Japanese bank tanks over 20% after flagging losses tied to U.S. commercial property
Publishing timestamp: 2024-02-01 05:03:22
Summary
Aozora Bank, a Tokyo-based commercial lender, warned of a net loss for the fiscal year ending Mar. 31 due to its exposure to U.S. office loans. The bank expects the U.S. office market to stabilize in another year or two. As a result, Aozora shares plummeted by 21.5% to their lowest level in eight months. This announcement came after U.S. regional bank New York Community Bancorp reported a surprise net loss and raised concerns about the strength of U.S. regional banks.
Sentiment: NEGATIVE
Tickers: .N225, 8304.T-JP, NYCB,
Keywords: banks, markets, united states, new york community bancorp inc, aozora bank ltd, japan, breaking news: markets, u.s. economy, business news, stock markets, nikkei 225 index, asia economy,