By Iain Withers and William Schomberg LONDON (Reuters) -HSBC bought the UK arm of stricken Silicon Valley Bank for a symbolic one pound on Monday, rescuing a key lender for technology start-ups in Britain and helping curb the fallout from the biggest bank collapse since the financial crash. The move comes after U.S. authorities moved …
HSBC rescues British arm of stricken Silicon Valley Bank Read More »
SINGAPORE (Reuters) – Singapore banking system has insignificant exposure to failed banks in the United States, its central bank said on Monday. Banks in Singapore are well capitalised and conduct regular stress tests against interest rate and other risks, the Monetary Authority of Singapore (MAS) said in a statement. MAS is in close touch with …
Singapore banking system’s exposure to failed US banks ‘insignificant’ – central bank Read More »
TOKYO (Reuters) – Japan Post Bank has priced its secondary share offering at 1,131 yen ($8.41) apiece in a deal worth 1.23 trillion yen ($9.14 billion), it said in a regulatory filing on Monday. Parent firm Japan Post Holdings Co plans to sell 975.4 million shares of the banking unit, with an overallotment of an …
Japan Post Bank prices its stock offering at 1,131 yen apiece Read More »
By Summer Zhen HONG KONG (Reuters) – Asset manager Matthews Asia will close its two bond funds due to sluggish client interest, leaving it with no fixed income products and only equity funds on offer firm-wide, the San Francisco-based company said. The $14 billion asset manager has decided to liquidate the $65 million Asia Total …
Matthews Asia to exit fixed income strategy on low client interest Read More »
By Joe Cash BEIJING (Reuters) -China unexpectedly kept its central bank governor and finance minister in their posts at the annual session of the rubber-stamp parliament on Sunday, prioritising continuity as economic challenges loom at home and abroad. President Xi Jinping, who has been installing allies in key roles in a government reshuffle as he …
China chooses continuity, retaining central bank chief, finance minister Read More »
HONG KONG (Reuters) – Six Hong Kong-listed companies, mostly Chinese pharmaceutical firms, disclosed cash deposits at Silicon Valley Bank on Sunday, adding that their exposure to the failed U.S. lender and its impact on operations were immaterial, in an effort to calm investors. Startup-focussed SVB Financial Group, which did business as Silicon Valley Bank, collapsed …
Six Hong Kong-listed firms say their deposits at SVB are immaterial Read More »
BEIJING (Reuters) – China will consolidate and add to its domestic strategic resources bases this year to achieve a rapid buildup in mineral resources, natural resources minister Wang Guanghua said on Sunday, according to state media. “We will launch a new round of strategic action for mineral prospecting,” Wang told reporters on the sidelines of …
China to consolidate, boost domestic strategic resources bases – state media Read More »
By Summer Zhen HONG KONG (Reuters) – China stock investors, already disillusioned by Beijing’s lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. China’s CSI300 Index dropped 4% last week, while Hong Kong’s Hang Seng tumbled 6%, as China’s moderate …
SVB collapse could add to China stock investors’ anxiety Read More »
By Kevin Yao BEIJING (Reuters) – Yi Gang’s surprise re-appointment as China’s central bank governor on Sunday means a pro-market mind of high international stature will continue to represent the world’s second-largest economy on the global stage. Yi, 65, was widely expected to retire as President Xi Jinping installs close allies in key roles in …
‘Steady hand’: China surprisingly retains central bank chief Read More »
TOKYO (Reuters) – South Korea’s Coupang is halting service in Japan this month, less than two years after it entered the market, the e-commerce firm confirmed on Friday. Coupang started operations in Japan in June 2021, gaining popularity during the pandemic with its grocery delivery services in the Tokyo area. The company alerted customers that …
Korean e-commerce firm Coupang to exit Japan market Read More »
