Asia Pacific

New tax measures and a vague fiscal consolidation plan are expected at the upcoming Indian budget - but the fiscal picture is not as grim as the bears say, according to Credit Suisse, giving the finance ministry some breathing room despite the macro headwinds

The best-performing assets this year and why capital restrictions are not likely for now

China's moves to curb banks' off-balance sheet activity highlights its desire to maintain a vice-like grip on the financial system, undermining capital account liberalisation predictions

Dim sum bond issuance will pick up in the next few months, bucking a perceived slow start to the year — and the market could end 2012 with volumes around 50% higher than the year before, said Mason Wu, a fund manager at Prudence Investment Management.

In an economic soft landing, HSBC’s Asian earnings are likely to remain resilient even if impairments rise, reckons Nomura, after the global emerging markets bank reported pre-tax profit of $21.9bn

A flurry of activity in Hong Kong’s dim sum bond market suggests that conditions are ripe for borrowers after a sluggish end of 2011 – and now is the perfect time for new issuers to take the plunge.

Genting Singapore is expected to sell Singapore dollar perpetual bonds after meeting investors this week, following successful deals from Singapore Post and Olam International that raised a combined S$625m ($498m) late last week.

Japanese conglomerate Mitsui & Co Ltd kept up the steady supply of longer-dated offshore renminbi bonds last week, raising Rmb500m ($79.4m) from its first foray into the dim sum debt market. But the issuer paid more on its five year notes than lower rated Baosteel Group.

The gap between economic growth, income levels and fiscal health both between and within Indian states appears to be growing, according to a Deutsche Bank report

The analysts' checklist of where the country needs to improve at state and national level shows how far India still needs to go

The Chinese government needs to encourage the use of renminbi for payments by other Asian countries if it wants the currency to reach the same level of internationalisation of the Japanese yen, says SWIFT.

Favourable basis swaps for borrowers who want to swap renminbi into US dollars is attracting new borrowers to the dim sum markets, investment banking debt specialists tell Asiamoney PLUS.