Northeast Asia

JP Morgan has hired veteran banker Yuka Uehara to its Japan equity capital markets team, and brought on Jinsoo Ha to lead ECM in South Korea, according to an internal memo seen by GlobalCapital Asia.

German carmaker Daimler wrapped up a Rmb5bn ($710m) two tranche private placement Panda bond on Wednesday. Returning to the market after eight months, the Panda bond regular drove through turbulence.

As the market digests news of the weaker renminbi, which broke seven against the dollar for the first time since the financial crisis on Monday, analysts are predicting that a new equilibrium for the currency will emerge. Rebecca Feng reports.

The Hong Kong, Shanghai and Shenzhen stock exchanges have agreed to include Hong Kong listed dual-class shares in the Stock Connect trading programme. This could just be what the HKEX’s two lonely weighted voting rights (WVRs) stocks, Xiaomi Corp and Meituan Dianping, need, said bankers and analysts. Jonathan Breen reports.

Rising tensions between the US and China, coupled with a mass strike in Hong Kong at the start of the week, caused a sell-off not just in the city’s stocks market but also across Asian bonds. While sentiment has recovered slowly, the market turbulence is set to keep equity and bond bankers on their toes. Jonathan Breen, Morgan Davis and Addison Gong report.

Beijing Automotive Group (BAIC) has thrown open a €2.2bn-equivalent loan to support its acquisition of a minority stake in German automaker Daimler.

As a banker, it is always ideal to be the first in whatever we do.

China Construction Bank had no trouble selling a Rmb9.87bn ($1.4bn) residential mortgage backed securities deal on Tuesday amid rising trade concerns, thanks to support from its underwriter group.

The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.

Credit Suisse's head of Greater China debt capital markets has quit the bank, according to sources.

Korea’s Financial Conduct Authority has supported the covered bond market this year with a series of new measures that aim to stimulate demand and supply. Its actions should promote local currency issuance, building on this year’s strong start.

Chinese biotechnology company Venus Medtech (Huangzhou) is seeking approval to list in Hong Kong, having filed a draft prospectus with the city’s bourse on Monday.