Bloomberg Morgan Stanley and Goldman Sachs Group Inc. were granted approvals to take control of their securities joint ventures in China as policy makers push ahead with the opening of the nation’s $45 trillion finance industry even as they fight to contain the coronavirus outbreak. Morgan Stanley plans to boost its stake to 51% from 49% with the approval from …

Bloomberg The Bank of Korea (BOK) will provide $12 billion to banks in its first round of dollar injections using a currency swap line with the Federal Reserve. The auction will be held on Tuesday at 10 am Seoul time, and banks may apply for seven-days debt of up to $300 million, and 84-days debt of up to $1.5 billion, …

Bloomberg The two-decade run of record profits at China’s biggest banks, which even survived the financial crisis, is facing its biggest test. Banks such as Industrial & Commercial Bank of China Ltd., the world’s largest by assets, are caught in a vise as their operations are hammered by the outbreak of the deadly coronavirus. At the same time, they are …