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China’s Permanent Representative to the UN Zhang Jun crossed wires during early Friday morning in Asia. The UN envoy tried to placate the global reaction to Chinese epidemic while reacting to the World Health Organization’s (WHO) act of terming coronavirus as global health emergency.

Key quotes

Beijing is assessing WHO declaration that coronavirus is global emergency.

There should be no overreaction ‘which may result in spill over negative effects.’

Calls on countries to behave responsibly.

FX implications

Risk-tone remains heavy despite the official’s efforts. The S&P 500 Futures lose 0.12% to 3,290 by the press time.