NEW YORK, March 30 — Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors’ rearview mirror while Chinese tech giant Alibaba’s breakup...
NEW YORK, March 30 — Stock markets advanced on Wednesday as fears of a banking crisis fade further in investors’ rearview mirror while Chinese tech giant Alibaba’s breakup plans boosted most Asian shares.
Wall Street’s main indices finished with increases of at least 1 per cent, while European markets closed with strong gains and Asia finished broadly in the green. UBS chairman Colm Kelleher said the mega-merger carries a “huge amount of risk” but Ermotti said his return was a “call of duty”. “UK banks are not exposed to material direct losses associated with the failure of SVB and takeover of Credit Suisse, and they have very limited direct exposure to regional US banks,” it added.Fawad Razaqzada, analyst at City Index and Forex.com, said “investor sentiment remained supported as the turmoil surrounding the global banking sector appears to be contained”.
The Hangzhou-based firm said the changes were intended to “unlock shareholder value and foster market competitiveness”. Razaqzada said Wednesday’s gains in the stock markets may also be due to “some bargain hunting for some downbeat stocks, which is an additional reason behind the firmer indices”.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba splits into six distinct entities, plans new IPOsHONG KONG (Bernama-UPI): Worldwide retailer and e-commerce company Alibaba announced on Tuesday (March 28) that it will be splitting its business into six distinct entities.
Read more »
Rare pink diamond worth US$35m set for auction in New YorkNEW YORK, March 29 — A rare, vividly rosy-purple diamond, called the Eternal Pink and valued at US$35 million, is set to be auctioned off by Sotheby's as part of its...
Read more »
‘Whistleblower’ grandson of S. Korean dictator detained for drug use | The Malaysian Insight‘Whistleblower’ grandson of S. Korean dictator detained for drug use
Read more »
Alibaba to split into 6 groups, separate IPOs expected | The Malaysian InsightRestructuring intended to unlock ‘shareholder value, foster market competitiveness’.
Read more »
Alibaba's Hong Kong shares set to open up 15pc on split-up plansHONG KONG, March 29 ― Hong Kong shares of Alibaba Group were set to open up 14.96 per cent today after it announced plans to split into six units and explore fundraisings or...
Read more »
Asian stocks rally as banking anxiety eases; Alibaba surgesSINGAPORE, March 29 ― Asian shares rose sharply today while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while...
Read more »