Asian shares struggled on Monday while U.S. and European stock futures edged higher on hopes authorities were working to ring fence stress in the global banking system, even as the cost of insuring against default neared dangerous levels, APA-Economics reports citing Reuters.
Helping nerves were reports First Citizens BancShares Inc (FCNCA.O) was in advanced talks to acquire Silicon Valley Bank (SIVB.O) from the Federal Deposit Insurance Corp.
S&P 500 futures firmed 0.3% and Nasdaq futures 0.4%. EUROSTOXX 50 futures rallied 1.1% and FTSE futures 0.7%.
Japan's Nikkei (.N225) gained 0.4%, but South Korea (.KS11) lost 0.3%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) also eased 0.3%, led by a 0.9% drop in Chinese blue chips (.CSI300).
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
