Asian markets extend global rally as banking sector fears ease

AFP :
Asian markets rose Friday, tracking New York and European equities, as traders welcomed multi-billion-dollar shows of support for troubled banks aimed at soothing concerns about contagion in the sector.
A rollercoaster week was on course to end on a positive note after several Wall Street titans including JP Morgan, Bank of America and Citigroup stumped up $30 billion to deposit into troubled First Republic. The move came as investors feared the lender could suffer a run of withdrawals by customers worried it would follow Silicon Valley bank and Signature Bank, which went under last week and fuelled fears of another financial crisis.