Banking troubles again roil markets

The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024.

Bing Guan | Bloomberg | Getty Images

This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

What you need to know today

Nikkei rallies
Asia markets mostly rose Thursday, while Japan’s Nikkei led gains and hit fresh 34-year highs. The Nikkei 225 rallied nearly 2% and the Topix also gained after a report said the central bank won’t tighten monetary policy aggressively. Overnight, the S&P 500 rose and inched closer to the milestone 5,000 level, while the Nasdaq Composite climbed 0.95%. The Dow Jones Industrial Average also rallied on the back of another positive earnings session.

China’s VC shift
Geopolitics, sluggish growth and tight regulations are forcing a shift in strategy for China’s venture capitalists to seek investors outside the U.S. Beijing’s focus on policy support has also prompted VCs to look at consumer sectors, which usually require greater capital.

Russian oil
India’s energy minister claimed “the world is grateful to India for buying Russian oil,” adding the move keeps global crude prices affordable. The country’s refiners have been snapping up discounted Russian oil since Moscow’s invasion of Ukraine in February 2022.

SoftBank gains
Masayoshi Son’s SoftBank booked a more than $16 billion gain on its stake in Arm, which rallied in after-hours trading on a strong forecast. The company posted net income of $87 million, or 8 cents per share and quarterly revenue rose 14% from a year earlier.

[PRO] Bullish on Nintendo
Analysts are bullish on Nintendo and expect the Japanese video game’s stock price to rise by over 30% in the next 12 months. But that depends on whether the company’s highly anticipated console turns out to be a success, according to equity analyst David Gibson.

The bottom line

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