Asia markets rise as Wall Street banks move to shore up banking system
Publishing timestamp: 2023-03-17 03:52:04
Summary
Asia-Pacific markets were higher after major Wall Street banks pledged deposits of $30 billion in First Republic Bank to bolster confidence in the banking system. In other news, Archer Venture Capital said its portfolio companies could face tightening of credit after the collapse of Silicon Valley Bank, and former Reserve Bank of India Governor Raghuram Rajan thinks it's still too early to tell whether the US rescue plan to stem bank contagion risks has worked. Meanwhile, South Korea said Japan has agreed to lift export restrictions on three semiconductor materials to Seoul, and the European Central Bank followed through with a 50 basis point rate hike despite ongoing volatility in the banking sector.
Sentiment: MIXED
Tickers: FRC, .SSEC, .HSI, AAPL, WFC, CSG.N-CH, META, AMZN, BIDU, 1211-HK, GS, TSLA, AUD=, @CL.1, .AXJO, JPM, .N225, GOOGL, .DXY, .KS11, @LCO.1, 9888-HK, BAC, .IXIC, JPY=, C, .SZI, NFLX, 9626-HK,
Keywords: world markets, shenzhen component index, business news, s&p/asx 200, asia economy, united states, baidu inc, australian dollar/us dollar fx spot rate, usd/jpy, hang seng index, credit suisse group ag, dxy us dollar currency index, kospi index, breaking news: asia, markets, shanghai, wti crude (mar'23), david faber, nikkei 225 index, ice brent crude (apr'23), breaking news: markets,
Source: https://www.cnbc.com/2023/03/17/asia-markets-banks-europe-us-rescue-plans.html