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Coronavirus prevention and controls are at a crucial stage, China’s President Xi Jinping told the Chinese state television on Wednesday and added that they must strictly carry out virus control and prevention measures to resolutely prevent the epidemic from spreading.

“We will strengthen the market regulation, the crackdown on price speculation of medical products,” Xi said. “We must report coronavirus outbreak information timely and accurately.”

Risk-on flows dominate

The market mood remains upbeat on Wednesday with major European equity indexes adding between 0.9% and 1.2%. Furthermore, the 10-year US Treasury bond yield is up nearly 2% to confirm the strong risk appetite.