Asia Pacific

Hong Kong’s mortgage financing provider Lei Shing Hong Credit has returned to the offshore loan market for a $300m three year borrowing.

Bank of China becomes the RMB clearing bank for a financial centre in Malaysia, a Chinese credit rating agency is in trouble with two regulators after breaching rules in the exchange and interbank bond markets, and the People’s Bank of China reportedly blocks RMB flowing out of free trade zones (FTZs).

Morgan Stanley’s Alex Abagian has been named as a co-head of Asia Pacific equity capital markets, according to people familiar with the matter.

Dagong Global Credit Rating, one of China’s largest credit rating agencies, has been banned from rating bonds in the interbank market for one year because it was providing consulting services to companies as it was rating them, the National Association of Financial Market Institutional Investors (Nafmii) announced today.

Taiwan’s Paiho Shih Holdings has returned to the offshore loan market, seeking a $120m refinancing loan through KGI Bank.

The asset management arm of JP Morgan targets the private fund market in the mainland, China downsizes holdings of US Treasuries in June, and the Singapore Exchange (SGX) sets a new single-day trading record for USDCNH futures contracts.

Regulator allows foreign nationals in China to buy A-shares, Beijing and Washington walk back to the negotiation table, and the Chinese finance ministry guides local governments to borrow and spend on infrastructure in the third quarter.

KBS Realty Advisors is preparing to float its second Reit in Singapore backed by US commercial properties, bankers close to the deal said.

Oversea-Chinese Banking Corp (OCBC) reopened Singapore’s additional tier one market this week, managing to raise S$1bn ($726.87m) from the first such deal in 14 months.

Chinese mobile internet company CooTek is planning a $100m IPO of American Depository Shares (ADS), according to a draft prospectus filed with the US Securities and Exchange Commission on Thursday.

Integrated online healthcare provider 111 filed draft documents on Wednesday for a potential $200m issue of American Depository Shares (ADS).

China’s answer to Tesla is set to make a splash with its New York IPO. Nio is preparing a multibillion-dollar listing that will test investor appetite for the booming electric car industry. John Loh reports.