Asia Pacific

A new report claims that Taiwan has over a $100bn of hidden dollar reserves — more than enough for the US Treasury to classify the Asian country a currency manipulator if it wanted to. But given Taiwan’s strained relationship with China, the US might be prepared to look the other way

China’s Greater Bay Area has become a focus area for bankers, corporations and regulators. Ma Jun, one of China’s most prominent experts on green financing, thinks it could also become a green hub.

The Securities and Futures Commission’s chief executive officer Ashley Alder is set to step down in September next year.

Fullerton India has closed its $250m-equivalent borrowing after 14 participants joined the three bookrunners during syndication.

Chinese real estate company Kaisa Group Holdings chose to go down the 144A route for its latest bond, raising $400m from a deal that hit the higher end of its size expectations.

Sumitomo Mitsui Banking Corp is arranging non-deal roadshows for Indonesian car rental service provider CSM Corporatama.

China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.

Vedanta Resources has made a quick loan comeback for a $500m borrowing.

India oil refining and petrochemical company HPCL-Mittal Energy found support for its $300m bond sale on Tuesday, after offering investors a generous premium.

Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.

Genius Auto Finance will come back to the Chinese auto loan ABS market for a Rmb4bn ($564m) trade next week. That is the same size as its last deal, but the originator will scrap the mezzanine tranche this time around.

Hong Kong’s stock exchange has hired former employee Bonnie Y Chan as its new head of listing. She will start next year.