Hong Kong SAR

The Shenzhen-Hong Kong Stock Connect could herald a new dawn in opening up China’s capital account, but its impact on primary markets may only be limited, equity capital market bankers said this week.

Jilin Jiutai Rural Commercial Bank Corp has filed a Hong Kong IPO application via sole sponsor Guotai Junan International.

Citi has named Servaas Chorus as its new head of global capital management for Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

Australia and New Zealand Bank has appointed Raymond Yeung as chief economist for Greater China, which will see him leading the bank’s research team providing macroeconomic analysis for the region.

The Shenzhen-Hong Kong Stock Connect Scheme was officially given the go ahead by China’s State Council on Tuesday, with the Hong Kong Securities and Futures Commission (SFC) making the breakthrough announcement that the entire Stock Connect scheme will now operate without aggregate trading quotas. Exchange traded funds (ETFs) and derivatives are due to come in future expansions.

Commodities trader Noble Group is in the spotlight again after Fitch and Moody's published divergent ratings on Monday. Fitch took a more benign view on Noble, but Moody's downgraded it to B2 from Ba3 with a negative outlook.

Richard Mo has taken up the newly created position of head of China business at Old Mutual Global Investors.

China Aircraft Leasing Group sealed a $300m five year deal on Monday off the back of a $1.2bn order book, making a swift yet successful comeback just four months after its last trade.

Doosan Bobcat has received regulatory approval for its IPO in South Korea, putting it on track to open books in September.

Hong Kong Exchange, through its subsidiary OTC Clear, has launched a clearing service for cross-currency swaps, beginning with the dollar/offshore renminbi currency pair.

China Aircraft Leasing Group returned for a new dollar-denominated bond on Monday, less than four months after its inaugural appearance in the G3 debt market.

Everbright Securities has priced its Hong Kong IPO in the upper half of the marketing range, raising HK$8.62bn ($1.11bn).