U.S. financial regulators rolled out emergency measures to stem potential contagion from the collapse of Silicon Valley Bank. TAIEX opened low and dropped 170 points in the early trading hours then rebounded.
Silicon Valley Bank, a subsidiary under SVB Financial Group, collapsed after a capital raise failure. This is the largest financial failure in U.S. history since the 2008 financial crisis. The Fed announced that it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. With the seeming impending storm, Taiwan Stock opened low at 15,514.03 then dropped further, exceeding 170 points, after which it rebounded.
Wang Rong-hsu, Analyst: “Whether the SVB crisis will trigger other problems afterward certainly affected Asian stock markets in the early trading hours, rendering a weaker performance.”
Wang Mei-hua, Minister of Economic Affairs: “The U.S. government has already stepped in to solve this problem. I believe there will be a sounder outcome afterward and will not affect Taiwan that much.”
The Fed's announcement pointed out that it will offer loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. The three major stock indexes all rose in response to Fed's announcement. Meanwhile, in Taiwan, hot money returned and the NTD to USD exchange rate hit 30.68, up by 16.8 cents.
Li Chi-chan, Foreign Exchange Analyst: “The stock market apparently followed U.S. stock adjustments; however, in the foreign exchange market, foreign investors continued to be confident so that's why the stock and foreign exchange varied in their response.”
A hawkish statement from Fed Chair Powell recently put the option of a 50 bps hike on the table for March. However, due to the failure of SVB and other factors, investors estimate that there will likely only be a 0.25 percent interest raise this month. In addition, they will publicize the February CPI and if it's relatively steady in comparison to January, the Fed may maintain the 0.25 percent interest rate increase plan.
美國SVB集團旗下的矽谷銀行在增資失敗後，宣告倒閉，這是從2008年金融危機以來，美國銀行規模最大的倒閉事件。聯準會發布聲明將確保儲戶資金安全，希望遏止恐慌蔓延，但台股山雨欲來，一早開低在15514.03點，隨後跌幅擴大，早盤下跌超過170點後拉回，逆勢反彈。
分析師王榮旭說：「後續SVB銀行是不是會延伸出其他一個連動性的問題，所以今天其實亞洲股市在早盤的時候，表現還是比較弱勢一點。」
經濟部長王美花回應：「（美國）政府已經跳出來說要來解決這個問題，我想後續應該會有比較好的結果，台灣的影響不大。」
聯準會發布聲明指出，將向符合條件的儲蓄機構提供長達一年的額外資金，以確保銀行有能力滿足所有儲戶需求，美股三大指數應聲集體走揚。國內股匯不同調，熱錢大舉回流，新台幣兌美元匯率最高來到 30.68 元，一度升值 1.68 角。
外匯分析師李其展說明：「股市對這邊確實是延續了美股的修正，而修正一段，但是在匯市方面，外資的信心並沒有很大的潰散，所以才會出現股匯不同調的現象。」
美國聯準會2月釋出強烈鷹派訊息，外界原先預估三月可能升息2碼，不過因為矽谷銀行事件等因素，投資人預期本月可能只會升息1碼。另外本週也將公布2月消費者物價指數CPI，如果與1月數據持平，可能讓聯準會維持本月升息1碼的路線。