Hong Kong SAR

Barclays beat a hasty retreat this week from the bulk of its investment banking operations in Asia, shuttering offices in multiple countries and slashing hundreds of jobs amid a wider global cull in costs and personnel. It did not pull any punches, with the cuts stretching across the equities, loans and bonds products. John Loh reports.

The Hong Kong Stock Exchange plans to cement its position as the primary gateway between China and the rest of the world, after setting out a three-year strategic plan for 2016-2018.

The Hong Kong Stock Exchange has given Russian companies the nod to list depositary receipts on its main board.

Maybank is understood to be hiring the former head of Royal Bank of Scotland's Asian loans team in a senior position, according to two sources.

Citi’s Asia Pacific franchise posted a solid set of numbers in 2015, which regional CEO Francisco Aristeguieta is keen to continue in a volatile 2016, according to an internal memo seen by GlobalCapital Asia.

Barclays is pulling out of the cash equities business in Asia Pacific as the bank stages a total exit from a number of countries in the region including Taiwan and Korea.

Chinese conglomerate Wanda Group is planning a spate of listings for its myriad business divisions, starting with the IPO of its internet finance arm in three years, said its chairman Wang Jianlin.

Russian companies are now allowed to list depository receipts in Hong Kong, according to an announcement from the city’s stock exchange.

Postal Savings Bank of China is looking for as many as three sponsors for its jumbo $10bn-$15bn IPO, having called on banks to underwrite the deal, according to market sources.

A member of Citi’s Asia Pacific DCM syndicate team in Hong Kong has parted ways with the lender, sources close to the move have told GlobalCapital Asia.

The People’s Bank of China will impose reserve requirement ratio (RRR) on offshore RMB deposits starting from January 25, the central bank said on Monday. Many market participants reckon the move shows the determination of the PBoC to stabilise the renminbi.

China Railway Construction Corp has priced the first H-share convertible bond in Asia ex-Japan since 2007, raising $500m to get this year’s equity-linked market rolling.