Japan Market closes
China +0.49%.
Hong Kong +0.85%.
Australia +0.82%. Australia’s weekly consumer confidence shows a deep pessimistic, unfavorable level.
India +0.41%.
Overnight, the major US stock indices rose as regional banks rebounded. The Dow Industrial Average climbed 382.58 points. 1.20% at 32244.59; S&P index rose 34.91 points or 0.89% at 3951.56; NASDAQ index was 45.03 points or 0.39% at 11675.55.
Investors meanwhile waited for a crucial Federal Reserve decision later in the week.
South Korea’s producer prices index for February rose 4.8% year-on-year, lower than January’s figure of 5.1%.
South Korean export data have slumped 23% y/y (first twenty days of March).
New Zealand February exports 5.23bn (5.47bn prior) & imports 5.95bn (7.42bn prior).
After falling in the earlier session, oil prices stabilised on Tuesday due to investor concerns that recent banking-sector issues would impact the global economy and limit crude demand.
Brent crude futures settled for May gained 5 cents, trading at $73.84 per barrel by 0049 GMT. U.S. West Texas Intermediate (WTI) crude futures Brent rose 9c to $67.73 per barrel. Brent and WTI dropped about $3 each before falling higher in the previous session.
On Tuesday, gold prices edged up as investors looked forward to the Federal Reserve policy policy meeting. This was because there were growing expectations that the U.S. central banking would slow down its tightening of monetary policy in response to the bank sector turmoil.
Spot gold The price of gold was at $1,982.59 a pound, up 0.2% as of 0317 GMT. U.S. gold futures rose 0.2% to $1.986.30
Spot silver The price of gold rose 0.2% to $22.57 an ounce. Platinum fell 0.2% at $986.68, while palladium dropped 0.2% at $986.68 The price of $1,412.70 dropped 0.1%
US futures are mostly higher. Dow Jones +0.03%; S&P 500 +0.07%; Nasdaq +0.03%.
More information on the bank crisis
SVB’s bid window extended amid “substantial interest’ from potential buyers
SVB Financial is no longer able to access records after FDIC tookover of the bank
New York Community Bancorp agrees to purchase Signature Bank deposits and some loans
SVB Financial’s Silicon Valley Bank fails as FDIC takes over
Three Financials on my Watchlist Following the Detonation of Silicon Valley Bank