As the death toll in the 2019-nCoV Coronavirus rose to 365 and global confirmed infections soared to 17,205, key economic indicators in China were heading in the other direction.

Many were expected gloom in the first trading session since the Lunar New Year break.  Investors retreated into safe-haven assets as stocks and commodities fell heavily because of fears over the spread of the virus.  The yuan began trade onshore at its weakest level this year; Iron, oil, and copper traded in Shanghai all dropped by their daily limits; the Shanghai Composite index shed 8 percent and dropped to a one-year low on Monday, wiping almost US$370 billion off the market value.

Beijing moved to ease fears with a promise to assist companies that produce vital goods so that they could resume work as soon as possible.  The Chinese central bank injected 1.2 Trillion Yuan (US$173.8 Billion) of liquidity into the markets via reverse repo operations.  

In Wuhan City where health officials believe that 2019-nCoV first crossed over from animals to people a few weeks back in December, the power of the command economy was in display as the brand new, 1,000 bed Huoshenshan Hospital opened and accepted patients - just eight days after construction began.  Another hospital with 1,600 beds will open later this week.