Asian Insider, April 28: Coronavirus vaccine, easing lockdowns, India-China spat over test kits

Hi all,

Oxford University's push for a vaccine offers hope, Asian economies in a bind on easing lockdowns, China slams India's rejection of its test kits, Singapore & Japan economies to contract, Malaysian deputy health minister in trouble, and more.

Reading this on the web or know someone who might enjoy receiving Asian Insider? Our sign-up page is here.

Will there be a vaccine to stop coronavirus by September? Hardly anyone has the answer but the results of an experiment at a laboratory in Oxford University offers hope.

Scientists at Oxford University's Jenner Institute had a head start on a vaccine, having proved in previous trials that similar inoculations - including one last year against an earlier coronavirus - were harmless to humans.

They went on to schedule tests of their new coronavirus vaccine involving more than 6,000 people by the end of next month, hoping to show that it works. Should the vaccine prove effective, the scientists say that with emergency approval, the vaccine could be available by September.

Meanwhile, several other efforts are continuing to come up with a vaccine against coronavirus or a cure.

Economies in the Asia-Pacific remain in a bind on easing of movement restrictions imposed last month and tightened further thereafter to flatten the curve, with numbers of infectious cases not giving them ample reason to completely ease the restrictions.

Indonesians can expect to resume their normal life in July, the chief of the nation's Covid-19 task force Doni Manardo told an online briefing, after a Cabinet meeting on Monday. The nation has the highest fatalities from the outbreak in Asia after China and India.

Thai Prime Minister Prayut Chan-o-cha announced today that the state of emergency was being extended till March 31, even though there's been a decline in the number of cases in recent weeks.

Malaysia said it will allow several economic sectors which are already operating at half capacity during the movement restrictions, to ramp up their work to full capacity from tomorrow (Wednesday). These sectors include aerospace, automotive industry, certain types of construction projects among others.

While in the Philippines, President Rodrigo Duterte said he may soon ease restrictions to contain the coronavirus outbreak, a move that his spokesman said will be considered after the lockdown ends in mid-May.

Neighbouring Australia and New Zealand meanwhile began the phased exit from lockdowns with the number of infections much under control in the former and the latter declaring victory over coronavirus.

A new dispute has broken out between China and India after New Delhi said it would not accept coronavirus test kits produced by two Chinese firms because of 'poor accuracy' in results.

China slammed the decision, describing it as unfair and irresponsible as New Delhi had earlier validated the equipment produced by the two Chinese companies.

India's move to reject the kits follows its recent decision to tighten rules on foreign investments, especially from China. While the two countries have regularly tried to improve ties, deep suspicion remains within India about China's growing influence in the region.

With the coming weeks still fraught with uncertainty, growth projections for economies in the region remain pessimistic.

Singapore's economy could contract more than forecast this year, the Monetary Authority of Singapore warns in its macroeconomic review released today.

"There are significant downside risks to Singapore's growth outlook for 2020," MAS said, adding that the "materialisation of these risks could bring GDP growth below the projected -4 to -1 per cent range."

The Bank of Japan on Monday, meanwhile, ramped up emergency monetary easing and cut growth forecasts for the world's third largest economy. For the current fiscal year to March 2021, it now forecasts the economy will shrink 3.0-5.0 per cent, compared with the previous estimate of 0.8-1.1 per cent growth.

A meal with several others during a visit to a coronavirus infected area has landed Malaysia's Deputy Health Minister Noor Azmi Ghazali in trouble, after pictures of the gathering found its way to Facebook.

The gathering took place during the Minister and Perak executive council member Razman Zakaria's visit to the Lenggong Health Clinic to check on preparations to control the Covid-19 outbreak. Both have since been fined RM1,000 ($325) each for violating the country's Movement Control Order (MCO), which bars public gatherings.

WORLD'S BIGGEST FILM FESTIVALS UNITE: More than 20 film festivals around the world have joined together to stream movies free on YouTube after the pandemic shuttered movie theaters and forced the cancellation of annual shows in Cannes and New York. The 10-day "We Are One: A Global Film Festival" will feature content curated by the Berlin, Cannes, Venice, Sundance, Toronto and Tribeca film festivals, among others, starting on May 29.

WASHINGTON CALLS TAIPEI: US Health and Human Services Secretary Alex Azar called his Taiwanese counterpart Chen Shin-chung to discuss giving Taiwan a bigger role in the global fight against Covid-19, in a rare Cabinet-level contact between the two governments, that will likely annoy Beijing.

EXPAT PAYS $10k TO RENT SENTOSA COVE SWIMMING POOL: An expat in Singapore who couldn't swim in his condominium pool, because of coronavirus restrictions, opted to rent a Sentosa Cove swimming pool for $10,000 a month, according to a real estate agent who handled the lease.

That's it for today. Thanks for reading. Stay safe and we'll be back with you tomorrow.

Shefali