Asian stocks closed lower as Credit Suisse renewed concerns about the banking sector

Credit Suisse shares plunge after the recent collapse of two US banks

Asian stocks closed lower on Thursday the 16th after shares fell in the Credit Suisse fueling fears about a possible crisis in the financial sector after the recent collapse of two banks In the USA.

Drive losses into AsiaHong Kong’s Hang Seng fell 1.72% to 19,203.91 points, while Japan’s Nikkei fell 0.80% in Tokyo, to 27,010.61 points, South Korea’s Kospi posted a marginal low by 0.08% in Seoul, to 2,377.91 points, and the Taiex fell 1.08% in Taiwan, to 15,221.12 points.

In mainland China, the Shanghai Composite fell 1.12% to 3,226.89 points, and the less comprehensive Shenzhen Composite fell 1.53% to 2,049.48 points.

Credit Suisse shares fell more than 30% in Zurich on Wednesday, renewing record lows, after its main shareholder, the Saudi National Bank (SNB), said it would not grant new financial aid to the Swiss bank. The statement lowered European and New York stock markets, especially banking stocks, although Wall Street recovered somewhat in late trading.

Risk aversion prevailed in Asia, even as Credit Suisse said it would accept loans offered by the Swiss central bank late Wednesday evening.

The new wave of distrust in the financial sector came just days after the collapse of two US regional banks, the Silicon Valley Bank and the Bank signature.

In Oceania, the Australian stock also went in the red today, down 1.46% compared to the Sydney S&P/ASX 200, at 6,965.50 points. / WITH INFORMATION FROM DOW JONES NEWSWIRES

Source: Terra

Rose

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