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September 06, 2005

Daily Tid-bits

* Indonesia raises 1mo rates by 50bps to defend Rupiah
* Commonwealth Bank of Australia acquires 19.9% of Hangzhou City Commercial Bank for $77m.
* Unidentified Singaporean Co. buys 6.88% stake in Huaxia Bank at auction at 16% discount to traded price. UPDATE: bidder revealed as Singapore PE fund Pangaea Capital Management.
* Indonesian Gov't to sell remaining stakes in BCA (5%), BII (10%).
* Fitch forecasts strong performance from Korean banks in 2005-6.

Posted by The Banker at September 6, 2005 10:32 PM

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