Share prices in asia have reversed early losses after japans central bank promised to support markets in the wake of the coronavirus outbreak. The virus is continuing to spread across the world, with the total number of cases now close to 90,000 and the Economic Impact is growing. Factory activity in china fell at a record rate in february, as manufacturers closed their operations to contain the virus. Chinas official measure of Manufacturing Activity the purchasing managers index, dropped to 35. 7 from 50 injanuary thats their worst on record. China makes up more than a quarter of World Manufacturing and is the Worlds Largest exporter, so this drop will have a knock on effect on well known brands including apple, diageo and volkswagen. And thats got markets spooked. Last friday, the three main us indexes ended the week down 10 their worst week since the Global Financial crisis. The uks ftse 100 index meanwhile dropped 13 over the week, wiping a combined £210 billion, or 269 billion, off the value of some of the worlds biggest companies. And heres how the asian markets have been performing today. We have seen some relief, as i mentioned but it is not across the board. Lets now go to the Asia Business hub to get the latest. And sharon is a cross it for all of us, give us more detail how this is able to boost sentiment, the comments from japan . Boost sentiment, the comments from japan . Absolutely sally and you summed it all up. What and you summed it all up. What a difference a week and makes we saw the asian market starting off reflecting a massive sell off last week in the us and europe which are illustrated as well but by mid morning it all started to change here, the hong kong index and Chinese Markets were all flat to hire and the nikkei reversing some of the steeper declines and despite the awful news that you mentioned of the factory output in china, which isa factory output in china, which is a key gauge of activity, falling at its masters pace on record in february, essentially showing that chinese economy is really suffering. This is the world s second largest of course and it is dealing a severe blow to factories across asia, including japan, south korea, taiwan, really showing evidence yet of the damaging effects of the epidemic on the Global Business and yet markets are rebounding. Why, you may ask . Because there are hopes that Central Banks around the world may come to the rescue and stabilise the global sell off and this is after the bank ofjapan sell off and this is after the bank of japan moved sell off and this is after the bank ofjapan moved to take effo rts bank ofjapan moved to take efforts to try and stabilise the market and we saw the central bank making a rare statement, something it often does not do, think they would strive to provide ample liquidity and ensure stability in Financial Markets and that of course after the massive sell off that you were just telling us about. The Federal Reserve on friday said something similar. They hinted ata something similar. They hinted at a fresh Interest Rate cuts at a fresh Interest Rate cuts at the ranks next meeting but of course all of this is still up of course all of this is still up in the air. We are seeing markets reversing that analysts are still warning of further turmoil on trading floors as governments struggle to contain the coronavirus, which is now killed more than 3000 and infected am almost 19,000. 0k, thank you. Joining me now is markus kuger, chief economist at dun bradstreet. You are listening to that in watching markets and watching Economic Data closely, what do you think . There are obviously two transmission channels and how it can impact, and the company has analysed that and 5 Million Companies around the globe sourced directly from china and currently trying to include data from south korea, which saw some falls last weekend as well is italy so thatis weekend as well is italy so that is a severe risk for the economy but that is the macroeconomic component, china accou nts macroeconomic component, china accounts for 20 of gdp and the could be severe knock on effects for those economies. When you say severe, do you think we could see a global recession, how severe are we talking about . Certainly some economies more exposed than others. We have to remember that the crisis comes at a time when global gdp growth has already been week injapan, italy, gdp fell in the last quarter and that has nothing to do with coronavirus so without more monetary stimulus or fiscal stimulus, there is a set at fiscal stimulus, there is a set at risk that some countries authentic recession. Italy announced on sunday that 3. 6 billion euros in stimulus for those companies in the areas affected in northern italy. We are hearing from japans central bank that the fed is implying it is ready to help. How some of these countries going to afford to pay for this . Big question, italys government deficit has really been very high and the proposed measures are very small in size, so questionable whether that will be enough help those economies in the north of the country. From a monetary point of view, we also have to keep in mind that Interest Rates are really rock bottom and have been rock bottom so this transmission channel is questionable. I went about the fear factor, everyone is talking about it everywhere in the world. For this impact decisions on holidaying and what they may do, some people are stockpiling all sorts of things are going on depending on where you are and how exposed you. What impact could that have . 