Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, as fears of a global banking crisis once again eased following the latest developments in the sector and after three regional US Fed bank presidents said the U.S. banking system was not facing a liquidity crisis. Asian markets closed mixed on Monday.
News that First Citizens BancShares Inc. will buy all deposits and loans of Silicon Valley Bridge Bank, and the U.S. Financial Stability Oversight Council's remarks that the U.S. banking system was "sound and resilient" despite stress on some institutions, lifted sentiment in global markets.
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