Raymond Tang News
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Malaysia’s biggest pension fund sold about 331 million ringgit ($110 million) of shares in the country’s benchmark index as Prime Minister Najib Razak’s election victory sparked the largest rally since 2008.
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Raymond Tang , who oversees $6.4 billion as chief investment officer at CIMB-Principal Asset Management Bhd. in Kuala Lumpur, comments on the impact on stocks of Japan’s nuclear accident following its strongest earthquake .
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China’s stocks fell the most among Asian markets after a report showing inflation accelerated more than forecast, limiting room for monetary easing to support an economic recovery.
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Citic Securities Co., China’s largest brokerage, was reprimanded by the nation’s securities regulator for failing to disclose a drop in profit at SooChow Securities Co. when advising on its initial offering.
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Emerging-market stocks fell, led by energy producers and industrial companies, after Moody’s Investors Service cut the debt ratings of six European nations.
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Citic Securities Co., China’s largest brokerage by market value, and France’s Credit Agricole SA are nearing an agreement to form a global brokerage venture, including China and the Asia Pacific region, said four people with knowledge of the matter.
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Emerging-market stocks tumbled the most in eight months, currencies sank and borrowing costs rose as growing concerns of a nuclear disaster in Japan and conflict in the Middle East spurred investors to sell riskier assets.
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The U.S. Securities and Exchange Commission obtained a second emergency court order to freeze assets of traders who allegedly profited from insider knowledge of Cnooc Ltd.’s bid for Nexen Inc.
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Citic Securities Co. may exclude foreign underwriters in favor of Chinese bankers for its $2.2 billion Hong Kong stock sale, bolstering the nation’s push to build global investment banks that can compete overseas.
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Temasek Holdings Pte and Kuwait Investment Authority are among early investors who agreed to buy $900 million of stock in Citic Securities Co.’s initial share sale in Hong Kong, two people with knowledge of the matter said.
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