Asian shares mostly fell Monday, shaken by a Wall Street tumble that set off worries the biggest United States bank failure in nearly 15 years might have ripple effects around the world. But the falls were relatively subdued because of reassurances from U.S. officials that financial shocks would be mitigated. Japan's benchmark Nikkei 225 slipped 1.6% to 27,685.86 in morning trading. Australia's S&P/ASX 200 lost 0.3% to 7,125.90. South Korea's Kospi shed 0.4% to 2,385.25. Hong Kong's Hang Seng rose 1.4% to 19,594.07. The Shanghai Composite rose 0.3% to 3,238.98, as Chinese shares tracked a gain in U.S. futures. Dow futures were up 1.1% at 32,516.00. S&P 500 futures rose 1.4% to 3,952.50. The recent developments in Chinese politics have also worked as a stabilizing factor. Major posts, including the governor of the Bank of China, as well as other political leaders, were announced, signaling a continuation of policy. Also Read: Startup-focused Silicon Valley Bank becomes largest bank to fail since 2008 financial crisis Before trading began in Asia, the U.S. Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients will be protected and have access to their funds and announced steps designed to protect the bank’s customers and prevent more bank runs. Regulators closed Silicon Valley Bank on Friday amid a run on the bank, which was the second-largest U.S. bank failure, behind the 2008 failure of Washington Mutual. They also announced Sunday that New York-based Signature Bank was being seized after it became the third-largest bank failure in U.S. history. Following two bank failures, worries about financial stability and liquidity concerns were dominating the market landscape, said Stephen Innes, managing partner at SPI Asset Management in Hong Kong. He said traders made nervous by the weekend's news could create “a ready-aim-fire Monday open.” “With the market likely headed for a more turbulent period with US inflation on a collision course with Bank ‘theater of tragedy,’ now is probably not the best time for investor euphoria," Innes said. But the sense that U.S. authorities were taking some steps to limit “the contagion effect” had somewhat of a calming effect, although “markets remain skittish” in Asia, said Venkateswaran Lavanya at Mizuho Bank. Shares had tanked Friday on Wall Street, with the S&P 500 dropping 1.4% to cap its worst week since September. The Dow Jones Industrial Average fell 345 points, or 1.1%, while the Nasdaq composite sank 1.8%. The S&P 500 fell 56.73 points to 3,861.59. The Dow lost 345.22 to 31,909.64, and the Nasdaq dropped 199.47 to 11,138.89. Some of the sharpest drops on Wall Street last week came from the financial industry. First Republic Bank tumbled 14.8%, while Charles Schwab lost another 11.7% after dropping 12.8% Thursday. Larger banks, which have been stress-tested by regulators following the 2008 financial crisis, held up better. JPMorgan Chase rose 2.5%. In Tokyo trading, banking issues were sold, with MUFG Bank falling nearly 4%, echoing such falls on Wall Street. Shares in Mitsui Sumitomo Financial Group dipped 4.7% in morning trading. Worries were growing recently that interest rates are set to go higher than expected after the Fed Reserve said it could reaccelerate the size of its rate hikes. The Fed is focusing on wage growth in particular in its fight against inflation. It worries too-high gains could cause a vicious cycle that worsens inflation. Traders now largely expect the Fed to stick with a modest 0.25 point hike. Last month, the Fed slowed to that pace after earlier hiking by 0.50 and 0.75 points. The Fed has already raised rates at the fastest pace in decades and made other moves to reverse its tremendous support for the economy during the pandemic. In energy trading, benchmark U.S. crude lost 26 cents to $76.42 a barrel. Brent crude, the international standard, fell 35 cents to $82.43 a barrel. In currency trading, the U.S. dollar fell to 134.40 Japanese yen from 134.96 yen. The euro cost $1.0694, up from $1.0643.

Local Government, Rural Development and Co-operative (LGRD) Minister Md Tajul Islam has claimed that Bangladesh is well-positioned in comparison to other Asian nations with regards to its foreign debt.   He came up with the assertion while briefing journalists after a meeting with a World Bank delegation led by its country director Mercy Tembon at the Bangladesh Secretariat on Tuesday.   “Our foreign loans are less than other Asian counties. We never failed to pay the loans. That is why the World Bank wants to give us more loans. But, we will take loans considering all economic aspects of the country,” Tajul said.  READ: Parking on roads should be penalised: LGRD minister The government of Sheikh Hasina is receiving foreign loans after proper scrutiny, he said.    Tajul also said, “World Bank basically is a finance organisation. It has been mentioned that Bangladesh is not a bottomless basket anymore. Bangladesh is moving forward as an emerging economy. The current economic condition of Bangladesh is far better than the past.”  Mentioning that development works of various projects financed by the World Bank worth $2.87 billion are going on in full swing in the country, the LGRD minister said the Washington-based lender has expressed its keen interest to invest about $100 billion in various sectors in Bangladesh.   About the much-hyped Padma Bridge, he said, the World Bank acknowledged that Bangladesh has shown its capacity to the whole world by constructing Padma Bridge. LGRD secretary Mezbah Uddin Choudhury along with the other high officials of the ministry was present.

