SINGAPORE : A volatile day looms in Asia on Monday, as investors' relief at a rescue deal for Credit Suisse and co-ordinated support from global central banks was tinged with nerves over how deep troubles run in the world's banking and financial system.
Over the weekend, UBS said it will buy Credit Suisse for 3 billion francs and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities. "The news overnight from Switzerland has helped," he said, though added that the central bank moves had calmed as well as created nerves.
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