Global stocks fell again, worries about the health of the banking industry covered. Financial Times sources said that UBS - Switzerland's largest bank - is considering buying part or all of the second ranked bank, Credit Suisse. If the deal goes ahead, it will be the biggest merger of the European banking industry since the 2008 financial crisis/ Besides, SVB Financial filed for bankruptcy. With total assets at the end of 2022 about $212 billion, SVB Financial is the third-largest bankruptcy in US history
Domestic stocks continued to struggle, trying to hold on to the support level. Interbank interest rates fell deeply after the State Bank lowered the operating interest rate. Finished steel production in the first 2 months of the year decreased by 16.3%, along with that, steel consumption of all kinds also decreased by 23.2% over the same period in 2022.
- Domestic and international news
- UBS - Switzerland's largest bank considers acquiring Credit Suisse
- Follow the SVB event stream - Parent company filed for bankruptcy, looking for an acquisition partner
- Technical view and recommendations
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