MELBOURNE, AUSTRALIA – APRIL 6: Melbourne skyline at the 2022 Australian Formula 1 Grand Prix on 6th April 2022.
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Asia-Pacific markets fell on Wednesday after banking fears were reignited on Wall Street.
Shares of First Republic Bank tumbled more than 49% after the regional bank posted its latest quarterly results, saying late Monday that deposits dropped 40% to $104.5 billion in the first quarter but have since stabilized.
Investors will also be closely watching Australia’s March inflation numbers, expected to come in at 6.5% compared to February’s figure of 6.8%. The S&P/ASX 200 opened lower, down at 0.48%.
In Japan, the Nikkei 225 fell 0.71%, and the Topix dropped 0.9%.
South Korea’s Kospi was 0.13% lower, while the Kosdaq was 0.67% down, after the country’s consumer sentiment index for April rose to 95.1, compared to 92 in March.
Hong Kong’s Hang Seng index looks set to extend its losses from Tuesday, with futures tied to the index standing at 19,391 compared to its last close of 19.617.88.
