After seeing this news, I checked our booked flights from HK to SYD (QF128) in early May and saw our flight was cancelled and we've been rebooked on the next flight (QF118).
As yet, we have not received any email notification about the change.
They were reward seats (8E/8F) and I see they have given us almost the same seats on the rebooked flight (7E/7F), which is good.
However, this gets us to Sydney over 3 hours later, which means we won't make our next flight to Coffs Harbour. I'd booked these flights separately because there were no reward bookings available from HK to Coffs, only to Sydney.
I've just sent Qantas a message via the app about the issue, asking them to rebook our domestic flight as well (there are two later flights to Coffs that day). Will wait to see if they'll do that, even though it wasn't one booking. Should hope so!
We actually fly CX from Amsterdam to Hong Kong first (also a reward seat booking), with 2 nights in HK before the next leg to Australia on QF. Will have to wait and see if that CX flight doesn't change or isn't cancelled. If the corona situation gets out of hand, we may not want to fly via HK/Asia at all. I booked all this back in August last year, when there were the protests but we thought that would have been resolved by May. We can only await the developments and make decisions closer to the date, I guess.