Asia 's Covid-19 losses could top US$300bil warns bank as markets tumble

A man wearing a protective mask walks past an electronic stock board at the Shanghai Stock Exchange in Shanghai. The Covid-19 outbreak could result in global economic losses of up to US$347bil, amid sharp declines in domestic demand and tourism, supply disruptions, and health effects. - Bloomberg

TOKYO/SHANGHAI/HONG KONG: The Covid-19 (coronavirus) outbreak could result in global economic losses of up to US$347bil, amid sharp declines in domestic demand and tourism, supply disruptions, and health effects, the Asian Development Bank (ADB) warned in a report on Friday (March 6).

The best case scenario is based on a quick containment of the outbreak, with restrictions removed two months after a point set in late January, while the worst-case projection looks at a protracted outbreak that could see precautions in place for six months.