The Latest Breaking News on Financial Services

Shares have advanced in Tokyo and Sydney while most Asian markets were closed for May 1 holidays

First Republic is seen as the next bank likely to fail after Silicon Valley Bank, Signature Bank because of its amount of uninsured deposits and exposure to low interest rates.

The regional bank has lost 97% of its value since March.

The US Federal Deposit Insurance Corporation is reportedly preparing to place First Republic Bank under receivership, which would make it the third US bank to collapse this year.

Kasikorn Asset Management (KAsset), the largest mutual fund company by assets under management (AUM), reports a healthy start to the year with net inflows of more than 30 billion baht in the first quarter.

RECAP: Shares in Asia rallied yesterday after robust earnings from tech giants Meta, Microsoft and Alphabet buoyed Wall Street, where the S&P 500 had its best day since the first week of the year.

Unrest in the banking sector, worsened by the rising interest rate environment, has reignited market volatility and sparked a sell-off. Nevertheless, the recent market dip could provide an excellent opportunity for investors to buy fundamentally sound cheap stocks Murphy USA Inc. (MUSA) and Stride, Inc. (LRN), which could surge soon.…

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.