CNBC – UPDATED MON, MAR 20 20234:02 AM EDT
This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets largely fell on Monday after UBS agreed to buy its banking rival Credit Suisse in a $3.25 billion takeover over the weekend.
The Hang Seng index led losses in the region, falling 2.74% and dragged down by health-care stocks. The Hang Seng Tech index was 2.66% lower.
In mainland China, the Shanghai Composite was down 0.48% to end the day at 3,234.91 , while the Shenzhen Component was 0.27% higher to close at 11,247.13. This comes after China left its one-year and five-year loan prime rate unchanged at 3.65% and 4.3% respectively.
In Australia, the S&P/ASX 200 fell 1.38% to close at 6,898.5. Japan’s Nikkei 225 was down 1.42%, closing at 26,945.67 and the Topix dropped 1.54% to end at 1,929.3.
South Korea’s Kospi fell 0.69% and finished at 2,379.2, but the Kosdaq bucked the trend, closing 0.6% higher at 802.2.
On Friday, U.S. stocks fell to round off a roller coaster week as investors pulled back from positions in First Republic and other bank shares amid lingering concerns over the state of the U.S. banking sector.
The Dow Jones Industrial Average lost 1.19%, the S&P 500 slid 1.10%, and the Nasdaq Composite was down 0.74%.
— CNBC’s Alex Harring and Hakyung Kim contributed to this report
Source: https://www.cnbc.com/2023/03/20/asia-markets-ubs-credit-suisse-china-loan-prime-rates.html
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