Asia Pacific

In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.

Chinese conglomerate HNA Group’s Hong Kong Airlines is in talks with lenders for a new borrowing, two loans bankers have told GlobalCapital Asia.

Kaisa Property Management Group, a subsidiary of Kaisa Holdings, is pushing ahead with its IPO, starting to gauge investor interest this week.

Sixteen months after receiving its Panda issuance quota, Sun Hung Kai Properties (SHK) raised Rmb1.2bn ($173m) from its debut deal, pulling off the cheapest two year Panda bond in 2018.

China Exchanges Services Co (CESC), a joint venture between the Hong Kong, Shanghai and Shenzhen bourses, has launched an index to track the performance of Hong Kong-listed biotechnology companies.

Well-known hedge fund manager says China reset coming, Bond Connect volumes down 15% in October and Singapore Exchange launches a set of China onshore bond indices.

The Belt and Road Initiative is still bankrolled by Chinese government spending, China and Singapore upgrade their trade agreement, and the Bank of England renews a currency swap line with China.

Thai Oil Public Co navigated challenges around fluctuating oil prices to push out a $1bn dual-tranche bond on Thursday that was strongly supported by investors.

The IPO plans of companies operating in the cryptocurrency sector are in limbo after Canaan, the world’s second largest maker of cryptocurrency mining equipment, let its IPO application on the Hong Kong Stock Exchange lapse on Thursday.

South Korea’s financial regulator has brought the hammer down on Samsung BioLogics, accusing it of intentionally overvaluing a subsidiary ahead of its W2.25tr ($2bn) IPO in late 2016.

Property developer Agile Group Holdings raised $400m from a two year bond at a generous level on Thursday. But the Chinese company is still faced with heavy near-term debt maturities.

Ma Jun, a member of the People’s Bank of China’s monetary policy committee, has come out in favour of altering bank capital rules to give lower risk weights for green assets — which could be a sign the PBoC is close to adopting the policy. He calls on China to lead the way and argues there is evidence green assets are less risky.