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Asia high yield looks to shrug off post-Brexit blues
It was high yield that sprung back to life in Asia this week, while investment grade counterparts remained on the sidelines amid a cautious environment. Market participants remain hopeful that the region’s high yield market will benefit from a possible Brexit-driven pivot from European investors, write Narae Kim and Max Bower.
Britain’s decision to leave the European Union last Friday caused severe market convulsions — the pound dropped to its lowest level in over 30 years, while Barclays’ share price tanked 30% at one point last Friday.
Asia was not isolated from the shock either. Hong Kong’s Hang Seng ...Already a subscriber? Login
