The coronavirus disease is set to peak in China only in April, according to Zhong Nanshan, quoted by the Chinese outlet Global Times.

Previous estimates stood in February and the decelerating number of new cases also suggested a quicker timetable to contain the respiratory illness. The number of infections has surpassed 70,000 with the death toll topping 1,700 in China.

Japan has reported over 500 cases, mostly due to the spreading of Covid-19 – as the World Health Organization named it – on the Princess Diamond cruise ship.

The news is adverse to global stocks. US markets are closed today for Presidents' Day. Prices of safe-haven assets such as the Japanese yen and gold prices may benefit from growing concerns. XAU/USD is trading at $1,581 at the time of writing.