We have a pandemic and global panic. Everywhere I turn its fear and anxiety. The world hasn't come to an end and while I will refrain from being naive, I really would like a platform where we can share positive news, potentially positive ones, or try to spin things around to look at a better POV.
Carbon Emissions post BushfireOnly several weeks ago Australia is recovering from an extremely bad bush fire season. Government was under fire for not doing enough about carbon emissions and help address climate change. While the COVID-19 pandemic may have horrifying effect on the economy and social issues, with the suspension of so much global travel, carbon emissions could drop substantially this year.
Hubei sees single-digit cases for the first time since the beginningWhether or not there will be a second wave, ground zero of COVID-19 has some success in containment.
https://www.channelnewsasia.com/news/asia/coronavirus-china-hubei-wuhan-new-covid-19-cases-12529312 Even if there were no longer chance of global containment, Hubei's sustained drop in new cases demonstrates that the flattening of the curve is certainly possible when city goes under lockdown.
https://www.nytimes.com/2020/03/11/science/coronavirus-curve-mitigation-infection.htmlOnce again, the quicker China goes back into business, even at half level, the better it is for PET.
Suspension of travel from Europe to USAASX fell over 7% mostly post Trump's speech on TV regarding the suspension of travel from Europe to USA. I feel that the market is so sensitive now, unless a magician says he found a disease curing magic wand in his back pocket, most news is bad news to ASX. However, Trump's speech indicates that the disease is now being taken seriously in the USA and will hopefully also provoke the slow acting Europe to take drastic measure to contain COVID-19. There have been much criticism about both USA and Europe not taking serious action earlier, causing the silent spread of the diseases. Better now than never.
PET is no discretionary spendingWell, let's hope the medium term consequence of COVID-19 is that public health and safety will become China Government's no. 1 priority for a few years to come. That prioritisation won't hurt PET for sure.
That's all from me today. Please share if you have anything positive to add. Thank you
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