Malaysian lender Malayan Banking, has secured a controlling stake in Indonesia's sixth-biggest lender, Bank Internasional Indonesia, for $1.5 billion, Maybank said on Wednesday.
Asian markets climbed Tuesday following news of JPMorgan's raised bid for Bear Stearns. Expectations for a recovery in U.S. credit markets cheered investors. Hong Kong stocks jumped over 6 percent and Japan finished over 2 percent higher.
Malaysia's prime minister vowed on Tuesday to speed up economic reform after voters gave his government a sharp wake-up call at elections this month.
Asian stocks ran flat to higher Monday. Japan and South Korea finished in the black. Trading activity was muted markets in Australia and Hong Kong closed for the Easter holiday. They will reopen Tuesday. Friday was a holiday in the United States and around 40 other countries worldwide.
Asian stocks were mostly stronger this Good Friday, following gains on Wall Street. Japan and South Korea both finished over 1% higher. Markets in Australia, Hong Kong, India, Indonesia and Singapore are closed for the Good Friday holiday.
Asian stocks bounced around in the afternoon session Thursday, with Chinese markets oscillating wildly, losing as much as 6.5% at one point, but swinging back into the black, now trading over 2% higher.
Asian markets rallied on Wednesday as investors took a shine to the U.S. Federal Reserve's interest rate cut. Australia had a spectacular session, finishing 4% higher. Japan and South Korea both ended over 2% higher.
Asian stocks closed mostly higher Tuesday after Monday's selloff as battered financials regained some luster ahead of a Federal Reserve meeting that is expected to yield steep U.S. rate cuts. Japan finished 1.5 percent higher, but Australia closed flat.
Asian markets plunged Monday, but stocks were off session lows. Japan closed 3.7 percent lower and Hong Kong fell 5 percent.
Asian stocks ended mixed Friday as investors were uncertain about whether the worst was indeed over for credit markets. Japan shed 1.5 percent but Australia managed to hang on to gains closing 1.4 percent higher.
Asian markets sank Thursday with investors spooked by news that Netherlands-listed fund Carlyle Capital, expects its lenders to seize its assets and cause its likely liquidation. Carlyle Capital is an affiliate of private equity firm Carlyle Group.
Asian stocks closed firmly higher Wednesday, though off their earlier highs, after the U.S. Federal Reserve, in a joint effort with other central banks, said it would add up to $200 billion in funds to help resuscitate strained credit markets.
Asian markets moved out of negative territory and closed higher Tuesday. Japan and South Korea both ended over 1 percent higher despite initial sharp losses during the morning.
Opposition parties were getting ready to take power in five of Malaysia's 13 states on Tuesday, putting the country in uncharted waters with the government facing real competition for the first time.
Asian stocks slumped to a seven-week low Monday, following a fall in U.S. stocks last Friday, after data showed employment fell in February at its fastest rate in five years, heightening worries about the economy.
Malaysia's premier said on Sunday he has no plan to step down after leading his ruling coalition to its worst election result in decades, despite calls by his influential predecessor for him to quit.
Malaysia's premier called for fresh elections on Wednesday, kicking off a campaign likely to be dominated by racial issues as religious tension rises in the southeast Asian nation.
BRIC is out. These new global investment hot spots are in.
AT&T, the biggest U.S. phone company, is keen to buy an unspecified stake in the mobile arm of state-controlled phone firm Telekom Malaysia, a Malaysian newspaper reported on Wednesday.
Malaysian plantations to energy group Sime Darby relisted on the local market on Friday at a 36 percent premium to its indicative price, after its merger with two other palm-oil groups.