Northeast Asia

IMF data shows the renminbi saw a nearly 40% jump in global foreign exchange reserves in Q2, the US Treasury introduced interim rules to monitor Chinese investment in US firms, and the US Treasury is also likely set to name China a currency manipulator as early as next week.

China Fortune Land Development Co added $70m to its existing 2020 bonds in a quick tap this week.

The Ministry of Finance (MoF) second offshore RMB (CNH) auction in 2018 raised Rmb5bn ($720m) on Wednesday. Despite recent RMB depreciation, the demand for CNH bonds remains, albeit in modest amounts.

Sumitomo Mitsui Banking Corporation (SMBC) has mandated leads to roadshow the first ever Japanese covered bond. The RMBS-backed deal is expected to appeal to a broad universe of traditional investors and will set the tone for Japanese megabanks and other borrowers in what could be a rich supply vein for covered bond investors.

Dafa Properties Group raised HK$840m ($107.2m) when it priced a Hong Kong IPO a few cents above the middle of the marketed range this week.

China’s Niu Technologies has launched bookbuilding for a $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources said they did not expect the trade to be a blowout.

Hong Kong’s IPO sponsors are in the spotlight again after the top enforcer at the city’s regulator called them out for poor work this week.

Yuexiu Real Estate Investment Trust, a subsidiary of Yuexiu Property Co, is tapping the offshore market for a HK$2.8bn ($357m) loan.

With its latest dollar bond, China's Ministry of Finance may have demonstrated the sovereign’s market access and its credit strength even in a hostile trade environment, but a potential repricing of the China state-owned enterprises (SOEs) curve still seems unlikely, writes Addison Gong.

It never ceases to amaze me how much the world has changed since I started my banking career. Today it seems like there is so little you can get away with. What was once a quirk has become a personality flaw.

Four Chinese state-owned enterprises (SOEs) were out in the dollar bond market on Wednesday, looking to seal trades ahead of a China sovereign bond sale on Thursday. But the volatility in the market presented a short-lived opportunity for debt sales and the borrowers’ new notes all slumped in the secondary market.

Hong Kong-listed Logan Property is making a quick return to the offshore loan market for a HK$1.2bn ($153m) borrowing, six months after sealing a HK$900m deal in April.