Business Update: Asia bank jitters

February 20, 2009

Growing worries over the extent depth of the U.S. recession and fears it may nationalise banks caused financial stocks to slump, but ANZ said it was bargain hunting in Asia. * RBS to sell Asia and US operations * Hyundai to expand incentive plan * Japan's monopoly watchdog investigation Seven-Eleven * India to impose safeguard duty on Chinese aluminium * Rio postpones price negotiations with Chinese steel mills