Japan’s Nikkei index closed at its lowest level in two months on Monday, as fears of a recession and a possible crisis in the global banking sector led to the sale of risky assets despite a deal reached over the weekend to save the Swiss Bank Credit Suisse.<\/p>\n\n\n\n
The Nikkei closed down 1.42% at 26945.67, the lowest close since January 23, and the broader Topix index lost 1.54% to 1929.30.<\/p>\n\n\n\n
In light of the crisis that began with the collapse of Silicon Valley Bank in the US on Friday, investors lost confidence in US regional banks and Credit Suisse in Europe.<\/p>\n\n\n\n
UBS Group said over the weekend that it would buy Credit Suisse for 3 billion francs ($3.2 billion) and incur losses of up to $5.4 billion, in a merger deal designed by Swiss authorities.<\/p>\n\n\n\n
Japan’s banking sector lost 1.88 percent, after jumping more than 1 percent earlier in the session.<\/p>\n\n\n\n
The index has lost 13.6 percent so far this month, the worst performer, along with the insurance sector, which also recorded a similar decline.<\/p>\n\n\n\n
Mitsubishi UFJ Financial Group lost 1.84 percent, Sumitomo Mitsui Financial Group lost 1.67 percent, and Mizuho Financial Group lost 2.3 percent.<\/p>\n\n\n\n
Oil refineries pared its previous gains to close down 0.17 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japan’s Nikkei index closed at its lowest level in two months on Monday, as fears of a recession and a possible crisis in the global banking sector led to the sale of risky assets despite a deal reached over the weekend to save the Swiss Bank Credit Suisse. The Nikkei closed down 1.42% at 26945.67, …<\/p>\n","protected":false},"author":9,"featured_media":70953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7211,6877,6928,6882],"class_list":["post-81712","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=81712"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81712\/revisions"}],"predecessor-version":[{"id":81716,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/81712\/revisions\/81716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70953"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=81712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=81712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=81712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}