Asian Bank Stocks Decline as U.S. Regional Banks Face Challenges

Deep News
10/17

Asian bank stocks declined due to heightened concerns about the credit market stemming from loan issues at two U.S. regional banks. The MSCI Asia-Pacific Financial Index fell 0.8% on Friday, which was the largest drag on the broader MSCI Asia-Pacific Index, down 0.4%. The S&P Regional Banking Select Industry Index plummeted 6.3% on Thursday following revelations that Zions Bancorp and Western Alliance Bancorp were victims of fraud when extending loans to funds involved in distressed commercial mortgage loans.

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