Stock markets fall in Asia after a new message from the US Treasury Secretary – E24

Fresh tones from Treasury Secretary Janet Yellen are not enough to reassure investors, sending stocks in the Asia-Pacific region lower.

This is what it looks like on the most important stock exchanges in Asia-Pacific at 06.10 Norwegian time:

• The Nikkei 225 index in Tokyo decreased by 0.30 percent
• Hong Kong’s Hang Seng fell 0.42%.
• The Shanghai Composite Index fell 0.58 percent
• Kospi in Seoul decreased by 0.71 percent
• The FTSE Straits Times Index in Singapore rose slightly by 0.02%.
• The Sydney ASX 200 Index fell 0.21 per cent

Tools we can use again

On Wednesday, the US Treasury Secretary gave the following message: The US insurance fund FDIC is not considering providing a guarantee for all deposits in US banks (the so-called “universal insurance”) after the banking drama that has been raging recently.

In a written statement Thursday, the whistle took on a different sound.

– We have used important tools to act quickly to prevent infection. And there are tools we can use again, Janet Yellen writes in the note, noting that she stepped in and got the deposits after the collapse of the Silicon Valley bank.

Strong measures ensure that Americans’ deposits are safe. She adds that we would certainly be ready to take further action if justified CNBC.

Neither that nor the fact that the head of the Hong Kong Monetary Authority, Eddie Yu, has come out and said the banking crisis in the US and Europe “has very little effect on Hong Kong” has improved the appetite for stocks in the region.

On Wall Street the day before, stocks pointed higher, with the Nasdaq Technology Index rising 1.01 percent.

The shares of the block are located on the Sydney Stock Exchange

Shares of Tek Block fell nearly 15 percent on Wall Street Thursday, after short seller Hindenburg filed a report on the company claiming, among other things, that Block allows criminal activity.

Jack Dorsey’s Block is also listed on the stock exchange in Sydney, where the stock is following the same trend and is down close to 18 per cent at 06:00 NST.

In response to the report, Block said it would cooperate with authorities and “explore legal action against Hindenburg Research for the inaccurate and misleading report they shared about our Cash App business.” CNBC.

Core inflation is moderate

New figures from Japanese authorities on Friday showing core inflation moderated as expected came to 3.1 percent in February, compared to the same month last year.

This is down from January, when the core inflation rate was 4.2 percent.