Fears of HK deal freeze as equity markets suffer
The benign market conditions that have spurred equity issuance in Hong Kong and bond deals across Asia in recent months finally came to an end this week. The Hang Sang index lost 7% over the 10 days to Wednesday, while increasing Treasury yields took their toll on bond markets.
Bankers pointed to a clutch of reasons behind the weakness, including increasing fears over the financial stability of Ireland, doubts about the effects of quantitative easing and the threat of price controls in China.
Low Treasury yields and a hungry investor base have also allowed Asias bond issuers
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