Northeast Asia

Asia’s primary bond market was quiet for the second day in a row on Tuesday, as investors continued to remain wary about rising tensions between the US and China.

Hong Kong-based AMTD International's stock surged by over 20% on its debut on the New York Stock Exchange, after the IPO was priced above the mid-point of guidance.

John Flint quit his position as CEO of HSBC on Monday after less than two years in the job, as the bank warned of difficult global conditions in its second quarter results. The bank’s chair Mark Tucker implied the desire for change related to a problem with Flint’s execution of the bank’s strategy, rather than the strategy itself, but the departure has also raised questions about HSBC’s Chinese operations.

The renminbi fell beyond seven against the dollar on Monday morning for the first time in a decade, in what is viewed as China’s response to its worsening relations with the US.

China Lesso Group Holding has launched a $900m four year borrowing into general syndication.

Hong Kong’s Hang Seng Index (HSI) fell by nearly 3% on Monday as a mass strike gripped the city, bringing chaos to public transport and local infrastructure.

The Republic of the Philippines took advantage of Japanese investors’ hunger for yield with a tightly priced four-tranche ¥92bn ($863.4m) Samurai bond.

In this round-up, the renminbi dropped below seven per US dollar for the first time since the global financial crisis, Hong Kong-listed companies with weighted voting rights are set to be included in the Stock Connect and regulators will score securities houses based on their ability to manage public opinion.

Global equity indices plummeted on Friday morning after US president Donald Trump announced that the US would tax $300bn of Chinese goods in a fresh round off tariffs.

Central China Real Estate and Shandong Chenming Paper Holdings have raised a combined $463m from dollar bond investors amid a weak market backdrop.

New Frontier Corp, a Hong Kong-based special purpose acquisition company (Spac), is planning to raise $300m-equivalent to support its $1.44bn purchase of China’s United Family Healthcare.

JP Morgan has bagged $400m from a rare cash-settled exchangeable bond, with Tencent Holdings as the reference stock, according to a source close to the deal.