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Asian Stocks Tumble as Concerns on US Economy Sinks Tech Shares

(Bloomberg) -- Asian equities headed for their lowest close in over three weeks, as technology stocks slid on concerns over US economic growth.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainThe MSCI Asia Pacific Index fell as much as

Singapore's UOB wants to dominate US$2 trillion trade finance market in Southeast Asia

United Overseas Bank (UOB), Singapore's third-largest lender by assets, is aiming to dominate trade financing in Southeast Asia, capitalising on the region's appeal as a beneficiary of a widening rift between the US and China. The bank, which serves thousands of small and medium enterprises (SMEs) and corporate giants, wants to capture a bigger slice of the US$2 trillion trade flows in the region, according to Frederick Chin, head of group wholesale banking and markets. "The bright spot will be

Morgan Stanley’s Wilson Says Yen Carry Risk Lingers for Stocks

(Bloomberg) -- US equities are at risk from a further unwinding of yen-funded carry trades if the Federal Reserve delivers a jumbo interest-rate cut this month, according to Morgan Stanley’s Michael Wilson.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to