3:03 pm: Nintendo apologizes, says coronavirus outbreak may affect some game consoles

Japanese gamemaker Nintendo apologized on Thursday and said it expects an inevitable delay in production and shipment of some of its products. Those include the Nintendo Switch hybrid gaming console and the Joy-Con controllers that are manufactured in China for the Japanese market.

Nintendo said in its earnings report last month that by the end of 2019, it sold more than 52 million units of the Switch console since it was first released three years ago.

2:09 pm: Taiwan bans international cruise ships from calling at its ports

Taiwan’s health ministry said Thursday it will prohibit all international cruise ships from its ports. Earlier in the day, Japan said a Taiwanese person onboard the quarantined Diamond Princess cruise in Yokohama was one of ten new people diagnosed with the virus.

Taiwan said there are currently 11 confirmed cases on the island.

1:40 pm: China may delay its annual meeting of parliament due to the coronavirus

China is considering delaying the annual meeting of the National People’s Congress, made up of around 3,000 delegates, in March, Reuters reported, citing sources familiar with the matter. The meeting that is scheduled for Mar. 5 is used to pass laws and unveil China’s economic targets for the year.

12:55 pm: Japan Airlines, ANA to reduce international flights to China

Japan Airlines said it would suspend some flights to Beijing and Shanghai routes starting Thursday until Feb. 16, 2020. From Feb. 17, more flights will be suspended until Mar. 28 (Mar. 29 for certain flights). Meanwhile, flight frequency on routes from Tokyo to Guangzhou and Dalian would be reduced.

The carrier said it had seen a decrease in travel demand as more countries are implementing travel restrictions on people who have visited China during specific periods.

Competitor ANA also said it will temporarily decrease or suspend operations to and from selected cities starting Feb. 10, including Beijing and Shanghai. Flights to and from Tokyo’s Narita International Airport to Wuhan, the Chinese city where the virus was first detected, were suspended on Jan. 23. ANA’s reductions and suspensions are slated to continue until Mar. 28.

11:54 am: Oil prices jump more than 1% during Asian hours

U.S. crude prices were up around 2.01% to $51.77 a barrel while global benchmark Brent rose 1.54% to $56.13. Overnight, energy was the top-performing sector on the S&P 500.

READ ALSO  Schumpeter - Who owns the web’s data? | Business

Oil prices have struggled in recent weeks, with U.S. crude down more than 16% for the year and Brent also lower by almost 16%. The worry from market participants is that the coronavirus outbreak could significantly curb demand for oil, especially from China. Some experts said that could lead to OPEC and its allies cutting production to bolster prices.

A technical committee comprising OPEC members and its partners extended a two-day meeting this week into Thursday to find a consensus on whether the oil producers need to make emergency production cuts. OPEC and its allies, which include Russia, are currently holding back 1.8 million barrels a day, with Saudi Arabia reducing its output the most.

10:35 am: Japan reveals more information about infected people on cruise ship

Japan’s health ministry disclosed in a press briefing more details about the ten additional people it said tested positive for the virus on board a cruise ship. According to NBC News, Japan said the newly infected people came from:

  • Japan: 4 (one woman in her 60s, two women in their 70s, one man in his 70s)
  • U.S.: 2 (one woman in her 60s, another woman in her 70s)
  • Canada: 2 (one woman in her 60s, a man in his 70s)
  • New Zealand: 1 (a man in his 50s)
  • Taiwan: 1 (a woman in her 70s)

The ministry declined to comment on their conditions and said that they would like to wait for the diagnosis from the medical facilities.

10:21 am: Australia PM: Economic impact is going to be ‘very significant’

Australia’s Prime Minister Scott Morrison told Sydney’s 2GB radio on Thursday that he expects the economic impact from the new coronavirus to be “very significant,” owing to the country’s increased exposure to China, in terms of the number of Chinese visitors and students it receives.

China is Australia’s largest trading partner.

“We can’t pretend there’s no impact to a global virus like this, and we can’t pretend that we can make it like the day it was before the virus struck,” Morrison said, pointing out in previous instances of viral outbreaks, tourism in Australia dented in one quarter before bouncing back in the next.

As of Thursday morning, Australia’s health ministry said there have been 14 confirmed cases in the country.

