Oversea-Chinese Banking Corp.’s talks to buy Wing Hang Bank Ltd. are reminding investors of the decade of writedowns DBS Group Holdings Ltd. went through to integrate its purchase of a Hong Kong-based lender.
Christopher Wong , who helps oversee $70 billion of assets at Aberdeen Asset Management Plc, commented on Asia’s emerging stock markets after China increased banks’ reserve requirements to lock up cash and cool inflation.
Emerging-market stocks slid the most in a week, led by energy companies, as China Petroleum & Chemical Corp. sank on a share-sale plan. The rand strengthened after South Africa’s unemployment unexpectedly fell.
Prudential Plc’s Tidjane Thiam tried and failed to expand in Asia by buying AIA Group Ltd. , his first test as chief executive officer. To succeed now, he will have to beat AIA’s new CEO and his ex-boss, Mark Tucker .
Goh Choon Phong , the incoming chief executive officer of Singapore Airlines Ltd. , will face growing competition for both premium and economy-class passengers in Asia as he tries to revive profits from a two-decade low.