Singapore Easing worries about the banking sector boosted risk appetite among Asian investors on Wednesday. After weeks of volatility following the collapse of two US banks and the bailout of Credit Suisse, markets were calmed this week by the sale of assets from insolvent lender Silicon Valley Bank.
The US Senate Banking Committee is currently interviewing senior officials from the US banking regulator, the US Federal Reserve, the FDIC and the Treasury Department about the bankruptcy of SVB and Signature Bank. After the turbulence, the authorities were accused of overly lax supervision of the regional banks. “Investors are still fearful… and hints of a major regulatory overhaul are likely to weigh on the sector until details emerge,” said Robert Carnell, Asia Pacific regional head of research at ING.
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