By Lee Su Shyan , ASSISTANT MONEY EDITOR

ASIAN stock markets surged with relief yesterday after a dramatic move by the United States government to grab control of two ailing home loan giants.

The move, which could turn out to be the biggest financial bailout in US history, is widely seen as removing some of the devastating uncertainty that has plagued credit markets for months.

Investors across Asia pounced on stocks, especially banks, propelling markets from Tokyo to Hong Kong and Singapore to their best showings in months.

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