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Asian markets mixed after Fed responds to bank failure

U.S. central bank calms investors with guarantee of Silicon Valley Bank deposits

Many Asian markets appeared to be reassured by a statement from the U.S. Federal Reserve that it would move to limit any "contagion" from the collapse of Silicon Valley Bank.   © Reuters

HONG KONG -- Asian stock markets were mixed on Monday after the U.S. Federal Reserve took emergency action to shore up the financial system following the collapse of Silicon Valley Bank.

Shortly before the start of Asian trading, the Fed unveiled a new lending facility that would guarantee all deposits in the failed U.S. lender and joined with other financial regulators in a pledge to take "decisive actions to protect the U.S. economy by strengthening public confidence in our banking system."

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