Asia Pacific

The central bank chief says competition from international institutions is key to improving the Chinese financial sector, the securities watchdog says the first China Depository Receipts (CDRs) will launch soon, and the Ministry of Commerce tells the US to hold back from taxing $50bn of Chinese goods.

Investors flocked to Korea Western Power Co’s (Kowepo) $300m bond issuance on Thursday, finding a safe haven in the government supported credit.

Del Monte Philippines has kicked off bookbuilding for an up to Ps17.6bn ($334.5m) IPO after winning approval from the country's stock exchange on Wednesday.

Bank of China offered something exciting to the debt market on Thursday by selling green bonds as well as the first sustainability note from a Chinese issuer.

The gravity in the relationship between Hong Kong and China’s financial markets has unquestionably shifted north in the past two decades. But instead of fearing competition, Hong Kong should embrace this change and build on its leading role in offshore RMB business, senior financial regulatory officials told a forum at the Hong Kong Stock Exchange on Friday.

Midea Real Estate Holding filed for an IPO in Hong Kong on Thursday that could raise upwards of $1bn, according to a banker on the deal.

Singapore Exchange suffered an unfavourable twist in its Indian futures saga this week, when the Bombay High Court granted an injunction on new derivatives contracts that it had planned to launch next week. But one exchange’s misfortune might be a large asset manager’s opportunity.

The Swiss franc bond market showed this week that it is well insulated from the turmoil affecting the euro market as South Korea’s Hyundai Capital raised Sfr300m from a tightly priced five year bond. With cross-currency basis swaps coming down, and low new issue premiums, Zurich-based bankers are keen to showcase the pricing competitiveness as well as the stability of their market.

China Development Bank has dashed the hopes of bidders for a $1bn loan to the Sri Lankan sovereign, clinching the mandate on a sole basis by offering an eight year facility, writes Pan Yue.

A topsy-turvy market backdrop is pushing a slew of Chinese borrowers, mainly property companies, to raise funds by tapping their existing dollar bonds. Buy side interest remains, but only for the right names, writes Addison Gong.

UBS, HSBC make ECM hires — JP Morgan adds Macquarie veteran to IB team — DCM changes at Natixis and StanChart — ABN Amro beefs up transportation and logistics biz — Kim joins HSBC Korea

The parent of Thailand’s VGI Global Media bagged Bt3.5bn ($110m) from a larger-than-expected overnight share sale on Wednesday.