This year's merger between DBS Group Holdings of Singapore and the Dao Heng Bank of Hong Kong illustrates the high price outsiders are willing to pay for quick entry--3.2 times book.

FORBES: One China, Many Choices

Last week, DBS Group Holdings Ltd.

WSJ: U.K. Banks Sell $245 Million Dim Sum Bonds in Singapore

Singapore's DBS Group Holdings Ltd.

WSJ: Asian Brokers Benefit From Rising Stock-Trading Volumes