{"id":57406,"date":"2023-03-24T19:23:04","date_gmt":"2023-03-24T08:23:04","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57406"},"modified":"2025-11-11T19:20:05","modified_gmt":"2025-11-11T08:20:05","slug":"friday-24th-march-2023-banking-woes-weigh-on-asian-stocks-bonds-see-relief-rally","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/friday-24th-march-2023-banking-woes-weigh-on-asian-stocks-bonds-see-relief-rally\/","title":{"rendered":"Friday 24th March 2023: Banking woes weigh on Asian stocks, bonds see relief rally"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">\u00c2&nbsp;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 0.13%, Shanghai Composite down 0.64%, Hang Seng down 0.74%, ASX down 0.19%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1990.15 (-0.29%), Silver at $23.23 (-0.10%), Brent Oil at $76.13 (+0.29%), WTI Oil at $70.22 (+0.37%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.406, UK 10-year yield at 3.391, Germany 10-year yield at 2.151<\/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;\">(GBP) Retail Sales m\/m 1.20% vs 0.20% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) National Core CPI y\/y 3.10% vs 3.10% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) New Home Sales 640K vs 650K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Unemployment Claims 191K vs 198K expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Official Bank Rate 4.25% vs 4.25% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) MPC Official Bank Rate Votes 7-0-2 vs 7-0-2 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CHF) SNB Policy Rate 1.50% vs 1.50% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian shares were lower on Friday as lingering banking stability concerns gripped Wall Street, while bonds bet the recent slew of rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year. MSCI\u00e2\u20ac\u2122s broadest index of Asia-Pacific shares outside Japan fell 0.6% on Friday, erasing some of the recent gains to be up 1.7% for the week. Japan\u00e2\u20ac\u2122s Nikkei also slid 0.1%. China\u00e2\u20ac\u2122s blue-chip index and Hong Kong\u00e2\u20ac\u2122s Hang Seng both lost 0.7%, with sentiment weighed by persisting geopolitical tensions between the U.S. and China.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Treasury Secretary Janet Yellen said on Thursday that she was prepared to take further action to ensure bank deposits are safe, a day after saying that blanket insurance was not on the agenda, prompting a renewed sell-off in banking stocks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Markets have bet on a recession and incoming rate cuts from major central banks, including the Federal Reserve, which raised interest rates for a fifth time this year on Wednesday. The U.S. dollar index fell to a seven-week low against a basket of currencies as investors priced in more dovish policy ahead.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In commodities, crude oil prices edged lower as demand worries outweighed supply disruptions from Libya and Kazakhstan. Gold prices rose to their highest level since November as lower bond yields and a weaker dollar boosted its appeal as an alternative asset.<\/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;\">08:15 AM GMT &#8211; (EUR) French Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:15 AM GMT &#8211; (EUR) French Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:30 AM GMT &#8211; (EUR) German Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:00 AM GMT &#8211; (EUR) Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:30 AM GMT &#8211; (GBP) Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:30 AM GMT &#8211; (GBP) Flash Services PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) 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; (CAD) 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) Core Durable Goods Orders m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (USD) Durable Goods Orders m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:45 PM GMT &#8211; (USD) Flash Manufacturing PMI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:45 PM GMT &#8211; (USD) Flash Services PMI<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp;Global Markets: Asian Stock Markets : Nikkei down 0.13%, 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-57406","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\/57406","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=57406"}],"version-history":[{"count":3,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57406\/revisions"}],"predecessor-version":[{"id":62747,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57406\/revisions\/62747"}],"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=57406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}