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Chinese technology stocks led gains in Asia-Pacific on Wednesday as Hong Kong listed shares of alibaba jumped, a day after the company announced a major revamp to split the tech giant into six entities. The Hang Seng Tech index gained nearly 3% in the afternoon, its highest in more than a month — as shares … Read more
Asia, especially China, is an area of certainty amid global uncertainty, according to an annual economic outlook report released Tuesday at the high-profile Boao Forum in Hainan province. Vcg | Visual China Group | Getty Images HAINAN — Asia, especially China, is an area of certainty amid global uncertainty, according to an annual economic outlook … Read more
“What’s unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy,” Minneapolis Fed President Neel Kashkari said in an interview with CBS ‘ Face the Nation. John Lamparski | Getty Images Entertainment | … Read more
Aerial view of shipping containers sitting stacked at Yangshan Deepwater Port, the world’s largest automated container terminal, on May 21, 2021 in Shanghai, China. Vcg | Visual China Group | Getty Images The recent turmoil surrounding the banking sector in the US and Europe has highlighted China as a “relative safe haven” this year, economists … Read more
The collapse of Silicon Valley Bank was a “Lehman moment” for the technology industry, according to a top Goldman Sachs dealmaker. Cliff Marriott, co-head of technology, media and telecoms in Europe for the investment banking division of Goldman Sachs, said that the March 10 shutdown of SVB was “pretty stressful,” as the lender’s clientele scrambled … Read more
A sign for the financial agency Fitch Ratings on a building at the Canary Wharf business and shopping district in London, UK, on Thursday, March 1, 2012. Bloomberg | Bloomberg | Getty Images Asia-Pacific banks are “resilient to risks” highlighted by failures seen in US banking sector, Fitch Ratings said Thursday, adding the exposure to … Read more
A Credit Suisse Group AG bank branch in Bern, Switzerland, on Thursday, March 16, 2023. Stefan Wermuth | Bloomberg | Getty Images Credit Suisse Shares soared more than 30% at Thursday’s market open after the bank said it would borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The Swiss-listed … Read more
Nikolas Kokovlis | Nurphoto | Getty Images Shares of Credit Suisse surged Thursday, rebounding from a fresh all-time low after the beleaguered lender announced it would tap central bank support to shore up its finances. Switzerland’s second-largest bank said it would borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank, … Read more