The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

Japan’s Nikkei drops as SVB collapse weighs on bank stocks; autos slump

March 13, 2023By Reuters
Related Articles
Dollar edges higher as traders await US inflation report August 9, 2022 Gold slips as dollar advances with US debt talks dragging on May 24, 2023 Exchange operators, US debt ceiling jitters weigh on European shares May 17, 2023

TOKYO, March 13 (Reuters) – Japan’s Nikkei share average fell more than 1% on Monday, with banks leading losses as investors fretted over the potential fallout of Silicon Valley Bank’s (SVB) collapse last week.

Automakers also slumped amid pressure from a stronger yen, with Mitsubishi Motors pacing declines.

The Nikkei sank 1.11% to 27,832.96 as of the close, though that was well off the day’s low of 27,631.53, the weakest level since March 2.

The broader Topix dropped 1.5% to 2,000.99, after earlier touching 1,987.00 for the first time since March 1.

Banking was the worst performing sector among the 33 industry groups, dropping 4.01%. It was followed by insurance and securities, which fell 3.66% and 2.82% respectively.

Japan’s top government spokesman tried to allay fears over SVB’s fallout, saying he didn’t see it affecting Japan’s lenders.

Transport equipment makers slid 2.34% as the yen pushed to a one-month high versus the dollar.

The domestic slump followed mayhem on Wall Street on Friday, as banking shares tumbled after SVB became the biggest bank failure since the financial crisis.

However, the US Treasury and Federal Reserve announced a range of measures to support the banking system at the weekend, leading US futures to point firmly higher on Monday.

“Stocks will probably rebound to previous levels by Tuesday,” said Nomura equity strategist Kazuo Kamitani, adding that investors will be keeping a close eye on the 25-day moving average at 27,713.

While the outlook for Fed policy has been clouded by SVB’s collapse, Kamitani said that US economic data should remain the primary focus, and “ultimately, what investors need to pay attention to is CPI,” due on Tuesday.

Condordia Financial Group was the worst-performing lender on the Nikkei, down 5.29%. Mizuho slid 4.94%.

Mitsubishi Motors led all Nikkei decliners with a 6.46% plunge, closely followed by Mazda’s 5.96% loss. Nissan slumped 4.95%.

(Reporting by Kevin Buckland; Editing by Rashmi Aich)

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up