Asian Bank Selloff Resumes With Credit Suisse as Fresh Trigger

(Bloomberg) — Asian bank stocks slid, resuming a sell-off as worries over the health of Credit Suisse Group AG compounded concerns sparked by the sudden collapse of Silicon Valley Bank.

The MSCI Asia Pacific Financials Index slid as much as 2%, headed for its fourth loss in five sessions. Japanese megabanks were again among the biggest drags, though Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. pared early losses of more than 6% after Credit Suisse said it secured funding support from the Swiss National Bank and offered to repurchase debt.