{"id":57306,"date":"2023-03-17T20:37:19","date_gmt":"2023-03-17T09:37:19","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57306"},"modified":"2025-11-11T19:21:03","modified_gmt":"2025-11-11T08:21:03","slug":"friday-17th-march-2023asian-markets-rebound-as-global-bank-crisis-fears-ease","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/friday-17th-march-2023asian-markets-rebound-as-global-bank-crisis-fears-ease\/","title":{"rendered":"Friday 17th March 2023:Asian Markets rebound as global bank crisis fears ease"},"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 up 1.20%, Shanghai Composite up 0.73%, Hang Seng up 1.64%, ASX up 0.42%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1935.10 (+0.63%), Silver at $21.99 (+1.38%), Brent Oil at $75.28 (+0.78%), WTI Oil at $69.00 (+0.95%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.543, UK 10-year yield at 3.407, Germany 10-year yield at 2.258<\/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 Claims 192K vs 205K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Philly Fed Manufacturing Index -23.2 vs -14.7 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) Main Refinancing Rate 3.50% vs 3.50% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stock markets rose on Friday, following gains on Wall Street after major US banks unveiled a $30 billion lifeline for troubled regional lender First Republic Bank. The move eased fears of a global banking crisis that had rattled investors since last week&#8217;s collapse of Silicon Valley Bank (SVB), which triggered a wave of withdrawals and losses among other banks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The MSCI Asia Pacific index excluding Japan climbed 0.9 percent, reversing earlier losses, while Japan&#8217;s Nikkei 225 rose by 0.5 percent. China&#8217;s blue-chip index gained 0.8 percent, while Hong Kong&#8217;s Hang Seng jumped 1.2 percent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Asian bank shares also joined the gains, with Japanese banks including Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group rising by as much as 2 percent. The MSCI Asia Pacific Financials index climbed as much as 0.4 percent after earlier losses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Federal Reserve said it had lent nearly $12 billion to banks since Sunday via a new specific program intended to honor the withdrawal requests of their customers. The institution also lent $142.8 billion to the two entities created by regulators to succeed SVB and Signature Bank.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Europe, the European Central Bank (ECB) raised its main interest rate by half a point and said it was ready to intervene if necessary to preserve financial stability in the euro zone. The ECB also announced support measures for Credit Suisse, which had suffered heavy losses from its exposure to SVB and other troubled banks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In other markets, crude oil prices edged higher on Friday as supply disruptions in Libya and Iraq offset concerns about demand amid rising COVID-19 cases globally. Brent crude futures rose 0.4 percent to $75.32 a barrel, while US West Texas Intermediate (WTI) crude futures gained 0.3 percent to $72.18 a barrel.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold prices slipped on Friday as investors booked profits after a rally driven by safe-haven demand amid the banking turmoil and inflation worries. Spot gold fell 0.2 percent to $1,823.86 per ounce, while US gold futures eased 0.1 percent to $1,826 per ounce.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US dollar index, which measures the greenback against a basket of six major currencies, was little changed at 96.15 on Friday after hitting a one-year high of 96.60 on Thursday amid expectations of faster monetary policy tightening by the Fed compared with other central banks.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\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 up 1.20%, 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":[196,215,339],"tags":[],"class_list":["post-57306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57306","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=57306"}],"version-history":[{"count":1,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57306\/revisions"}],"predecessor-version":[{"id":57308,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57306\/revisions\/57308"}],"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=57306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}