Business news: the past week in Asia
China’s Nasdaq-style index debuts with a flourish only to see stocks collapse, and India aims for up to 10% annual growth. Mining giant Rio Tinto looks to spend to diversify as commodity markets improve, and Korea’s top state lender aims to buy Asian assets ahead of its 2011 IPO.
The World Bank warned that countries in East Asia could witness inflationary pressure and asset bubbles unless their central banks began to tighten monetary policy. The bank said China, Hong Kong, Singapore and Vietnam had seen rapidly rising equity and house prices, and that monetary tightening was required
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