Bloomberg Indonesian stocks slumped on Tuesday, triggering a trading halt for the third time in a week. The Jakarta Composite Index ended the day down 5% to its lowest level since January 2016. A total of $356 million in equity value changed hands as of the time of the market suspension , Laksono Widodo, director of trading and membership at …

Bloomberg Japanese banks tapped into the Federal Reserve’s revamped swap lines, taking up a total of about $32 billion in the first operation since the US central bank lowered rates on Sunday. Lenders from the Asian nation borrowed about $30.3 billion for 84 days at 0.370% in the swap coordinated by The Bank of Japan. They borrowed about $2.05 billion …

Bloomberg Chinese banks face an unprecedented drop in profits this year as bad loans surge because of the coronavirus outbreak, according to UBS Group AG. In a severe downside case, China’s banking industry could see bad debt jump to 5.2 trillion yuan in 2020, UBS analysts led by May Yan said. The estimate is based on an assumption that China’s …