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Hong Kong stocks gain 2% as China markets buck trend; investors weigh Silicon Valley Bank concerns - TL;DR CNBC

Hong Kong stocks gain 2% as China markets buck trend; investors weigh Silicon Valley Bank concerns

Publishing timestamp: 2023-03-13 00:16:13


Summary

Asia-Pacific markets traded mixed as U.S. regulators announced plans to backstop depositors and financial institutions associated with Silicon Valley Bank. Hong Kong's Hang Seng index rose, led by technology stocks, while Japan's Topix fell. U.S. markets closed lower on Friday due to the collapse of Silicon Valley Bank. The collapse has raised concerns over other banks that could be seeing similar risks. Veteran bank analyst Dick Bove said American banks have lost credibility with average investors due to what he described as "accounting tricks." Meanwhile, crypto climbed with stocks as U.S. regulators unveiled a plan to assure depositors at Silicon Valley Bank would get their money after the bank's collapse.


Sentiment: MIXED

Tickers: .SSEC.AXJOSBNY.KS11ETH.CM=.DXY9984.T-JP.SZIJPY=AUD=.HSI@CL.1.N225@LCO.1BTC.CM=

Keywords: breaking news: asiaunited statesice brent crude (apr'23)shanghaisoftbank group corphang seng indexsignature bankkospi indexshenzhen component indexdxy us dollar currency indexs&p/asx 200marketsasia economysouth koreanikkei 225 indexbreaking news: marketsaustraliaaustralian dollar/us dollar fx spot ratebusiness newsusd/jpyworld marketswti crude (mar'23)new york

Source: https://www.cnbc.com/2023/03/13/asia-markets-silicon-valley-bank-crypto.html


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