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Banking concerns have lessened, so the Asia Pacific stock market has risen

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Stocks in Asia Pacific rallied after Credit Suisse’s rescue by the UBS – What are the fates of the financial sector?

Stocks in the Asia Pacific region rose Tuesday as concerns about the global banking sector eased in response to a whirlwind of intervention by policymakers and industry players.

The Hang Seng Index opened up 0.8%. The Chinese market started its trading session with a modest rise at the start.

On Monday, central banks across Asia Pacific moved to diffuse concerns about the finance industry, assuring the public that their money was safe, following the emergency rescue of Credit Suisse.

That did little to stop stocks from falling, though analysts had predicted that global markets could calm down later in the day. On Sunday, Credit Suisse was rescued by larger Swiss rival,UBS, then a coordinated move by major central banks to increase the flow of US dollars through financial markets.

Investors are largely pricing in a 25 basis point rate hike and will listen closely to see if Federal Reserve Chair Jerome Powell is able to justify hiking rates while reassuring panicked markets that the Fed can maintain the safety and security of the banking system.

US regional banks are not out of the woods yet. Shares of First Republic

            (FRC), the struggling California bank bailed out by a consortium of banks last week, fell to an intraday record low Monday before ending the session down about 47% in another day of steep losses for the company.

Asian stocks and stock markets traded higher on Wednesday as a response to the Fed’s next large-scale monetary policy decision in the day after FOMC

The S&P 500 gained 0.9% while the INDU finished 1.2% higher. The index went up 0.4%.

Asia Pacific shares opened higher on Wednesday, tracking US gains, as investors awaited the US Federal Reserve’s next monetary policy decision later in the day.

The MSCI Asia Pacific index, which excludes Japanese companies, was broadly higher, rising 0.8%. US futures were not much changed in Asian trade.

“Asia is trading higher today as risk appetite appears to be returning amidst receding volatility around bank stocks, at least for the time being ahead of Wednesday’s schedule statement from the FOMC,” said Stephen Innes, managing partner of SPI Asset Management, referring to the the Federal Open Market Committee — which is due announce its decision on interest rates on Wednesday afternoon.

Shares of troubled lender First Republic

            (FRC) led the way, soaring 30%, making back a large portion of the losses from its 47% plunge in the prior session. The SPDR Regional Banking ETF (KRE), which tracks a number of small and mid-sized bank stocks, gained 5.8% for the day.

After the American Bankers Association hosted an event in which the US Treasury secretary said that the federal government was willing to guarantee more deposits should the banking crisis continue, there was a boost.

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