Singapore shares opened slightly weaker today, with banks opening in the red on contagion fears after the US regulators shut Silicon Valley Bank to protect customer deposits.

On the local bourse, the Straits Times Index headed down 0.2 per cent to 3,171.41 points in early trade after 101.5 million securities changed hands.

Meanwhile, state regulators in the US had on Sunday shuttered a second bank - the New York based- Signature bank on Sunday. 

That bank had total assets of about US$110.36 billion and total deposits of roughly US$88.59 billion as at Dec 31.

The big question here is to what extent is this a reflection of the performance of the tech sector in the US? Also - to what extent will this affect the financial and technology sectors here in Singapore.?

On Market View, the Drive Time team posed these questions to David Kuo, Co-founder, The Smart Investor.

Singapore shares opened slightly weaker today, with banks opening in the red on contagion fears after the US regulators shut Silicon Valley Bank to protect customer deposits.
On the local bourse, the Straits Times Index headed down 0.2 per cent to 3,171.41 points in early trade after 101.5 million securities changed hands.
Meanwhile, state regulators in the US had on Sunday shuttered a second bank - the New York based- Signature bank on Sunday. 
That bank had total assets of about US$110.36 billion and total deposits of roughly US$88.59 billion as at Dec 31.
The big question here is to what extent is this a reflection of the performance of the tech sector in the US? Also - to what extent will this affect the financial and technology sectors here in Singapore.?
On Market View, the Drive Time team posed these questions to David Kuo, Co-founder, The Smart Investor.

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Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters with Hongbin Jeong and Chua Tian Tian

Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)

Market View: How the Silicon Valley Bank collapsed within 48 hours - marking the biggest banking failure since 2008’s Global Financial Crisis; Collapse of Signature Bank; Impact on startups around the world and in Singapore; Contagion effect on Singapore’s banking sector; HSBC’s acquires SVB’s UK arm for £1; What the collapse suggest about the health of tech firms in the US; FDIC’s assurance; Impact of Fed’s interest rate decision in March