Greater China

Malaysia’s Eco World International, which is planning a $500m IPO, will stick to its timeline for opening books in the third quarter of this year despite the risk of contagion from Brexit.

Today the PBOC fixed the yuan at its weakest level since 2010, causing short-end underperformance as offers drove 5-year NDIRS lower. One source said the resultant curve flatness should dampen further receiving interest in the belly, writes Deirdre Yeung of Total Derivatives.

China Logistics Property (CLP) has opted to delay the launch of its $400m-$500m IPO in Hong Kong to Wednesday from following Britain’s decision to leave the European Union.

The UK’s shock decision to leave the European Union has left most of Asia reeling with the region’s major currencies and stock indices all coming under severe pressure. But if there is one country that can handle the negativity better than the others, it will be China.

Brexit is here, and so is our round-up! This week: Fullgoal Asset Management launches its first RMB ETF in Europe, the Hong Kong Exchange runs further Shenzhen Connect testing, and China announces direct trading of the RMB against the Korean won. Plus, a recap of our coverage this week.

Jiangsu Hanrui Investment Holdings defied the quietness in Asia’s primary capital markets on Thursday with a rare high yield bond from a local government financing vehicle. Although market observers welcome growth in the new asset class, some are cautious about the standalone credit strength of smaller LGFVs.

Japan’s Honma Golf is planning a Hong Kong IPO under sole sponsor Morgan Stanley, according to its draft prospectus.

Hengdeli Holdings and eSun Holdings have announced the results of their respective tender offers for international bonds.

Pacific Basin Shipping has closed its HK$1.2bn ($150.6m) rights issue with a hefty 10x oversubscription, the company said in a filing with the Hong Kong exchange.

The People’s Bank of China said on Tuesday it is contemplating the ‘orderly participation’ of commercial banks to trade in the offshore renminbi market. On paper, the proposed move seems to be a further opening up of its FX market. However, market participants say Beijing’s true aim is to exert greater influence on the CNH and maintain the stability of the renminbi.

Rici Healthcare Holdings kicked off pre-marketing for its up to $200m listing in Hong Kong on Thursday, according to bankers.

I can think of some bulge bracket MDs who I’m sure have dreamt of dishing out a spot of corporal punishment to discipline wayward juniors. For them, however, the idea is just that — an idea that would never see the light of day.