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A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49% stake in American Life Insurance , a unit of AIG, in a deal that could be worth up to $10.6 billion, Japan's Nikkei business daily reports.
Asian markets experienced a large turnaround Friday, after hitting five-year lows in the morning session. Stocks bounced into the black on rumors that China would adjust interest rates as well as short covering.