Asia Markets Trade Mixed as Banking Sector Stress Linger

Asian markets are up after retail sales in Japan and Australia came out higher than expected.

Asia Markets Trade Mixed as Banking Sector Stress Linger

This is CNBC’s live blog that covers Asia-Pacific markets.

As investors continue to evaluate the impact of banking problems in Europe and the U.S., the Asia-Pacific markets were mixed Monday.


Deutsche Bank

After being listed in the United States, it saw a sale of its shares.

The German lender's credit default Swaps have soared

Without any apparent catalyst.

The Australian government has a number of laws that protect the environment.

S&P/ASX 200

Japan's GDP rose by 0.2%, but the Japanese economy grew by 0.2%

Nikkei 225

The Topix also opened 0.15 percent higher, and climbed 0.221%.

South Korea is however,


Both Kosdaq and Kosdaq fell by 0.13% et 0.06%, respectively.

Hong Kong markets also looked set to decline, with Hang Seng futures trading at 19,864 as opposed to 19,915.68.

All three major US indices closed higher in the U.S. to record a winning week.

Dow Jones Industrial Average

Gaining 1.2% for the week, while the

S&P 500


Nasdaq Composite

The respective increases were 1.4% and 1.7%.

This report was contributed by Alex Harring, Sarah Min, and Hakyung Kim of CNBC.

In February, Japan's service producer price index increased 1.8%

The Japanese services producer price index grew 1.8% in February, compared to 1.6% in January.

According to government data, this reading was the third consecutive month with accelerated gains.


Japanese yen

The U.S. Dollar has been slightly devalued to 130.9 after the report.

-- Jihye Le

Deutsche Bank's U.S.-listed shares pull off lows

Deutsche Bank

Midday trading saw a 4.3% drop in shares of U.S.-listed companies, bringing them back to their lowest levels. The bank stock had earlier fallen 14%.

The German lender's credit default Swaps have jumped

Without any apparent catalyst.

Concerns about the future of Europe's banking industry have eased slightly after Christine Lagarde, President of the European Central Bank, stated that euro zone banks are resilient and have strong capital and liquidity positions. Lagarde stated that the ECB could supply liquidity if necessary.


JPMorgan defended Deutsche Bank

According to a statement, Friday's European Bank CEO said that investors should concentrate on its "solid" fundamentals.

-- Sarah Min

Stocks make the largest midday moves

These are the top names that made the biggest moves at midday.


Midday trading saw the famed meme stock gain 2.5% Stock has been

Active since its first quarter of profitability

This week is two years ago.

Deutsche Bank


The U.S.-listed shares of the German lender fell 5% after rebounding from its lows. After the bank's credit default Swaps spiked without any apparent catalyst, the bank stock was down 14%.

JPMorgan defended Deutsche Bank

Friday's statement stated that investors should concentrate on the "solid" fundamentals of the European bank.



After the announcement, Regeneron saw 2.2% growth


The stock was upgraded to a buy rating from a hold rating. It also stated that the Dupixent drug, which is being developed with Sanofi could be the next major catalyst for the company.

Read the complete story to see how more companies make moves during midday trading


Brian Evans

Fed's Bullard claims that Fed policy responses were'swift, appropriate'

James Bullard, President of the St. Louis Federal Reserve, stated Friday that central bank policies should be used to limit financial system cracks.

Bullard stated in a presentation that "Continued appropriate microprudential policy could contain financial stress while appropriate monetary policies can continue to lower inflation pressure."

His comments were very similar to those of Fed Chairman Jerome Powell on Wednesday, who stated that interest rate increases are intended to target inflation and special lending facilities will keep banks solvent.

Bullard described the Fed's response to the banking crisis as "swift" and "appropriate". Bullard also pointed out that despite the financial turmoil, economic data was stronger than expected. He said that inflation had "declined recently".

The presentation materials that Bullard presented with his speech didn't indicate any position on how rates should be moved forward. The market is pricing in the strong possibility that the Fed won't raise rates when it meets again in April. Bullard is not a voting member of the Federal Open Market Committee, which sets rates.

--Jeff Cox

Gold paces to finish the week higher

Even though you see only a

A modest advance

In Friday's session


This week, the price of gold has risen 1.4%. If gold finishes Friday's session higher than its weekly flatline it will be the fourth consecutive week of winning.

-- Gina Francolla, Alex Harring