- China offers $325 bn in fiscal stimulus for ailing economy
- 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, European markets rise as banking crisis fears ease
Most Asian markets traded higher on Tuesday after global shares rebounded, with fears of a banking crisis easing thanks to the sale of fallen lender Silicon Valley Bank.
News that North Carolina-based First Citizens Bank had agreed to take over most of SVB boosted European stocks and Wall Street on Monday.
The gains were led by banking shares, following a rout last week over concerns that the turmoil in the sector could hit other major institutions, such as German giant Deutsche Bank.
Hong Kong rose more than 1.0 percent in Tuesday afternoon trade, though Shanghai was down. Tokyo closed higher, while Sydney, Singapore and Seoul also gained.
European equities climbed at the open, with London, Frankfurt and Paris all in positive territory.
Ray Attrill, head of FX strategy at National Australia Bank, said Tuesday that the acquisition by First Citizens had "helped set a positive tone" in global markets.
"Together with the absence of new scare stories over the weekend, banking shares have driven a rally across most major equity indices," he wrote in a note.
On Monday, the World Bank warned that an anticipated economic slowdown in China is likely to drag global growth down to its lowest level this century as it proposed measures to prevent a "lost decade" of growth.
"We've grown used to China being the tractor of the global economy, and that will have to change because China's growth rate is going to go down over time," World Bank Chief Economist Indermit Gill said.
After last week's tumult, traders were taking the opportunity to regroup, SPI Asset Management's Stephen Innes said Tuesday.
"US stocks are trading moderately higher, and bonds lower Monday as bank stresses relax a bit further," he said.
"This allows investors more breathing room to position ahead of a busy end-of-the-month data week docket and an even busier April" as first-quarter earnings approach.
And while markets have responded positively to the measures implemented by authorities to shore up the banking sector, there are still concerns about the impact of ongoing rate hikes by central banks, especially the US Federal Reserve.
Despite the recent turmoil, central banks have pushed on with monetary tightening as they focus on fighting inflation.
BlackRock Investment Institute strategists, however, see the campaign easing, according to Bloomberg News.
"We see major central banks moving away from a 'whatever it takes' approach, stopping their hikes and entering a more nuanced phase that's less about a relentless fight against inflation but still one where they can't cut rates," Bloomberg quoted the strategists as saying.
- Key figures around 0715 GMT -
Tokyo - Nikkei 225: UP 0.2 percent at 27,518.25 (close)
Hong Kong - Hang Seng Index: UP 1.2 percent at 19,800.03
Shanghai - Composite: DOWN 0.2 percent at 3,245.38 (close)
London - FTSE 100: UP 0.7 percent at 7,521.07
Euro/dollar: UP at $1.0815 from $1.0803 on Monday
Pound/dollar: UP at $1.2323 from $1.2289
Euro/pound: DOWN at 87.75 pence from 87.88 pence
Dollar/yen: DOWN at 130.91 yen from 131.56 yen
West Texas Intermediate: UP 0.1 percent at $72.91 per barrel
Brent North Sea crude: DOWN 0.1 percent at $78.06 per barrel
New York - Dow: UP 0.6 percent at 32,432.08 (close)
-- Bloomberg News contributed to this story --
D.Goldberg--CPN