Global Markets React to Tech, Banks, Politics, and Economic Concerns

Asian markets are likely to be influenced by US earnings, banking sector woes, debt ceiling developments, and geopolitical events. Mega tech companies like Microsoft and Alphabet have reported upbeat results, while small and regional US banks are struggling. South Korea's President met with US President Biden, and China's Xi Jinping held talks with Ukraine's Volodymyr Zelenskiy. The yuan has overtaken the dollar for cross-border transactions in China, and central banks remain buyers of US Treasuries. Asian markets will also be sensitive to the US debt ceiling standoff.