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Coronavirus count in S Korea is.........>

SOUTH KOREA
SOUTH KOREA: Coronavirus count in S Korea is becoming a real worry with cases
doubling overnight (latest count is 208 cases), and could spread into supply
chains magnifying what we've seen in China.
- The overnight 1-20 Feb trade data from SK proved weak (exports +12.4% Y/Y,
also exports to China just -3.7%) after adjusting for the no. of working days
(15.5 over that period this year, vs just 12.5 last year).
- Remember that the base includes Lunar New Year from 2019 (so skews headline),
and exports then had already started falling against the Trade War backdrop
evident at the time in Feb 19. Coronavirus worry really starting to bite & could
be magnified if spreads in South Korea. A couple of the bigger cities starting
to see measures implemented to fight it - not as hardcore as in China, but
still. Semiconductors watch out!

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