SINGAPORE: Most Asian currencies and equities lost ground on Tuesday as the United States banking sector crisis unnerved investors, although the Malaysian ringgit bucked the trend to climb higher.
US regional bank shares saw heavy selling overnight following the shutdown of Silicon Valley Bank SIVB.O and Signature Bank SBNY.O.
“Investors will closely watch the US CPI (consumer price index) reading released tonight, though it is likely to take a back seat to the current banking crisis,” analysts at OCBC Bank said in a note.
The CPI for February is expected to rise 0.4% on a month-over-month basis, and 6% annually, according to a Reuters poll. The data…
