Feb 28, 2019

China's stock market is one of the best in the world in 2019

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Data: FactSet; Chart: Harry Stevens/Axios

After the worst performance in a decade in 2018, China's stock market has been one of the best performers in the world in 2019.

  • Its outperformance of the U.S. has largely been driven by gains this month, which has seen onshore Chinese stocks rise a full 10% more than the S&P. Of note was Monday's 6% gain after President Trump delayed a planned tariff increase on Chinese goods.

Driving the news: Today, index maker MSCI will announce its decision on increasing the number of onshore Chinese companies in its indexes. So far, just 5% of the so-called A shares are included, but investors expect to see that rise to around 15%.

Details: A shares would be added to the MSCI World and China indexes as well as the Emerging Markets index, which tracks $1.9 trillion of securities.

The bottom line: Raising the level of A shares would underscore China's progress in opening up its markets despite tensions with Washington, less than a year after MSCI admitted Chinese A shares to its index for the first time — after 3 rejections.

Go deeper: China's unclear economic outlook

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 1,088,878 — Total deaths: 58,773 — Total recoveries: 225,438Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 273,880 — Total deaths: 6,889 — Total recoveries: 9,521Map.
  3. Public health latest: The CDC is recommending Americans wear cloth masks or face coverings in public to help stop the spread of the coronavirus.
  4. 2020 latest: Wisconsin governor calls for last-minute primary election delay.
  5. Oil latest: The amount of gasoline American drivers are consuming dropped to levels not seen in more than 25 years, government data shows. President Trump is calling on the Energy Department to find more places to store oil.
  6. Tech updates: Twitter will allow ads containing references to the coronavirus under certain use cases.
  7. Business updates: America's small business bailout is off to a bad start.
  8. U.S.S. Theodore Roosevelt: Senators call for independent investigation into firing of Navy captain.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Government will cover uninsured patients' coronavirus treatment

Azar at Friday's briefing. Photo: Win McNamee/Getty Images

The federal government will cover the costs of coronavirus treatment for the uninsured, Health and Human Services Secretary Alex Azar said at a White House briefing Friday.

How it works: The money will come from a $100 billion pot set aside for the health care industry in the most recent stimulus bill. Providers will be paid the same rates they get for treating Medicare patients, and as a condition of those payments, they won't be allowed to bill patients for care that isn't covered.

More states issue stay-at-home orders as coronavirus crisis escalates

Data: Axios reporting; Map: Danielle Alberti/Axios

Alabama Gov. Kay Ivey issued a stay-at-home order on Friday as the novel coronavirus pandemic persists. The order goes into effect Saturday at 5 p.m. and will remain in place through April 30. Missouri Gov. Mike Parson also issued a statewide social distancing order on Friday.

The big picture: In a matter of weeks, the number of states that issued orders nearly quadrupled, affecting almost 300 million Americans.

Go deeperArrowUpdated 52 mins ago - Health