China

Singapore’s central bank said this week it would issue Islamic notes in early 2009 as the city state joined the ranks of Asian nations targeting Shariah-compliant investment.

The Chinese bond market has recorded its busiest November on record, as another cut in domestic interest rates continues to spur demand for fixed income assets.

Malaysia’s central bank on Tuesday warned of further volatility in the country’s financial markets, leaving bankers divided as to the prospects for the ringgit bond

Asia’s local currency bond markets are set to grow in 2009 as investors continue to target low-risk assets, the Asian Development Bank said on Tuesday.

Grameenphone sold the first Bangladeshi private placement on Tuesday, in a deal that boosts the country’s capital markets in the face of worsening international conditions. The mobile phone company raised Tk4.25bn ($63m) in a dual-tranche deal, split between a Tk1.9bn ($28m) 18 month note and a Tk2.35bn ($34m) two year tranche, both paying 14.5%. Citi acted as the sole bookrunner on the deal, which was rated AAA by Credit Rating Agency of Bangladesh.

A trio of Thai issuers raised funds in the bond market this week, showing that, despite falling issuance, opportunities are still there for companies that need to fund. But after attracting foreign issuers earlier this year, the Thai baht market looks unlikely to tempt them back soon.