ASIA-PAC EQUITY WRAP: Asian stock markets are lower across the board as the banking sector fallout persists

Analysis details (05:43)

Asia-Pac stock markets declined across the board amid a continuation of the selling in financials and with risk appetite severely constricted in the fallout from the recent US bank collapses. ASX 200 (-1.4%) spent most of the session beneath the 7,000 level with the index pressured by substantial losses in nearly all sectors and amid headwinds from weak data releases in which Westpac consumer sentiment remained near historic lows and NAB business surveys deteriorated. Nikkei 225 (-2.4%) slumped owing to the heavy losses in financial stocks which occupied each spot on the list of the 10 worst performers and with the Tokyo Stock Exchange banking index suffering its worst day in more than 3 years. Hang Seng (-2.2%) and Shanghai Comp. (-0.9%) also retreated albeit with less aggressive selling in the mainland on reopening news as China is to resume the issuance of all types of visas for foreigners from March 15th.

14 Mar 2023 - 05:41- Research Sheet- Source: Newsquawk