Asia (except ME & Indian SC)

China to lift lockdown in most of virus-hit Hubei province

BEIJING (AP) — Chinese authorities are lifting a lockdown in most of its virus-hit Hubei province.

People who are cleared will be able to leave the province after midnight Tuesday.

The city of Wuhan, where the outbreak started in late December, will remain locked down until April 8. China barred people from leaving or entering Wuhan starting Jan. 23 and expanded it to most of the province in succeeding days.

The drastic steps came as a new coronavirus began spreading to the rest of China and overseas during the Lunar New Year holiday, when many Chinese travel.

All signs point to Tokyo Olympics being postponed

Tokyo (AP) --- IOC members, national Olympic committees and athletes were all racing toward the same conclusion Monday: The Tokyo Olympics are not going to take place this summer.

Craig Reedie, a longtime member of the International Olympic Committee, told The Associated Press that everyone can see where things are headed, with the coronavirus pandemic spreading and Olympic hopefuls around the world unable to train.

Asian stocks gain after U.S. Fed promises economic support

BEIJING (AP) — Asian stock markets gained Tuesday after the U.S. Federal Reserve promised support to the struggling economy as Congress delayed action on a $2 trillion coronavirus aid package.

Market benchmarks in Tokyo and South Korea rose nearly 7% while Shanghai, Hong Kong and Australian markets also gained.

Traders were encouraged by the Fed’s promise to buy as many Treasurys and other assets as needed to keep financial markets functioning.

SIA makes significant capacity cuts and grounds aircraft

SINGAPORE, March 23 (NNN-BERNAMA) — Singapore Airlines (SIA) will be cutting 96 per cent of the capacity that had been originally scheduled up to end-April, given the further tightening of border controls around the world over the last week to stem the COVID-19 outbreak.

“This will result in the grounding of around 138 SIA and SilkAir aircraft, out of a total fleet of 147, amid the greatest challenge that the SIA Group has faced in its existence,” it said in its website.

JAPAN: Postponing Olympics for one year can entail losses of $5.8 bln

TOKYO, March 23. /TASS/: Postponing the 2020 Summer Olympics in Tokyo to next year due to the threat of the coronavirus pandemic will cause international financial losses of about $5.8 bkn, Kyodo agency reported referring to the forecast of professor of economics at Osaka University Katsuhiro Miyamoto.

According to the forecast, in this case another fundraiser would need to be held for athletes training and maintenance of sports facilities. In addition, the additional qualifying competitions will also require large financial investments.

Weeks after Thai soldier kills 29, Amnesty report describes conscript abuses

BANGKOK (Reuters) - Thai military conscripts face widespread violence and sexual assaults, Amnesty International said in a report on Monday, calling the abuse institutionalized and systematically hushed up by the hierarchy.

A culture of power abuse and impunity within the military came under the spotlight last month when a Thai soldier went on a shooting rampage killing 29 people, triggered by a dispute over a housing deal involving his superior officer.

Japan to spend over $137 billion as virus hits economy, BOJ eyes more stimulus

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s pledge of “huge” stimulus will involve spending of at least $137 billion financed in part by deficit-covering bonds, sources say, joining global efforts to cushion the economic blow from the coronavirus pandemic.

While the amount of debt issuance is likely be modest, it will put considerable market focus on Japan’s dire fiscal position - at a time the market rout caused by the outbreak is prodding investors to dump even safe-haven assets like government bonds in favor of cash.

Tokyo Olympics seem sure to happen -- but in 2021, not 2020

TOKYO (AP) — The Tokyo Olympics are going to happen — but almost surely in 2021 rather than in four months as planned.

This became clear after the IOC on Sunday announced it was considering a postponement. Major Olympic nations like Canada and Australia have added pressure by saying they will not go if the games are staged this year.

International Olympic Committee President Thomas Bach sent a letter to athletes explaining the decision and why it might take so long, while also acknowledging the extended timeline might not be popular.

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