The amount of mergers and acquisitions involving Asian companies fell 39% to $ 176 billion in the first quarter of 2017, the lowest level in nearly three years, highlighting a sharp drop in overseas acquisitions among Chinese companies.

Thomson Reuters data show that the overall weakness of the transaction to European and American enterprises as the goal of cross-border transactions is a significant decline, but the Asian region is relatively strong transactions, accounting for 56% from the same period last year rose to 61%. The data reflect transactions involving Asian companies outside Japan.

Transactions in the Asian region are more active due to industry consolidation in major Asian economies, as well as privatization and asset sales in countries such as Singapore and Australia.

Investment bankers say most buyers are either well-capitalized Asian companies or private equity funds that want to seize the opportunity in Asia's growing consumer demand.

"M & A activity in Asia is still strong," said Mervyn Chow, co-head of Asian credit investment banking and capital markets Asia.

"While China's capital controls could affect cross-border transactions in the short term, we expect strategic investment in China to continue."

In the first quarter of this year, nine of the top 10 M & A deals in the Asia-Pacific region were announced in the region, with Vodafone (VOD.L) India's business with industry-based Idea Cellular (IDEA.NS) The

Bankers say there are likely to be more similar deals, such as the Singapore-listed company Global Logistic Properties (GLPL.SI), which could sell for more than $ 9 billion; and privatized Australian power companies.

M & A transaction fees plummeted nearly 40% to $ 321 million. Morgan Stanley (MS.N) is the number one advisor, followed by the Industrial and Commercial Bank of China (1398.HK) and Credit Suisse (CSGN.S).