China's Xi: Will speed up application of effective medicines for coronavirus

"Coronavirus control tasks in Hubei and Wuhan remain arduous," China's President Xi Jinping said on Tuesday, Reuters reported, citing Xinhua news agency. "We will handle all kinds of issues might occur during coronavirus control, safeguard overall social stability."

"We will speed up the application of effective medicines for coronavirus," Xi added. "Coronavirus outbreak is expected to hit the economy in Hubei in the short-term but the long-term improving momentum will not be affected."

Market sentiment

The market sentiment continues to recover in an impressive manner on Tuesday. As of writing, the 10-year US Treasury bond yield was up 28.2% on the day at 0.728% and major European equity indexes were adding between 3.5% and 4%.