9:45 am: Beijing city bans group meals

The city of Beijing said on Wednesday that caterers and individuals are not allowed to organize group gatherings, and that previous arrangement should be canceled or postponed. Rural collectives are also prohibited from organizing banquets, whether for festivals, birthdays or school promotions.

READ ALSO  Summer Riots In Minneapolis Have Resulted In "A Lot Of Silent Trump Support"

As of Sunday night, Beijing had more than 200 confirmed cases of the new coronavirus, with more than half due to group gatherings, according to state media. Hotels and catering services contributed 11.11 billion yuan ($1.6 billion) to Beijing’s GDP in the first quarter of 2019, or 20% of the total for the year, according to official data accessed through Wind Information. — Cheng

9:32 am: Qualcomm sees ‘significant uncertainty’ around the impact of coronavirus on supply chain

Chipmaker Qualcomm said the virus outbreak, which put most of China under an extended shutdown, could potentially affect the mobile phone industry.

“There is significant uncertainty around the impact from the coronavirus on handset demand and supply chain,” CFO Akash Palkhiwala told investors on the company’s latest earnings call. Qualcomm stock dropped about 4% in extended trading after it beat analysts’ estimates on the top and bottom lines, reporting first-quarter earnings of 99 cents a share on revenue of $5.06 billion.

8:51 am: Millions of chickens in China could be wiped out

Hundreds of millions of chickens in China are at risk of being wiped out as the shutdowns have hit supply chains. Transport restrictions are preventing much-needed animal feed such as soybean meal from getting delivered to poultry farms, according to analysts and Chinese state media.

There are over 300 million chickens in the virus epicenter of Hubei alone putting farmers in a dire situation, a local poultry association said. — Tan

8:12 am: 10 more coronavirus cases aboard quarantined cruise ship in Japan

7:33 am: China reports 563 total deaths, and 28,018 confirmed cases

China’s National Health Commission said that as of Wednesday night, a total of 28,018 cases have been confirmed and 563 people have died in the country. There were 3,694 new confirmed cases.

There were 73 additional deaths, with most of them in Hubei province.

7:04 am: Hubei reports an additional 70 deaths

China’s Hubei province reported an additional 70 deaths and 2,987 new confirmed cases related to the fast-spreading coronavirus as of the end of Wednesday.

The Hubei Provincial Health Committee said that 549 people have died in the region and a total of 19,665 cases have been confirmed thus far. The province, where the pneumonia-like virus was first detected, has accounted for most of the deaths related to the new coronavirus.

READ ALSO  Rep. Gosar Calls To Defund NPR As Backlash Grows Over Biden Laptop Coverup

The view of the Wuhan Keting in Wuhan, central China’s Hubei Province. Wuhan in central China’s Hubei Province started converting three existing venues, including a gymnasium and an exhibition center, into hospitals to receive patients infected with the novel coronavirus (2019-nCoV), the headquarters for the epidemic control said late Monday.

Getty Images

All times below are in Eastern time.

5:10 pm: Yum China temporarily closes 30% of China stores, could see losses

Yum China Holdings, which operates Pizza Hut and KFC in China, has temporarily closed more than 30% of its stores there. Same-store sales for the locations that stayed open plunged by up to 50% since the Chinese New Year holiday, the company said, adding that it can’t say when its locations may reopen or whether it will need to close more. “Looking into 2020, the coronavirus outbreak is a major public health situation in China,” CEO Joey Wat said in a statement, adding that the safety of employees and customers was a priority. The outbreak will have a “material impact” on its 2020 sales and profit — possibly even see a quarterly or annual loss, depending on the course of the outbreak, the company said. — Rogers

4:07 pm: New York City tests 5 people for potential coronavirus

The New York City Department of Health said it now has five “patients under investigation” for the virus and is awaiting test results on four of them from the CDC. “This means they had recently been in China and presented with fever and cough or shortness of breath without another common cause, like influenza and other respiratory viruses, identified through testing,” the agency said in a statement. The two new potential patients are both under 40. One has been hospitalized and the other is under isolation with daily monitoring by the health department. The specimen from the first suspected case sent to the CDC was negative, the department previously said.

Read CNBC’s coverage from the U.S. overnight: US can’t keep virus ‘out of our border,’ NYC has 2 new ‘patients under investigation’

— CNBC’s Christine Wang, Evelyn Cheng, Weizhen Tan, Kate Rogers, Berkeley Lovelace Jr. and William Feuer contributed to this report.