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Japan’s Nikkei average closed at a two-week low, dropping 680 points (1.8%) to 37,120.33, driven by concerns over U.S. tariffs on imported cars and parts. Automakers like Toyota and Honda saw significant declines, contributing to a market value loss of nearly $20 billion in three days. All 33 industry sub-indexes on the Tokyo Stock Exchange fell, with the brokerage sector experiencing the steepest drop at 4.52%.
Denmark's Nykredit has made a DKr24bn ($3.5bn) cash offer to acquire Spar Nord Bank, representing a 49% premium on its share price, with completion expected in the first half of 2025. In other news, AllianceBernstein plans to sue Switzerland over the $17bn writedown of Credit Suisse's AT1 bonds, joining a lawsuit that claims investor rights were violated during the UBS takeover. Additionally, DBS Group, Mitsubishi UFJ Financial Group, and Sumitomo Mitsui Financial Group are potential bidders for Indonesia's Panin Bank, which has seen a significant rise in its share value this year. Morgan Stanley will pay $15mn to settle SEC allegations regarding inadequate fraud prevention measures at its Smith Barney unit.
VPBank has disclosed that 13 individuals own over 40.8% of its shares, with Chairman Ngo Chi Dung holding 4.14%. The new Credit Institutions Act, effective July 1, expands the definition of "related persons," resulting in Mr. Dung and associates controlling nearly 34% of the bank's capital. Additionally, significant stakes are held by institutional shareholders, including Sumitomo Mitsui with over 15%.
Sumitomo Mitsui Financial Group, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Nikkei falls to two-week low as automakers decline on tariff fears
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09:10 28.03.2025
Nykredit to Acquire Spar Nord Bank in Major Danish Banking Merger
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12:03 10.12.2024
vpbank shareholders increase ownership under new credit institutions law
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04:35 16.10.2024
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