DAX Tumbles As Banks Drag On Contagion Fears
(RTTNews) - German stocks plunged on Friday, as banks suffered heavy losses on concerns over the collapse of pro-crypto Silvergate bank coupled with the hawkish stance taken by the U.S. Federal Reserve.
Investors waited for the release of monthly U.S. jobs report later in the day that could reinforce expectations of a bigger rate hike later this month.
The benchmark DAX was down 263 points, or 1.7 percent, at 15,370 after ending flat with a positive bias the previous day.
Commerzbank shares plummeted 5 percent and Deutsche Bank lost about 8 percent after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
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Losing Streak May Continue For Malaysia Shares
The Malaysia stock market has finished lower in consecutive trading days, slumping almost 25 points or 1.7 percent along the way. The Kuala Lumpur Composite Index now sits just beneath the 1,570-point plateau and it's likely to open under pressure again on Wednesday.
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5h 5minuter sedan
Japan Shares Tipped To Open In The Red On Wednesday
The Japanese stock market turned lower again on Tuesday, one session after snapping the two-day slide in which it had stumbled almost 600 points or 1.7 percent. The Nikkei 225 now rests just beneath the 38,240-point plateau and it may take further damage on Wednesday.
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5h 20minuter sedan
KOSPI May Give Up Support At 2,600 Points
The South Korea stock market has moved lower in two straight sessions, sinking almost 25 points or 0.9 percent along the way. The KOSPI now sits just above the 2,630-point plateau and it's expected to open in the red again on Wednesday.
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5h 35minuter sedan
TSX Ends Modestly Higher As Strong Results Lift Sentiment
The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors.
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5h 51minuter sedan
Australia Construction Work Data Due On Wednesday
Australia will on Wednesday see Q4 numbers for construction work done, highlighting a busy day for Asia-Pacific economic activity. Construction work is expected to rise 1.0 percent on quarter, easing from 1.6 percent in the three months prior.
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6h 5minuter sedan
Dollar Drifts Lower On Growth Concerns
The U.S. dollar shed ground on Tuesday on data showing a deterioration in U.S. consumer confidence, and concerns about the potential impact of tariffs on global economic growth.
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6h 52minuter sedan
Canadian Market Modestly Higher; BoM, Innergex Renewable Shine
The Canadian market is up in positive territory in late afternoon trade on Tuesday, having staged a smart recovery from an early setback. Technology, energy and materials stocks are weak, while real estate, consumer staples and healthcare stocks are finding good support.
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8h 38minuter sedan
U.S. Dollar Weakens Amid Falling Yields
The U.S. dollar declined against its major counterparts in the New York session on Tuesday, as treasury yields fell and recent economic data suggested a slowdown in growth.
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8h 48minuter sedan
