Today’s Announcements & News
Asia-Pacific markets fell on Thursday, but losses on the day were largely wiped out as turmoil around Credit Suisse stoked concerns about the region’s banking sector.
Credit Suisse shares fell to record lows for a second straight day on Wednesday after its main investors ruled out further support.
Hong Kong’s Hang Seng Index fell 1.89%, leading losses in the region, with the Hang Seng Technology Index falling 1.43%.
In mainland China, the Shanghai Composite Index closed down 1.12% at 3,226.89 points, while the Shenzhen Composite Index fell even more, closing 1.54% at 11,237.7 points.
In Australia, the S&P/ASX 200
It fell 1.46 percent to close at 6,965.5, dragged down by mining and banking stocks. Investors also priced in February’s 3.5% unemployment rate.
In Japan, the Topix fell 1.17% to close at 1,937.1 on Thursday after the country’s February trade data came in below expectations. Nikkei 225
It fell 0.8 percent to close at 27,010.61.
Shares rose on Thursday as Wall Street grew more optimistic after a group of banks announced they would help First Republic Bank
in an industry crisis.
Dow Jones Industrial Average
The index rose 371.98 points, or 1.17%, to close at 32,246.55. S&P 500 Index
Up 1.76% to close at 3,960.28. Nasdaq Composite Index
Soaring 2.48% to 11,717.28, investors bought technology stocks, hoping that the crisis may prompt the Federal Reserve to change its monetary policy outlook at next week’s meeting.
All three major indexes were lower in early trade, with the Dow Jones down more than 300 points from its lowest level. But optimism turned after CNBC’s David Faber reported that some banks would deposit $30 billion with First Republic. SPDR S&P Regional Bank ETF (KRE) ETF
It closed with a 3.5 percent gain, its best day since Nov. 10, helped by a 10 percent gain in First Republic shares.
Gold prices edged higher on Thursday, climbing back to a 1-1/2-month high from the previous session, on concerns about a banking crisis after the European Central Bank raised interest rates despite persistent risks to financial stability.
Spot gold rose 0.1 percent to $1,919.31 an ounce, having jumped to $1,937.28 on Wednesday, its highest since early February.
The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.