DIRS.INFO The most relevant business & tech news

☆ Asia Pacific stocks rise as banking concerns ease, recession fears continue ahead of Fed meeting
▼ + stars: | 2023-03-20 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Stocks in the Asia Pacific region rose Tuesday as concerns about the global banking sector eased in response to a whirlwind of intervention by policymakers and industry players. The S&P/ASX 200 in Australia jumped 1.3%, boosted by its AXFJ index, a measure of banking stocks, which surged 1.7%. In Hong Kong, the Hang Seng Index (HSI) opened up 0.8%. US stock futures were flat in Asian trade Tuesday, with Dow futures, S&P 500 futures and Nasdaq futures little changed. Still, recession fears continue to dog investors ahead of the US Federal Reserve’s meeting, which is set to conclude Wednesday.

☆ Asia Pacific markets dip after UBS rescue of Credit Suisse
▼ + stars: | 2023-03-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Asia Pacific markets edged slightly lower on Monday morning as investors reacted to news of a Credit Suisse bailout by its bigger rival UBS. In Hong Kong, the Hang Seng Index (HSI) tumbled 1.5% at its opening. On Sunday, Switzerland’s biggest bank, UBS (UBS), agreed to buy Credit Suisse (CS) in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month. “Volatility in Australian financial markets has picked up,” he told a conference Monday. Dow futures and S&P futures each rose 0.6%, while Nasdaq futures ticked up 0.4%.

☆ Asian markets rebound after First Republic Bank gets rescued by US lenders
▼ + stars: | 2023-03-17 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Asian markets rebounded Friday after First Republic Bank was rescued by a group of major US lenders, which eased worries about the current banking turmoil. First Republic Bank (FRC) is set to receive a $30 billion lifeline from a group of America’s largest banks, including JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (CBEAX), Citigroup (C) and Truist (TFC). “Following the recent global financial instabilities, First Republic Bank was expected to be the next domino to fall,” said Yeap Jun Rong, a market analyst at IG. Worries deepened on Wednesday after shares of Credit Suisse plummeted in Europe. Regulators on both sides of the Atlantic have taken emergency measures to shore up confidence, including protecting deposits at Silicon Valley Bank and Signature Bank and giving a $54 billion lifeline to Credit Suisse.

☆ Asian bank stocks sink as Credit Suisse fear roils markets
▼ + stars: | 2023-03-15 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Banking stocks in Asia fell on Thursday, dragging the broader markets lower, as troubles at Credit Suisse sparked fears that banking turmoil is spreading around the world. The lender said it would borrow up to 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank. In Hong Kong, Standard Chartered (SCBFF) sank nearly 4%. Local bank BOC Hong Kong was down 3.1%. The bank failures had already forced US regulators to take emergency measures on Sunday to protect deposits at both lenders: Silicon Valley Bank and Signature Bank.

☆ Asian markets tumble as SVB fears rattle banking sector
▼ + stars: | 2023-03-14 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Investors are now on edge over whether the demise of SVB could spark a broader banking sector meltdown. On Monday, US stocks were mixed, with banking shares taking a hit. In Hong Kong, shares in Bank of China (Hong Kong) and Hang Seng Bank fell 3.7% and 1.3% respectively. Sumitomo Mitsui Financial Group and Mizuho Financial Group both dropped more than 7%. In Seoul, KB Financial Group and Shinhan Financial Group fell 3.6% and 2.5% respectively.

☆ US futures and Asia Pacific stocks react to SVB recovery efforts
▼ + stars: | 2023-03-13 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

On Sunday, the Biden administration promised that customers of the failed Silicon Valley Bank (SVB) and Signature Bank would have access to all their money starting Monday. In a joint statement, US Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell and Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg said the FDIC will make SVB and Signature Bank’s customers whole. In a related action, the government shut down Signature Bank, a regional bank that was teetering on the brink of collapse in recent days. “Cross-asset traders of all stripes are heaving a sigh of relief as bank runs have a tendency to catch on globally,” he told CNN. Bank shares in Asia were under pressure Monday, following a heavy rout for their US and European counterparts late last week.

Europe’s benchmark Stoxx Europe 600 index fell 1.5% in early trading, while London’s bank-heavy FTSE 100 (UKX) index slid 1.8%. Meanwhile, Japan’s Nikkei ended Friday down 1.7% as the country’s central bank decided to keep its ultra-low interest rates unchanged. Futures on the benchmark S&P 500 (DVS) index fell 0.43%, while futures on the tech-heavy Nasdaq Composite (COMP) dropped 0.2%. Wall Street wipeoutThe losses come after US bank stocks logged the largest falls in nearly three years on Thursday. The KBW Bank Index, which tracks 24 leading US banks, fell 7.7%, its biggest drop in almost three years.

☆ Global markets fall after protests erupt in China over Covid lockdowns
▼ + stars: | 2022-11-27 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN Business —Global markets fell on Monday after widespread protests in China against the country’s stringent Covid-19 restrictions roiled investor sentiment. The markets tumble comes after protests erupted across China in an unprecedented show of defiance against the country’s stringent and increasingly costly zero-Covid policy. US stock futures — an indication of how markets are likely to open — fell, with Dow futures down 0.3%, or 108 points. Oil prices dropped sharply, with investors concerned that surging Covid cases and protests in China may sap demand from one of the world’s largest oil consumers. US crude futures fell 2.7% to trade at $74.22 a barrel.

☆ Chinese stocks tumble to multi-year lows in New York and Hong Kong amid party congress
▼ + stars: | 2022-10-20 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN Business —Chinese stocks have hit multi-year lows in New York and Hong Kong amid growing concerns about China’s rising Covid cases and economic outlook. In Hong Kong, the benchmark Hang Seng (HSI) Index tumbled as much as 3% in Thursday’s morning trade. The fall comes just a day after the city’s leader, Chief Executive John Lee, promised to invest billions of dollars to bring global talent and businesses back to Hong Kong. The heavy decline followed a sharp sell-off in Chinese stocks listed on Wall Street overnight. “China’s National Party Congress failed to drive a positive catalyst, ” said Yeap Jun Rong, a market strategist for IG Group, on Thursday.

☆ Major Asian markets drop after rocky day on Wall Street amid inflation, interest rate fears
▼ + stars: | 2022-09-28 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —Asian stocks fell Wednesday after another turbulent day for US markets, as investors continue to sell off amid fears of global inflation, further interest rate hikes and broader economic turmoil. Japan’s benchmark Nikkei (N225) index slid 2.2% as of lunchtime local time Wednesday, while South Korea’s Kospi (KOSPI) dropped 2.8%. Hong Kong’s Hang Seng Index (HSI) shed 2.2%, as China’s benchmark Shanghai Composite (SHCOMP) index slipped 0.9%. The dips come after another volatile day on Wall Street, with the Dow (INDU) and S&P 500 (INX) reaching their lowest levels since November 2020. That put the Dow (INDU) deeper into a bear market, as it fell more than 125 points, or 0.4%.

Search resuls for: "Korea’s Kospi"

10 mentions found