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Asia’s brokerages have needed to stay nimble in the face of volatile markets and changing regulation that has tested their industry. HSBC and CLSA are well placed to meet the challenge after coming out top in the Asiamoney Brokers Poll. Peter McGill reports.

Analysts in Asia are used to dealing with dynamic and unpredictable markets but the events of this year provided a real test of mettle. Against a backdrop of global political upheaval and worsening economic outlook at home, the winners of Asiamoney’s 2016 Brokers Poll have proved they have what it takes to impress their clients.

It has been another testing year for banks in the Middle East. A strengthening dollar abroad, pallid economic growth at home and political instability still flaring around the region have hampered expansion plans and put a squeeze on profits. But some banks have weathered this storm well and have proven once again how resilient the Middle Eastern banking market really is. To recognise the outstanding performances of these institutions, Asiamoney is pleased to announce the winners of our awards for best banks in the Middle East 2016.

Mark Twain supposedly said: “I’m great at quitting smoking. I’ve done it a thousand times.” One could say much the same about UniCredit and new strategic plans, though this time, perhaps it’ll stub out the filthiest parts of its loan book for good.

Most ECM practitioners in Asia are set to end 2016 not with a bang but a whimper. But even after such a volatile year, they are heading into 2017 with a rosier view of the market. Given the topsy turvy events of this year, the better strategy would be to err on the side of caution.

You can’t fault Credit Suisse’s determination, or at least, that of its chief executive, Tidjane Thiam. But each time he sets a tougher target, the world gets tougher still.

Last week began with a cheery festive glow but soon changed to a cold chill once discussion turned to the challenges facing the market in 2017.

A busy weekend for Chinese authorities as seven new currencies were named to be traded directly with the renminbi, the dollar fix breaks 6.9 again on Monday, and a clearing bank is appointed in Dubai.

In this round-up, China saw another sizeable drop to its foreign exchange reserves in November, the Shenzhen Connect saw subdued trading activity in its first four days, and Egypt signed its first currency swap line with China. Plus, a recap of our coverage this week.

It doesn’t take a genius to work out that Greece needs real debt relief if it is ever to return to stability, nor that European leaders are afraid of providing it ahead of a busy election calendar for next year.

It’s well known that bankers can be a boozy lot, be it when they are schmoozing clients or when simply letting off steam after pulling an all-nighter. But fund managers are no better, if one friend’s firm is anything to go by — it almost seems to encourage such behaviour.

Or so the saying goes. Not in China, it seems. Breaking the news that a bulge bracket firm in Hong Kong is suing a Chinese SOE client for non-payment of fees, our columnist Clawback says doing business in China is now little more than a league table exercise.