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Asian stock markets are recovering thanks to calming concerns about banks

Asian stock markets are recovering thanks to calming concerns about banks

Singapore Easing concerns about the banking sector boosted investors’ appetite for risk in Asia on Wednesday. After weeks of volatility in the wake of the collapse of two US banks and the rescue of Credit Suisse, markets calmed this week with the sale of assets from the bankrupt Silicon Valley bank.

The US Senate Banking Committee is currently grilling senior officials from the US Banking Regulatory Authority, the US Federal Reserve, the FDIC and the Treasury Department about the bankruptcy of SVB and Signature Bank. After the unrest, the authorities were accused of over-supervising regional banks. “Investors are still scared…and hints of major regulatory reform will likely weigh on the sector until details emerge,” said Robert Carnell, ING’s regional head of research for Asia Pacific.

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