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Emerging Markets

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  • Emerging market investors are on edge, and rightfully so, as Turkey, Argentina and South Africa face up to serious economic problems. In Asia, that has triggered outflows — and risk aversion — from Indonesia, which is in a much stronger shape than its peers. But the volatility presents an opportune time to scrutinise the south-east Asian country closely.
  • Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.
  • Franklin Templeton, the California-based fixed income investment firm, has promoted Sonal Desai to chief investment officer.
  • Saudi Arabia has come to market for a long 10 year dollar sukuk bond, targeting $2bn, returning for a trade after five month’s absence from the bond market.
  • Owners of Barbados’ international bonds on Tuesday issued a scathing rebuke to the government’s restructuring process, in response to the island nation’s domestic debt exchange.
  • Al Hilal Bank (AHB) and Abu Dhabi Islamic Bank (ADIB) are on screens on Wednesday with dollar sukuk benchmarks — the first in a wave of Middle Eastern supply.