Hong Kong SAR

In this round-up, Hong Kong RMB clearing dropped in September, Macau's RMB deposits and cross-border settlement also fell in July, South Korea's RMB deposits kept contracting in September, and Bank of China Budapest branch formally launched RMB clearing services.

Singapore Exchange (SGX) is looking to replicate the success of companies CME Group, Deutsche Bourse and the London Stock Exchange Group in evolving the indexing business, as passive investing gains popularity in Asia.

Japan Post sets sail with IPOs — Datang Environment files in HK — Banpu Power eyes Thai float — Larsen & Toubro seeks $300m listing

The Islamic finance market is looking to welcome its first Chinese participant after Country Garden Holdings this week announced plans to issue a Murabahah sukuk. But the property developer’s currency of choice — the ringgit — suggests that plenty of work is needed for sukuk to gain traction in north Asia, writes Rev Hui.

The Chinese and Hong Kong equity capital markets are stirring back to life after the turmoil of the summer, with a pair of IPOs enjoying strong debuts this week. No one is calling a recovery yet, but bankers are keeping their fingers crossed that the fourth quarter will offer a good window to push through deals, writes John Loh.

Standard Chartered has reorganised its capital markets operations, splitting its DCM and loan syndications units. Coinciding with the rejig is the departure of Aaron Russell-Davison as the head of debt capital markets, with more changes expected to take place.

Hong Kong Exchanges and Clearing (HKEx) has pulled the plug on its campaign to allow weighted voting rights (WVRs), bowing to pressure from the city’s securities regulator.

The Asia Securities Industry & Financial Markets Association (Asifma) has picked Gene Kim as its new chairman of the board of directors.

A senior member of Mizuho’s international acquisition finance team for Asia has left the bank.

The Japan Post group has announced price ranges for the long-awaited IPOs of its three units, set to collectively raise ¥1.44tr ($12.03bn) to become the biggest offering this century in the country.

Credit Suisse has made two senior hires in Hong Kong, poaching them from rivals Standard Chartered and Morgan Stanley.

The days of the renminbi as a stable currency with high investment yields are gone, but this is good in the long run for banks that want to have a healthier CNH balance sheet, says Andrew Fung, executive director and head of global banking and markets at Hang Seng Bank.