0n Economic Activity . Sentiment is a key driver and weve seen the pmi from china and waiting on data from china and waiting on data from north america but if sentiment is hit by the crisis andi sentiment is hit by the crisis and i expect this hit, then private consumption could fall and that would impact on the economy. Thank you for your time, we appreciate it, and lots more detail and advice on the website. Take a look. China is indias second largest trading partner and, with billions of dollars worth of trade every year, india has become heavily dependent on its asian partner. However, as weve been hearing, the coronavirus outbreak is beginning to cause major disruption to supply chains and nowhere more so than in india as the bbcs devina gupta has been finding out. For the past two years, this Television Factory in a Western State has applied new generation televisions to Global Brands across india. They make 80,000 led tv sets every month. The glass panel and electronic chips used for it are not available in india, so they are heavily dependent on china to import them. But with the coronavirus outbreak, factories there are shot. That has put 23 year old who manages the plant in a tough spot. Already, 60 70 components we are using we are highly dependent on china so the glass has already been increased so for the next quarter, they are definitely short in supply and at least 15 will stop for retailers. China exports over 50 billion worth of goods to india and while most of it is ready made product, there are crucial, Raw Materials used by farming and Auto Industries that will be a source of worry. While big traders do have some inventory to tie over, the next two to three months is a small trade as Small Traders are struggling to meet the orders. For now, many businesses are having to look for suppliers outside of china. Taiwan, south korea and japan have some electronic chip dealers who can help us but coronavirus is spreading there also so it is better to get supply from there as soon as better to get supply from there as soon as possible. But not eve ryo ne as soon as possible. But not everyone can afford it and some, like this factory have cut production by half as they run out of key chemical ingredients imported from china. We are paying twice for the raw material but because of the raw material but because of the price on medicines we cannot raise the cost for the consumers that we have cut production and in the coming time it will hurt the labour force as well. Job losses in these Small Enterprises will further hurt the internet economy, facing a slowdown. China is getting its factories back to work but for customers like this, the shortage of materials will take weeks to clear. Now lets brief you on some other business stories a hundred british negotiators are travelling to brussels to begin talks about a new trade deal with the eu. The first phase of discussions, due to last four days, will be led by the Prime Ministers europe advisor, david frost. Theyll also cover areas such as co operation on security and transport. Elsewhere, the uks Prime MinisterBoris Johnson has promised to drive a hard bargain as he set out the uks negotiating position for a post brexit free trade deal with the us. Talks on a deal are expected to begin later this month with healthcare and food standards set to be among the key issues discussed. Thats it for the Business Briefing this hour. We will stay with more of those stories such as coronavirus in a moment. The south wales valleys could see as much as 50 more rainfall in the next ten years, with weather experts warning that the devastation caused by storm dennis is a taste of things to come. Wyre davies reports. The floods that tore through these communities have left devastation in their wake and residence driven from homes. A man in his 90s rescued by stretcher on his birthday. A young woman almost drowned in her bed by rising water levels. People are shellshocked. Im surprised that everybody survived. The water came in so quick and people were surprised to quickly, people could have drowned. Lives and livelihoods we re drowned. Lives and livelihoods were completely overwhelmed as the river taff burst its banks and rising waters at this car showroom meant that hundreds of vehicles were written off. Businesses like this Furniture Store were cleaned out. This will cost thousands to replace and unlike some big stores, they are not covered. The council is giving flooded businesses £1000 each to get them back on their feet and the Welsh Government has promised £10 million towards emergency help but it is nowhere near enough. Lives have been turned upside down in communities like this. The human cost is clear but it could cost hundreds of millions of pounds to clear up and repair the damage to homes, businesses and communities. But there were warnings that this was not going to be a 1 off and this is the shape of things to come. As a cleanup continues, the Welsh Government says addressing the issues around Climate Change is a priority. The warning signs are there. More rainfall and flooding is inevitable. How will we deal with it when the next deluge comes . Coming up at six oclock on breakfast, dan walker and Louise Minchin will have all the days news, business and sport. This is the briefing from bbc news. The latest headlines scientists in the United States say the covid 19 virus may have been spreading undetected in Washington State for six weeks, infecting hundreds of people. One man is now confirmed to have died from the virus in the us. Pete buttigieg the first openly gay us president ial candidate has ended his bid for the white house. His decision to drop out comes just ahead of whats known as super tuesday, when 1a states hold primaries. Several thousand migrants are demanding to be allowed to cross into greece, after turkey announced it would no longer stop people trying to enter the european union. Greece has called an extraordinary meeting of eu foreign ministers. Your people use now its time to look at the stories that are making the headlines in the media across the world. We begin with the times looking ahead to the emergency coronavirus meeting being held by the government here in london later. It quotes borisjohnson saying theyll stop at nothing to stem the spread of the virus and reports that a lockdown on whole cities hasnt been ruled out. The Financial Times looks at italy and how its injecting 3. 6 billion dollars into its economy to mitigate the fallout from it becoming europes hotbed for the virus. Die welt now and like all the german media, its main story is the thousands of migrants gathering on Turkey Greece border after turkeys president said hed open the gates to the eu. Pete buttigieg bowing out is a big story for Business Insider it quotes the democrat whod hoped to become his partys pick to take on donald trump saying hed made history. And finally, the i looks at wellbeing in the workplace, say more and more companies are offering wellness packages. So within thejob ad, offering wellness packages. So within the job ad, it is becoming more of a discussion point. With me is 0liver cornock whos editor in chief, 0xford business group. Lets get stuck in. Most of the front pages in the uk and i imagine elsewhere in the world have coronavirus front end