Northeast Asia

MSCI has poached Tay Kim from Franklin Templeton Investment Trust Management to lead client coverage for the firm in South Korea.

Biopharmaceutical company Mabpharm has launched the deal roadshow for its IPO and is targeting proceeds of up to HK$1.53bn ($194.7m).

In this round up, China’s foreign minister talked to Mike Pompeo on Saturday, HiSilicon launched ‘extreme survival contingency plan’ and the Chinese central bank told reporters it would keep renminbi rate reasonable

Mongolian conglomerate Tavan Bogd Trade pulled its debut dollar bond transaction on Thursday after the order book was closed. The high yield borrower had offered investors 12% for the three year bullet, but ultimately decided to postpone the final sale.

The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.

In this round up, trade tension carried on intensifying as both sides rolled out more punitive moves, the People’s Bank of China and the Monetary Authority of Singapore signed a three year currency swap agreement and April’s industrial production and retail sales growth declined.

The market welcomed a dose of investment grade rated corporate and financial supply on Thursday. State-owned enterprise (SOE) Shougang Group saw its bond rally in the aftermarket, while onshore brokerage Huatai Securities and China Ping An Insurance Overseas also managed to price deals tightly.

Chinese solar farm group Xinyi Energy Holdings has faced minimal impact from the ongoing US-China trade war as it nears the end of bookbuilding for a HK$4.4bn ($564m) IPO on the Hong Kong Stock Exchange.

Luckin Coffee has raised $561m from its Nasdaq listing after boosting the size of the original American Depository Shares (ADS) offer and closing the deal a day early, according to a banker on the mandate.

The European Investment Bank (EIB) has moved its new Climate Awareness Bond (CAB) documentation beyond the eurozone with the sale of a Polish zloty bond to a single Japanese investor.

The Republic of the Philippines made a triumphant return to the Panda bond market this week, raising Rmb2.5bn ($363m) from a deal that was tighter and larger than its debut last year. Rebecca Feng reports.

The latest chapter in the US-China trade war resulted in some serious market turmoil this month. But Hong Kong seems to have avoided the worst of the volatility: the city’s stock exchange approved four applications and each issuer has hit the road. Will investors bite? Gina Lee and Jonathan Breen report.