Asia Pacific

The Tianjin government’s waning support for local corporations was brought into focus this week, when Fitch downgraded Chinese dollar bond issuer Tewoo Group by a hefty six notches. It was the latest warning sign of the debt-servicing ability of the city’s struggling state-owned enterprises (SOEs). Addison Gong reports.

Two Indonesian auto finance companies, Indomobil Finance Indonesia and Chandra Sakti Utama Leasing (CSUL), have returned to the offshore loan market.

I remember a time when dressing in casual clothes was something that horrified bankers, not excited them. Not anymore.

S&P upgraded the Philippines’ rating to BBB+ from BBB on April 30, as the sovereign conducted a roadshow for a proposed euro bond.

The Securities & Exchange Board of India (Sebi) dealt a fresh blow to India’s National Stock Exchange’s long-delayed IPO plans this week.

Software company Kingsoft Corp plans to spin off and list Beijing Office Software on Shanghai’s new technology board, pulling its initial plan to float the subsidiary on the Shenzhen Stock Exchange’s junior ChiNext board.

China’s Yingde Gases Group has received a strong response in the loan market for its $300m three year facility.

Components manufacturer Impro Precision Industries this week began its third attempt to float on the Hong Kong Stock Exchange.

Greg Guyett has shaken up the management of HSBC’s global banking division in a move aimed at streamlining coverage and boosting collaboration across divisions and products.

A year ago, Hong Kong’s stock exchange (HKEX) added a new chapter to its regulations, allowing pre-revenue biotechnology companies to list. The historic move has turned the city into the biotech IPO hub of Asia. But its fortune could change if the Mainland’s new Nasdaq-style Shanghai tech board, which offers similar pre-revenue concessions, stems the flow of its primarily Chinese issuers.

China made big strides developing its green bond market last year, moving closer to international standards and producing a volume of issuance that placed it only behind the United States. But this year, the market has gone backwards. What has happened to Chinese green bond issuance?

The first batch of seven funds looking to invest in the new Shanghai tech board saw a total of more than Rmb100bn ($14.8bn) coming in on the first day they opened books.