Asia Markets Mostly Lower as Wall Street Banking Fears Reignite
Asian markets have followed Wall Street lower due to fears about the banking sector.
Investors are also closely monitoring Australia's inflation figures for March, which is expected to be 6.5% as opposed to the 6.8% in February. The final result was 1.58% lower. Artificial intelligence (A.I. ) HSBC has identified 4 Chinese stocks which are expected to grow in value.
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The afternoon session continues to see a decline. In its earnings announcement on Monday, the bank stated that it was considering strategic moves to help improve its balance sheet. The index only had two sectors that were trading in green, with gains of about 0.3%. Stock also reached a new intraday record low of $11.20 for the entire year. Refinitiv's analysts had estimated $2.33 in earnings per share. The company, however, reported adjusted earnings of $2.63. This was higher than their consensus estimate. On a revenue of $22,93 billion, the company earned $2.20 per adjusted share. In a press release, CEO Carol Tome stated that "Deceleration of U.S. Retail Sales resulted lower volume than anticipated and we faced continued demand weakness in Asia." Fred Imbert