Investors are steering clear of the sector out of fears that further hiccups are coming down the line as the Fed remains hawkish. Both Silicon Valley Bank and Signature Bank saw a run on deposits after customers got word that the bank had taken large losses on held-to-maturity bonds, causing a shortage in liquid funds.
"In the chaos of crisis, it is tempting to retrench into the safest assets. Following bank failures, many investors may prefer to avoid financials all together," the firm said in a March 22 note."Risks remain, but the banking sector will survive and some banks will actually benefit from current stresses."
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Asian stocks rally as bank jitters calm, Alibaba lifts moodAsian shares surged on Wednesday as easing concerns over the banking sector revived risk appetite, while Alibaba's plans to split into six units lifted Chinese tech stocks. Will everything be flipped?
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Bank relief and Alibaba plans nudge stocks higherAsian stocks rose on Thursday with fears easing on the banking front and the prospect of a break-up at Chinese conglomerate Alibaba offering an encouraging sign that Beijing's regulatory storm focused on tech companies might finally be clearing.
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Stocks creep toward quarterly gain as bank fears subsideAsia's stock markets held recent gains on Thursday, as fears of a banking crisis receded and investors weighed whether a break-up of Chinese conglomerate Alibaba signals Beijing's regulatory storm aimed at tech companies might finally be clearing.
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Tech stocks back as a safe-haven trade after sell off in bank sector, but for how long ?Volatility in bank sector stocks caused by the quick collapse of Silicon Valley Bank earlier this month has ignited a rush into technology stocks which are... Wouldn't qualify gowth centric tech stocks safe-havens. There was, however, an opportunity to shore up on them regardless of the bank exodus.
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