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.
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 .
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.
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.
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.
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.
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.