Art Basel is to cancel its Hong Kong fair because of the coronavirus outbreak, it said Friday, scrapping one of the international art market's largest and most prestigious events. In a statement, Art Basel blamed the "severe outbreak and spread of the new coronavirus" for its decision in cancelling the fair, which is a major draw for regional art buyers, especially among China's super-wealthy. Art Basel said it remained committed to Hong Kong and planned to host its next edition there in March 2021. Hong Kong is currently in recession thanks to the triple-whammy of the US-China trade war, seething pro-democracy protests and the emergence of a new virus. Alongside the Philippines, Hong Kong is the only place outside mainland China to have reported the death of an infected patient.

Source: The Star February 07, 2020 01:41 UTC