{"id":57215,"date":"2023-03-13T18:27:41","date_gmt":"2023-03-13T07:27:41","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57215"},"modified":"2025-11-11T19:23:12","modified_gmt":"2025-11-11T08:23:12","slug":"monday-13th-march-2023-svb-collapse-triggers-mixed-market-reaction-in-asia","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/monday-13th-march-2023-svb-collapse-triggers-mixed-market-reaction-in-asia\/","title":{"rendered":"Monday 13th March 2023: SVB Collapse Triggers Mixed Market Reaction in Asia"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei down 1.11%, Shanghai Composite up 1.20%, Hang Seng up 1.64%, ASX down 0.50%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1877.15 (+0.53%), Silver at $20.74 (+1.12%), Brent Oil at $83.05 (+0.33%), WTI Oil at $76.94 (+0.34%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.678, UK 10-year yield at 3.659, Germany 10-year yield at 2.457<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Unemployment Rate 3.60% vs 3.40% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Non-Farm Employment Change 311K vs 224K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Average Hourly Earnings m\/m 0.20% vs 0.30% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Unemployment Rate 5.00% vs 5.10% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Employment Change 21.8K vs 8.5K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) New Loans 1810B vs 1500B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) GDP m\/m 0.30% vs 0.10% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian markets experienced mixed fortunes on Monday, following the collapse of Silicon Valley Bank (SVB) \u00e2\u20ac\u201c one of the largest regional lenders in the US. The news caused a sell-off in US equities and a surge in Treasury yields on Friday, as well as a plunge in interest rates implied by SOFR contracts. However, the US Federal Reserve responded quickly, announcing an emergency bank term funding program to assure SVB depositors that their funds will be fully protected and accessible at the start of the week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Japan\u00e2\u20ac\u2122s Nikkei 225 dropped by 1.1% on Monday, with indexes in Singapore, Malaysia, and Indonesia also posting losses. Australia\u00e2\u20ac\u2122s S&amp;P\/ASX 200 fell by around 0.5%, marking its sixth consecutive week of losses. South Korea\u00e2\u20ac\u2122s Kospi index remained flat on the day, while Chinese shares rallied on both the mainland and Hong Kong stock exchanges. Hong Kong\u00e2\u20ac\u2122s Hang Seng Index rose 1.6%, while mainland\u00e2\u20ac\u2122s CSI 300 index gained 1%. Chinese internet giants Alibaba, Baidu, and Tencent experienced impressive growth of over 3%, while video platform Bilibili surged by more than 11%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crude oil prices rose on Monday, as investors disregarded the impact of the SVB collapse on energy demand and focused instead on the prospects of a global economic recovery. Furthermore, crude oil prices were supported by a weaker US dollar and supply disruptions in Libya. In contrast, gold prices surged as investors sought safety amid rising uncertainty and volatility in financial markets. The yellow metal was boosted by a sharp drop in US Treasury yields and a lower US dollar index. The latter fell on Monday, as traders revised down their expectations for US interest rate hikes following the SVB crisis. The US dollar index was also impacted by mixed US jobs data on Friday, which showed a higher-than-expected increase in non-farm payrolls but a lower-than-expected rise in average hourly earnings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall, it appears that the fallout from the SVB collapse has had varying effects across Asian markets, with some experiencing losses and others posting gains. Investors are closely monitoring the situation, particularly in light of the Fed\u00e2\u20ac\u2122s emergency funding program, and are likely to remain cautious as events unfold.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Tuesday, March 14, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) Claimant Count Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Core CPI m\/m<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Wednesday, March 15, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (GBP) Annual Budget Release<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Core PPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Empire State Manufacturing Index<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) PPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:45 PM GMT &#8211; (NZD) GDP q\/q<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thursday, March 16, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 AM GMT &#8211; (AUD) Employment Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 AM GMT &#8211; (AUD) Unemployment Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Unemployment Claims<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:15 PM GMT &#8211; (EUR) Main Refinancing Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:15 PM GMT &#8211; (EUR) Monetary Policy Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:45 PM GMT &#8211; (EUR) ECB Press Conference<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Friday, March 17, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Prelim UoM Inflation Expectations<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.11%, Shanghai Composite [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":62731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215],"tags":[],"class_list":["post-57215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=57215"}],"version-history":[{"count":3,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57215\/revisions"}],"predecessor-version":[{"id":62752,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57215\/revisions\/62752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/62731"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=57215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}