Hong Kong SAR

A special purpose vehicle under India’s Greenko Energy Holdings is ready to market a dollar green bond, while Hong Kong’s Castle Peak Power Company is looking to sell what it is calling an energy transition bond.

Standard Chartered’s Renminbi Globalisation Index fell to a 39-month low in May as the offshore renminbi (CNH) liquidity pool shrinks. But the bank said the index figures do not yet reflect China’s recent efforts to internationalise the renminbi, such the launch of Bond Connect.

An institutional investor bagged HK$2.1bn ($268.8m) after offloading a chunk of its shares in property firm China Vanke last Friday, taking advantage of a jump in the company’s share price.

China’s State Administration of Foreign Exchange (Safe) says the country will not devalue the renminbi, Hong Kong’s renminbi deposits fall in May, and China welcomes Japan to participate in One Belt One Road (OBOR).

Hong Kong Exchange (HKEX)’s chief executive Charles Li opened trading for the first RMB denominated gold futures contract on the exchange.

More banks now have the opportunity to join a HK$28bn ($3.6bn) financing to support the take-private of Hong Kong-listed footwear company Belle International Holdings, following a senior phase that attracted nine lenders.

Two shareholders pared down their stakes through separate block trades on Thursday as the stocks hit one-year highs, punctuating a relatively quiet week for overnight bookbuilds in Asia.

FIT Hon Teng has raised HK$2.67bn ($341.8m) after pricing its IPO near the midpoint of guidance following a flood of global demand, according to a banker close to the deal.

China’s FX reserves gained $3bn in June, the UK’s renminbi deposits grew in the first quarter of 2017, and China and Russia agreed to establish a joint investment fund for Belt and Road infrastructure projects.

Credit Suisse has hired a banker for its Asia Pacific loan syndications team in Hong Kong.

The launch of Bond Connect and MSCI’s A-share inclusion are prompting global investors to rebalance their portfolios towards renminbi bonds and equities. But although investors enjoy a handful of hedging tools in fixed income, they are hoping for more equity derivatives before adding A-share exposure.

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