Asian shares open slightly lower, Bitcoin rallies after Switzerland's UBS seals deal to acquire Credit Suisse
was shut down by regulators on March 10, spurring jitters of a contagion that could lead to a broader economic crisis.
Japan's Nikkei 225 was 0.3% lower at last check, while Korea's Kospi edged down 0.1%. Australia's ASX200 was 0.5% lower.Bitcoin rose 2.2% over the past 24 hours and is now trading above $27,700, according to The markets could rise on relief that Switzerland moved to prevent the banking crisis from spreading over the weekend,Investors will also be keenly watching the Federal Reserve's interest rate decision for further cues, per the ING economists. The Fed is.
"Initial reaction for the financial banks in the region to the UBS' buyout of Credit Suisse seems to point to more measured gains, suggesting a still-cautious environment as sentiments remain on hold for further developments in the banking space," wrote Yeap Jun Rong, a market strategist at IG, an online trading platform.
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