Hong Kong — After the Covid-19 pandemic pulled down the curtain on deal making in the first half of the year, an unexpected bright spot emerged in the third quarter: Asia.

Companies in Asia Pacific have announced $404bn of deals since the start of July, marking the busiest third quarter on record, according to data compiled by Bloomberg. The volume of deals in the region has climbed nearly 11% from a year earlier, while those in Europe and the Americas have plunged...

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