Asian stock markets are trading mixed on Monday, following the broadly negative cues from global markets on Friday, as traders remain cautious and assess the fallout of the biggest US bank failure since the 2008 financial crisis. Data showing an increase in U.S. unemployment rate, and a drop in wage growth also raised concerns the US Fed will continue to remain aggressive with regard to interest rate hikes this month. Asian markets closed mostly lower Friday.
The concerns about the potential fallout from the implosions of Silicon Valley Bank (SVB) and Silvergate Capital triggered a sell-off in the financial sector.
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