Asia Pacific

RMB assets remain unpopular as a result of policy uncertainty and the country’s trade surplus, said market participants at the HKEX RMB Fixed Income and Currency conference on Tuesday, who reckoned this shortfall is limiting the potential of RMB internationalisation.

Shares of China Resources Cement Holdings tumbled at the open on Tuesday following an overnight equity block trade that was done at a 10% discount and raised HK$4.2bn ($533.4m).

China Railway Construction Corp’s board has approved the spin-off of its heavy industry arm through an IPO in Hong Kong.

BNP Paribas’s Singapore chief executive officer is relocating to the US to take up a new position within the bank, according to sources.

Credit Suisse has appointed Felicity Chan to lead its equity syndicate team in southeast Asia, while promoting Yvonne Voon to head of real estate coverage for the region.

Hong Kong Exchanges and Clearing (HKEX) is planning to formally re-launch a futures contract for Chinese treasury bonds (T-bond), after piloting the product last year, Charles Li, chief executive of the bourse, told the HKEX’s RMB Fixed Income and Currency Conference on Tuesday.

The Asian debt market is set for a modest week in terms of primary issuance volume, as more borrowers continue to engage with investors even after completing roadshows.

CCB International, a subsidiary of China Construction Bank Corp, has returned to the offshore loan market after a three-year absence for a $500m deal.

For all the talk of a deluge of tech IPOs soon hitting the Asian (and especially Hong Kong) markets, the performance of new listings and investor appetite there both remain decidedly subdued, writes Clawback columnist Philippe Espinasse.

Philippine property developer DM Wenceslao & Associates has raised Ps8.5bn after pricing its IPO on the back of strong demand from domestic funds.

Citi has named Kelvin Goh as head of FIG insurance, Asia Pacific investment banking, and head of corporate finance for Singapore, according to a memo seen by GlobalCapital Asia.

Deutsche Bank is losing its head of Asia equity-linked business, with Keyvan Zolfaghari set to leave the firm for Goldman Sachs.