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  • Citigroup Inc. (NYSE:C) Sees Strong Growth in 2011 in Southeast Asia

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    Wednesday Jan. 12, 2011 at 06:08 pm EST
     
    Citigroup Inc. (NYSE:C) Sees Strong Growth in Southeast Asia
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    Citigroup Inc. (NYSE:C) Asia-Pacific Chief Executive Shirish Apte said 'Investment banking revenue hit a record for Southeast Asia last year and the region will continue to be a hub of deal activity this year even as inflation becomes a growing problem.' Increasing opportunities in countries in the Association of Southeast Asian Nations, or Asean, are the reason behind Mr. Apte's move to Singapore from Hong Kong in the coming month. Citigroup Inc. (NYSE:C) Chief Executive Stephen Bird, who runs Citigroup's Asia-Pacific operations with Mr. Apte, will continue working from Hong Kong.
    Citigroup was an adviser last year on several major Southeast Asian IPOs, including Global Logistic Properties Ltd.'s $3.0 billion offering in October, and Mapletree Industrial Trust's $718 million deal the same month. It also advised Singapore's DBS Group Ltd. on the $104 million sale of its asset-management operations to Japan's Nikko Asset Management, a unit of Sumitomo Trust & Banking Co., in exchange for a 7.25% stake in the Japanese outfit.

    Shares of Citigroup Inc. (NYSE:C) closed at $5.08 on Wednesday aboce its resistance level of $4.95. There are no Major resistance points above Today's close. Major support levels for Citigroup Inc. below $5 are at $4.95, $4.78, $4.62, $4.39, $4.24 and $3.95.

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