New York (HedgeCo.Net) - Morgan Stanley has decided to postpone and move it’s hedge fund showcase from Shanghai to New York because of the rise in cases of Avian Influenza (bird flu) in China, Bloomberg reports.
Some investors and managers refused to make the trip due to fears over recent deaths in the area, “It’s understandable but an over-reaction nonetheless,” said the head of Shanghai-based company Z-Ben Advisors Ltd, “If you look at the number of cases, number of deaths, it was coming down and it was nowhere near as bad as SARS.”
The BBC reports that drug resistance has been detected in patients infected with the new bird flu. More than half the people who become infected with bird flu die of the disease.
In recent years, outbreaks of bird flu have occurred in Asia, Africa and parts of Europe. Health officials worry that a global outbreak could occur if a bird flu virus mutates into a form that transmits more easily from person to person. Researchers are working on vaccines to help protect people from bird flu.
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