Bangladesh's national hockey team made a good start to the nine-nation Men's Asian Games Qualifiers, defeating Indonesia 3-1 in Saturday's match in Thai capital Bangkok. In March last too, Bangladesh outplayed hosts Indonesia 7-2 in the AHF Cup Hockey Tournament. Bangladesh, which was placed in four-team Pool B of the Men's Asian Games Qualifiers with Sri Lanka, Indonesia and Singapore, will face Sri Lanka on May 10 and Singapore on May 12 in the remaining group matches. In the day's first match in Bangkok, Sarwar Hossain put Bangladesh ahead by a field goal in the 10th minute of the match (1-0). Forward Pushkar Khisha Mimo doubled the Bangladesh margin in the eighth minute of the 2nd quarter also by a field goal (2-0). Indonesia reduced the margin in the ninth minute of the 3rd quarter (2-1).  Finally, midfielder Fazle Hossain Rabbi sealed the fate of the match scoring one more field goal in the 10th minute of the quarter (3-1). Bangladesh captain Rezaul Karim Babu displayed his brilliance in the field and was adjudged man of the match. READ: Asian Games Hockey Qualifier: Bangladesh to play Indonesia on Saturday The Men's Asian Games Hockey Qualifier  began in Bangkok on Friday (May 6), despite the Asian Games Authority on the same day deferring the Hangzhou Asian Games indefinitely amid a recent surge in Covid-19 cases in China, the host country. The Hangzhou Asian Games was scheduled for September 10-25 this year in China. On completion of the Asian Games Hockey Qualifiers, the Bangladesh team, led by new captain Khorshedur Rahman, will travel to Indonesia to compete in the Men's Asia Cup Hockey in Jakarta from May 23 to June 1. In the eight-nation Hero Men's Asia Cup Hockey, Bangladesh has also been placed in Pool B with Malaysia, Korea and Oman. Bangladesh will face Korea on May 23, Oman on May 24 and Malaysia on May 26. Bangladesh squad:  Goalkeepers: Biplob Kujur, Abu Sayeed Nippon Defenders: Khorshedur Rahman, Farhd Ahmed Shitul, Ashraful Islam, Mehedi Hasan, Rezaul Karim Babu, Shohanur Rahman Sabuj. Midfielders: Sarwar Hossain, Roman Sarkar, Naim Uddin, Fazle Hossain Rabbi, Prince Lal Samanta. Forwards: Rasel Mahmud Jimmy, Milon Hossain, Pushkor Khisha Mimo, Arshad Hossain, Rakibul Hasan Rocky (Jr).

Sri Lankan Volleyball team arrived in the capital on Tuesday to compete in the six-nation Bangabandhu and Bangamata Asian Central Zone Challenge Cup Men’s and Women’s Volleyball Championships beginning here on Thursday at the Shaheed Suhrawardy Indoor Stadium in Mirpur. Earlier on Monday, two other foreign teams--Nepal and Kyrgyzstan –-arrived in the city to participate in the meet. Six participating countries --- Nepal, Kyrgyzstan, Uzbekistan, Sri Lanka, the Maldives and host Bangladesh—will compete in the six-day meet in the Bangabandhu men’s and Bangamata women’s competitions. READ: Premier Volleyball: Holders Titas Club to play PDB in final on Wednesday All the six teams will compete in the women’s section while five teams, except Kyrgyzstan, will participate in the men’s section of the meet. Host Bangladesh will play the Maldives in the official opening match of the men’s section at 3:30 pm while Bangladesh will play Kyrgyzstan at 1:30 pm in the women’s completion. After league basis matches, two top teams of both the men’s and women’s groups will play in the final. Meanwhile, the logo and trophy unveiling ceremony of the championship was held today (Tuesday) at the Dhaka North City Corporation (DNCC) office here. READ: Premier Volleyball: Bangladesh Ansar, Police AC win DNCC Mayor and President of Bangladesh Volleyball Federation (BVF) M Atiqul Islam , Secretary General of Bangladesh Olympics Association Syed Shahed Reza, BVF general secretary Ashiqur Rahman Miku and Senior Executive Director of the meet’s sponsor Walton Group FM Iqbal Bin Anwar were present on the occasion.

Many nations in the Asia-Pacific region are rolling out the first shots for COVID-19 this week.

Shares were mostly higher in quiet trading on Friday in Asia as China began a week-long Lunar New Year festival that is being overshadowed by the outbreak of a new virus that has killed 25 people and sickened more than 800.