Asian stock markets closed mostly higher on Monday (13), after US regulators mobilized over the weekend to contain the impacts of the bankruptcy of the American bank Silicon Valley Bank (SVB).
Leading the gains in Asia, the Hang Seng index advanced 1.95% in Hong Kong, to 19,695.97 points, while the South Korean Kospi rose 0.67% in Seoul, to 2,410.60 points, and the Taiex recorded modest up 0.22% in Taiwan, at 15,560.49 points.
In mainland China, the Shanghai Composite gained 1.20%, at 3,268.70 points, and the less comprehensive Shenzhen Composite secured a moderate advance of 0.44%, at 2,096.42 points.
Dozens of Chinese companies, especially in the healthcare sector, have released statements in recent days to clarify that their exposure to SVB is irrelevant.
On Sunday night, the Federal Reserve (Fed, the US central bank) and other American regulators guaranteed that clients of the bankrupt SVB will have full access to their deposits. Furthermore, the Fed announced an emergency program to prevent the SVB crash, the biggest in the US since 2008, from turning into a systemic crisis.
In Europe, HSBC announced this Monday that it will buy SVB UK, the British arm of the American bank, for the symbolic value of one pound.
In the assessment of market participants, the risk of contagion in Asia appears to be limited, especially after regulators in the US ensured protection for SVB depositors.
In Tokyo, however, the Japanese Nikkei index fell 1.11%, to 27,832.96 points, with investors evaluating possible effects of the SVB.
In Oceania, the Australian stock market was also in the red, down 0.50% from the S&P/ASX 200 in Sydney, at 7,108.80 points.
Source: CNN Brasil
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