By Bond Robertson 
Fresh tones from Treasury Secretary Janet Yellen are not enough to reassure investors, sending stocks in the Asia-Pacific region lower.
This is what it looks like on the most important stock exchanges in Asia-Pacific at 06.10 Norwegian time:
- The Nikkei 225 index in Tokyo decreased by 0.30 percent
- Hong Kong’s Hang Seng fell 0.42%.
- The Shanghai Composite Index fell 0.58 percent
- Kospi in Seoul decreased by 0.71 percent
- The FTSE Straits Times Index in Singapore rose slightly by 0.02%.
- The Sydney ASX 200 Index fell 0.21 per cent
Tools we can use again
On Wednesday, the US Treasury Secretary gave the following message: The US insurance fund FDIC is not considering providing a guarantee for all deposits in US banks (the so-called “universal insurance”) after the banking drama that has been raging recently.
In a written statement Thursday, the whistle took on a different sound.
– We have used important tools to act quickly to prevent infection. And there are tools we can use again, Janet Yellen writes in the note, noting that she stepped in and got the deposits after the collapse of the Silicon Valley bank.
Strong measures ensure that Americans’ deposits are safe. She adds that we would certainly be ready to take further action if justified CNBC.
Neither that nor the fact that the head of the Hong Kong Monetary Authority, Eddie Yu, has come out and said the banking crisis in the US and Europe “has very little effect on Hong Kong” has improved the appetite for stocks in the region.
On Wall Street the day before, stocks pointed higher, with the Nasdaq Technology Index rising 1.01 percent.
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