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- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
Asian markets mixed as banking fears persist
Asian stocks were mixed Monday in a cautious start to what could be another rocky week for global markets, after a rout in banking shares renewed fears for the sector.
Chinese markets were downbeat in morning trade, but Tokyo's key Nikkei index and stocks in Sydney and Singapore were up following a slightly higher close on Wall Street.
US President Joe Biden and European officials had sought to calm investors as bank shares tumbled on Friday, triggered by concerns over troubled lender Deutsche Bank.
German Chancellor Olaf Scholz assured traders that Deutsche Bank is "very profitable" after its shares nosedived by as much as 14 percent before closing 8.5 percent lower.
The German bank returned to financial health last year following a major restructuring after years of problems.
After markets closed on Friday, Biden said banks are "in pretty good shape" following the recent financial sector turmoil.
Clifford Bennett, chief economist at ACY Securities, said Monday that it was unlikely the German government would allow Deutsche Bank to collapse or face restructuring.
But the situation shows "the continuing and growing pressure on the banking system among the major Western economies", he wrote in a note.
"No bank is immune in the current climate. The forces that lead to the crisis so far seen, of higher rates and depositor uncertainty, only continue to grow."
Hong Kong was nearly two percent lower in Monday morning trade, with Shanghai down 0.7 percent. Taipei and Seoul both lost 0.5 percent, and Jakarta was down 0.4 percent.
But Tokyo was up 0.3 percent at the break, Singapore rose one percent and Sydney gained 0.2 percent.
Markets had rallied last week after financial authorities took steps aimed at preventing contagion from the collapse of US regional lenders this month.
But sentiment soured following decisions by central banks in the United States, Britain and Switzerland to hike interest rates, despite concerns about the impact of the monetary tightening on banks.
Amir Anvarzadeh of Asymmetric Advisors said markets would "remain in a state of flux as concerns about the health of the global banking system persist".
At the same time, "the market seems to have come to the view that the latest banking turmoil will do much of the work in taming inflation and chances for easier monetary policy this year have dramatically increased", he said.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 0.31 percent at 27,471.17 (break)
Hong Kong - Hang Seng Index: DOWN 1.96 percent at 19,525.08
Shanghai - Composite: DOWN 0.74 percent at 3,241.15
Euro/dollar: UP at $1.0765 from $1.0764 on Friday
Pound/dollar: UP at $1.2238 from $1.2230
Euro/pound: DOWN at 87.95 pence from 87.96 pence
Dollar/yen: UP at 130.75 yen from 130.70 yen
West Texas Intermediate: FLAT at $69.24 per barrel
Brent North Sea crude: DOWN 0.1 percent at $74.94 per barrel
New York - Dow: UP 0.4 percent at 32,237.53 (close)
London - FTSE 100: DOWN 1.3 percent at 7,405.45 (close)
S.F.Lacroix--CPN