Hong Kong SAR

Is banking due its own #MeToo moment? So far, there have been few whistle blowers in this testosterone filled industry, perhaps suggesting either that banks are much less sexist than some might fear, or that there are still a lot of stories yet to surface.

A stunning rally in Innovent Biologics caught the market’s attention this week, after the shares surged as much as 46% following their debut in Hong Kong on Wednesday. But whether it marks a turning point for the city’s biotechnology listings — which have performed dismally in the secondary market so far — is less clear, writes John Loh.

Bank of America Merrill Lynch has promoted Jessica Li to head of healthcare investment banking for Asia.

Liaoning Chengda Biotechnology filed for a Hong Kong flotation on Tuesday through sponsors CLSA and GF Capital.

Clawback columnist Philippe Espinasse says the latest proposals by Hong Kong’s Law Society could spell bad news for international securities lawyers in the city.

Hong Kong equity investors may feel they need a break after a year of underperforming IPOs, sharp declines in valuations and protracted volatility. But don’t call time on the market just yet.

China Merchants Loscam has closed a $302m dual-currency club loan, making a comeback to the offshore market after a five-year absence.

Four mainland technology companies kicked off pre-deal investor education for their Hong Kong IPOs on Monday, gauging the market’s appetite ahead of bookbuilding in early November, according to sources close to the listings.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Collaboration between IHS Markit and ChinaBond aims to launch a series of indices to expand foreign access to $11tn Chinese onshore bond market.

Innovent Biologics, the fourth issuer to ride the wave of Hong Kong’s biotechnology IPOs, was so popular with institutional investors that allocations caused a headache, said bankers.

In this round-up, China Securities Regulatory Commission (CSRC) updates rules for asset management industry, more loosening measures include setting up bailout funds and more credits for private companies, and the China Banking Regulatory Commission issued draft rules to enhance foreign banks' business scope in China.