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Chin up: ECM bankers hunt for business as markets tumble
Asian equity indices were a sea of red on Monday, wiping out the gains from last Friday following the announcements of US and European stimulus packages. Primary market deal flow is almost non-existent, but bankers continue to pitch for business.
Hong Kong’s benchmark Hang Seng Index traded up 6.9% last Friday after a sharp fall in the morning, ending a tumultuous week at 24,068.41 points. But there was little respite on Monday, when the Hang Seng ended up slipping about 3.5% in the afternoon.
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