ASX big four banks finished the day in the green, although there appeared to be an afternoon sell-off.
At the close of trade, Commonwealth Bank of Australia (ASX: CBA) shares were up 0.64% today, and National Australia Bank Ltd (ASX: NAB) shares closed 0.14% ahead. Westpac Banking Corp (ASX: WBC) shares were up just 0.04% at the close, while ANZ Group Holdings Ltd (ASX: ANZ) shares were 0.44% higher.
However, earlier in the day, CBA shares leapt 1.75%, NAB shares rose 1.42%, Westpac shares jumped 1.42%, and ANZ shares elevated 1.54%.
For perspective, the S&P/ASX 200 Index (ASX: XJO) climbed 0.87% today.
Let's take a look at what may have impacted ASX big four bank shares today.
What's happened?
ASX bank shares appeared to rise this morning following financial fears in global markets easing overnight.
Bank of America Corp (NYSE: BAC) shares rose 3% on the New York Stock Exchange (NYSE: BAC) lifted 3.03% on Tuesday in the USA, while Wells Fargo & Co (NYSE: WFC) shares lifted 2.67%.
The shares of First Republic Bank (NYSE: FRC) shares soared 29%, rebounding from major losses in the last couple of weeks.
However, some of these shares fell in after-hours trade in the United States. For example, First Republic Bank shares slid 9% in after-hours trade, while Bank of America shares fell 0.07% into the red.
This may have weighed on ASX banking shares in afternoon trade today.
Just ahead …
All eyes are on the US Fed Reserve ahead of a rates decision, due on Wednesday US-time.
Commenting on the upcoming decision, Standard Chartered head of G10 FX research Steve Englander told Reuters:
The banking sector's near-death experience over the last two weeks is likely to make Fed officials more measured in their stance on the pace of hikes.
Meanwhile, Goldman Sachs analysts remained "confident" on the health of the ASX 200 bank shares, as my Foolish colleague James reported this morning.
Commenting on the big four, the broker said:
We remain confident in the health of the banking sector in Australia given:
i) a single, national regulator, with most of the Australian listed banks subject to the Liquidity Coverage Ratio (LCR); ii) balance sheet mix, which sees only a relatively small part of their balance sheets in a marked-to-market environment; iii) Australian bank regulatory capital positions are MTM for the impact of rate rises, and iv) strong capital positions, with fully-loaded CET1 ratios at close to 18%.
ASX 200 banking shares have been attracting a rise in investor interest recently following the banking turmoil and Europe and the United States.
As my Foolish colleague Bernd reported today, online trading of Westpac shares has lifted 350% week on week, while CBA share trading has risen 114%.
