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And I think China has recognized it and has started working toward this direction.

And "if markets like this persist for many days or weeks, things could change," said Peter Crane, President & Publisher of Crane Data - Money Fund Intelligence.

Anbang Insurance Group has walked away from a deal to acquire United States annuities and life insurer Fidelity & Guaranty Life for .6 billion after failing to get the necessary regulatory approvals, Reuters reported.

Analysts said the medical outreach initiative will further strengthen China's ties with Southeast Asia－home to some of its closest neighbors.

Analysts at Jefferies Financial Group, a New York investment bank, said the coronavirus appears to be spreading in Arizona, Texas and Utah. As a result those states are experiencing an economic slowdown after earlier signs of a rebound.