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20/03/2023

Today’s Announcements & News

Asia

Asia-Pacific markets were set to fall on Monday after UBS agreed over the weekend to buy its banking rival Credit Suisse for $3.2 billion.

Asian markets are also expected to release a number of economic data later today, such as: B. Chinese lending rates and Korean export data.

In Japan, the Chicago Nikkei futures contract was at 26,945 and the Osaka futures contract was at 26,700, while the Nikkei 225 opened significantly lower

It last settled at 27,333.49.

In Australia, the S&P/ASX 200

Down 0.76%, shares of all major banks edged lower.

United States

U.S. stock futures rose on Sunday as the Swiss government planned to force UBS to take over Credit Suisse, the latest attempt by governments around the world to calm a crisis threatening the banking sector.

Dow Jones Industrial Average Futures

It rose 118 points or 0.3%. S&P 500 Index Futures

and Nasdaq 100 futures

increased by 0.3%.

Investors were still nervous as trading began this week as regional banks remained under pressure to shore up their deposit base following the collapse of Silicon Valley Bank earlier this month. Wall Street believes more may be needed to restore confidence in the banking system after U.S. regulators bailed out SVB’s uninsured deposits a week ago and provided fresh funds to the troubled bank.

Commodities

Gold prices rose on Friday, posting their biggest weekly gain in four months as a string of banking crises rattled markets, while firming up bets that the Federal Reserve would be less aggressive in its fight against inflation.

Spot gold rose 3.1% to $1,977.89 an ounce, its highest level since April 2022. The precious metal gained about 5.8 percent for the week. U.S. gold futures rose 2.6 percent to $1,973.50.


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.

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