Greater China

UBS is rejigging its Hong Kong-based corporate finance group (CFG) and its team of junior China-focused country bankers, affecting about 20 staff.

In this new Monday round-up from GlobalRMB, we bring you a collection of market and regulatory developments from the weekend as well as provide a preview of upcoming events this week.

The London RMB hub has been under threat from the Brexit vote, but China seems keen not to jump ship yet. The latest round of meetings have yielded a commitment to launching the long-promised London-Shanghai Stock Connect, the UK Treasury said on November 10.

Chinese local government financing vehicle Gansu Provincial Highway Aviation Tourism raised $500m on Thursday in the nearly silent, post-US election DCM market in Asia.

Adani Ports and Special Economic Zone, one of India’s largest port operators, is planning a comeback to the international bond market after more than a year.

It's now all Trump, all the time – especially for China. In this round-up, a recap of our top stories from an eventful week. In broader news, the RMB struggles against the dollar, China’s foreign exchange (FX) reserves hit new lows in October, and the Asian Infrastructure Investment Bank readies a seat at the table for Hong Kong.

Chinese local government financing vehicle Jiangsu Hanrui Investment Holdings opened a tap of its existing notes on Friday morning off the back of reverse anchor interest, keeping momentum going in the Asia DCM market post the US election.

Eight banks have joined a $150m three year bullet loan for Hesteel Hong Kong Corp, part of China’s Hesteel Group, thanks to confidence in the parent's credentials.

The US presidential election drove the Asian fixed income market to a near standstill this week and for most borrowers, Donald Trump’s victory has likely stalled plans for upcoming issuance. But Chinese property developers and local government financing vehicles, some of the names most desperate for funds, may keep the market moving for the rest of the year. Morgan Davis reports.

Asia’s equity capital markets recovered quickly in the wake of Donald Trump winning the White House, with most of the indices regaining their losses in Thursday’s trading. Primary issuance also took off, with some keen issuers pulling the trigger on their IPOs. Jonathan Breen reports.

Haitong International Securities Group will bring Haitong Securities India under its umbrella by acquiring the unit from its Portuguese affiliate. The move is part of the Hong Kong-based broker’s efforts to position itself as a boutique investment bank in Asia Pacific.

Citic Securities is consolidating its Hong Kong-based units to create a single platform for all its offshore businesses under the CLSA brand, with a committee being formed to complete the process within 12 months.