(Adds oil, gold settlement prices)
* World stocks, Wall Street indexes hit new highs
* Oil prices extend rebound from 13-month lows
* Safe-haven assets slip
By Herbert Lash
NEW YORK, Feb 12 (Reuters) - Global equity markets scaled fresh highs on Wednesday after China reported the lowest number of new coronavirus cases in two weeks, boosting hopes the epidemic will be contained and driving up the price of commodities sensitive to Chinese demand.
China confirmed 2,015 new cases of the deadly virus, the lowest daily increase since Jan. 30 as the total rose to 44,653. The report eased financial market concerns about the potential impact on both the Chinese and global economies. dollar hit a more than two-year high against the euro as investors poured money into U.S. stocks, even as Dale Fisher, a global expert associated with the World Health Organization, warned that the virus' toll was just beginning outside China.
Crude oil prices surged on the slowing rate of infection, spurring hopes that demand in the world's second-largest oil consumption market may begin to recover.
Copper climbed on the belief that China, the biggest metals consumer, faces a short but sharper economic shock than first thought. How harsh the impact will be varies widely.
U.S. Treasury Secretary Steven Mnuchin said the economic impact from the coronavirus outbreak is a one-time event that will not last beyond 2020. are clearly encouraged by the moderating trajectory of new and suspected cases of the virus, as well as the continued support of Federal Reserve monetary policy, said David Joy, chief market strategist at Ameriprise Financial (NYSE:AMP).
Renewed enthusiasm among investors also is being driven by corporate earnings growth and a global economic recovery that was becoming evident before the coronavirus outbreak, he said.
However, investor enthusiasm may be tested once economic data from late January and February begins to roll in, Joy said.
"By a number of measures, valuations are quite extended, making this rally something of a leap of faith," he said. "I would not argue with anyone wishing to bank some of their profits."
Stock indexes around the world hit new highs, including the three major Wall Street gauges, MSCI's world index, the pan-European STOXX 600, Germany's DAX, the S&P/TSX in Canada and the S&P/NZX 50 in New Zealand.
MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.50% and emerging market stocks rose 0.92%.
The pan-European STOXX 600 index .STOXX rose 0.63% and the DAX .GDAXI rose 0.77%.
On Wall Street, the Dow Jones Industrial Average .DJI rose 230.94 points, or 0.79%, to 29,507.28. The S&P 500 .SPX gained 18.1 points, or 0.54%, to 3,375.85 and the Nasdaq Composite .IXIC added 68.84 points, or 0.71%, to 9,707.78.
North Sea Brent crude, the global benchmark, rose more than 3%.
Brent crude LCOc1 added $1.78 to settle at $55.79 a barrel while West Texas Intermediate, the U.S. benchmark, CLc1 rose $1.23 to settle at $51.17 a barrel.
Gold prices traded little changed after touching a one-week low as risk sentiment improved.
U.S. gold futures GCv1 settled 0.1% higher at $1,571.60 an ounce.
Overnight in Asia, mainland Chinese and Hong Kong shares rose almost 1% .CSI300 . The offshore-traded yuan reached two-week highs CNH=D3 . The Thai baht, Korean won and Taiwanese dollar, reliant on Chinese tourism and trade, gained 0.3% to 0.5% THB= KRW= TWD= .
The dollar index .DXY rose 0.32%, with the euro EUR= down 0.4% to $1.087. The Japanese yen .JPY= weakened 0.26% versus the greenback at 110.10 per dollar.
Benchmark 10-year U.S. Treasury notes US10YT=RR fell 13/32 in price to yield 1.6333%.