SINGAPORE : Falling bank stocks drove Asian markets lower on Friday, while bonds rallied and expectations for U.S. interest rate rises were reduced after a surprise capital raising at a Silicon Valley startup lender unleashed fears of broader banking-system stress.
Japan's Nikkei pared declines to last be down around 1 per cent, compared to a 1.23 per cent loss prior to the central bank decision. The U.S. dollar edged higher and short-end Treasuries extended sharp overnight gains - driving two-year yields down another 12 basis points to 4.7837 per cent in Tokyo trading.
SVB stock was still sliding after the bell and has lost about 70 per cent of its value in 24 hours. Shares of big banks were dragged down with it, with J.P. Morgan Chase & Co losing 5.4 per cent, Citigroup down 4.1 per cent and big lenders in Asia and Australia on the slide - albeit to a lesser extent - on Friday morning.
"But it's a big move on the back of what seems to be some fairly woolly speculation...which just shows how antsy the markets are right now, and this has spilled into all the other markets."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: ChannelNewsAsia - 🏆 6. / 66 Baca lebih lajut »