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  • John Flint quit his position as CEO of HSBC on Monday after less than two years in the job, as the bank warned of difficult global conditions in its second quarter results. The bank’s chair Mark Tucker implied the desire for change related to a problem with Flint’s execution of the bank’s strategy, rather than the strategy itself, but the departure has also raised questions about HSBC’s Chinese operations.
  • Corporate borrowing activity is expected to be sustained throughout the second half of the year as borrowers "take advantage" of the liquidity in the loan market. The expectation comes in the aftermath of two large dividend recapitalisation transactions by Polish corporates, Allegro and Żabka, in the second quarter.
  • Indian microloan provider Spandana Sphoorty Financial kicked off a two-day bookbuilding for its up to Rp12.01bn ($169.9m) IPO on Monday morning.
  • The renminbi fell beyond seven against the dollar on Monday morning for the first time in a decade, in what is viewed as China’s response to its worsening relations with the US.
  • China Lesso Group Holding has launched a $900m four year borrowing into general syndication.
  • Hong Kong’s Hang Seng Index (HSI) fell by nearly 3% on Monday as a mass strike gripped the city, bringing chaos to public transport and local infrastructure.