3 Hours Ago Healthcare and consumer cyclicals lead Hang Seng higher The Hang Seng index led gains in the Asia-Pacific region on Wednesday, powered by health-care and consumer cyclical stocks. Shares of Geely saw the biggest moves, up 7.16% after the automaker posted a 45.6% year on year gain in revenue for the whole of … Read more
CNBC Pro: RBC names 5 global financial stocks to buy right now as banks sell off The recent share price falls in European financial institutions have presented a buying opportunity, according to RBC Capital Markets. The investment bank named five stocks to buy during the share price dip, noting that these financial institutions are not … Read more
Shares of Indonesia’s GoTo sunk 2.78% in early hours of trading on Tuesday, after the firm reported a wider net loss in 2022. While fourth-quarter 2022’s adjusted EBITDA loss improved, the company still lags behind peers such as Grab and Sea Limited, said DBS analyst Sachin Mittal. GoTo management previously promised cost costs, including two … Read more
Regulators in Asia issued reassuring statements Monday that their banking systems remained robust and stable after Swiss banking giant UBS agreed to buy its rival Credit Suisse. Swiss regulators played a key role in orchestrating the forced takeover, to stem a larger banking crisis that would threaten the global system. From Hong Kong to Australia … Read more
56 Mins Ago China leaves 1-year and 5-year loan prime rates unchanged The People’s Bank of China left the loan prime rates for 1-year and 5-year unchanged, after cutting the reserve requirement ratio for almost all banks by 0.25 percentage points last week. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, … Read more
Tech stocks lead Hong Kong index climb; Baidu surges over 10% The Hang Seng index led gains in the Asia-Pacific region on Friday, driven in part by the surge in tech stocks. Baidu was up almost 12% after its U.S.-listed shares surged overnight, following the launch of its Chinese-language ChatGPT alternative – named Ernie bot. Shares … Read more
18 Mins Ago Saudi National Bank says panic over Credit Suisse is unwarranted The chairman of Credit Suisse’s largest shareholder, Saudi National Bank, told CNBC’s Hadley Gamble that the recent market turmoil in the banking sector is “isolated” and stems from “a little bit of panic.” “If you look at how the entire banking sector has … Read more
While SVB served tech startups and venture capital firms mostly located in the U.S. or have a presence in the U.S. Some VCs based in Southeast Asia — such as Jungle Ventures and Golden Gate Ventures — were also clients of SVB. Many VC firms in Southeast Asia could face challenges in finding another bank … Read more