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But now US-based Uber, Google-backed Go-Jek and Singapore's Grab are locked in a race for ride-hailing app supremacy in Southeast Asia's biggest economy, denting the fortunes of traditional three-wheeled bajaj taxis that once ruled Indonesia's roads.

But signals have shown that Chinese policymakers are cautious about giving the final go-ahead, due to the proliferation of asset management products that included around 29.54 trillion yuan (.68 trillion) of bank-issued wealth management products by 2017. In addition, any indiscreet move without strengthening financial institutions' liquidity and capital buffers could inadvertently raise stability risks, said experts.

But Rice noted that Asia would likely be most affected, as there will be a reduction in the number of Chinese people traveling abroad along with a slowdown in imports and domestic economic activity.

But leftist President Andres Manuel Lopez Obrador said on Sunday that the pandemic was "losing intensity" in Mexico.

But she stressed that although the ordinance carries the title "emergency", Hong Kong is not in a state of emergency. "We are not proclaiming that Hong Kong is entering a state of emergency," Lam said.