Asian shares rose Monday, tracking Wall Street’s rally after Fed Chair Jerome Powell hinted at possible rate cuts amid labor market risks. Gains were led by Hong Kong, Shanghai, and Taiwan, with chipmakers boosting sentiment ahead of Nvidia’s earnings report
The rupee slipped 11 paise to 87.36 against the US dollar amid rising dollar demand. Positive FII inflows and lower crude prices limited losses as traders awaited US Fed Chair Jerome Powell’s remarks at the Jackson Hole Symposium.
One of the significant banks for the crypto industry, Signature Bank had $88.59 billion in deposits as of December 31, 2022 and the New York Department of Financial Services has taken possession of the bank
The central bank pledged to continue its asset purchase program at least at the current pace of $120 billion per month until the economic recovery makes "substantial further progress".
