Northeast Asia

Haitong Securities filed a draft prospectus in Hong Kong on Wednesday for the spin off and listing of its leasing unit Haitong UniTrust. The IPO is expected to raise around $500m, according to a banker close to the deal.

Fantasia Holdings Group returned to the high yield bond market for the second time this month, but was forced to pay heavily for a $300m deal.

High yield bond spreads widened out this week as investors suffered from indigestion after heavy supply from Chinese issuers. The buy-side is now more eager than ever for investment grade issuers to hit the market. Morgan Davis reports.

Hong Kong Exchanges and Clearing (HKEX) and the Chinese Gold and Silver Exchange Society (CGSE) committed to building a “major gold and commodities trading centre in Asia Pacific” on Thursday.

Standard Chartered’s head of capital markets solutions Lesi Zuo is leaving the bank for a job in fintech, according to sources.

The Asia expat world is small, and in Hong Kong it is even smaller. Small enough that you often bump into someone you know at the supermarket. So it is not surprising that often people just want to enjoy some anonymity.

FIT Hon Teng opened books this week for its potential HK$3.0bn ($384.3m) IPO and found investors scrambling to get in.

Chinese property developer Modern Land (China) Co is making a comeback to the international green bond market, opening books for a short-term trade on Thursday morning.

The RMB regained its position as the sixth most used currency for payments globally in May, beating the Swiss franc to the title by a very narrow margin, according to Swift's RMB tracker. The Chinese currency accounted for 1.61% of all payments last month.

The entry of A-shares into MSCI’s emerging market index was quickly dismissed by China bears as a non-event, given the tiny weighting Chinese equities will have in the index. But sceptics should learn from history that small weightings often make a big difference to RMB internationalisation — and MSCI’s A-share inclusion might just be an example of that.

Shandong Ruyi Technology Group Co rattled over multiple speed bumps on its way to a $200m bond on Tuesday, having to navigate picky investors as well as concerns around cross-guarantee of bonds in China’s domestic market.

Hong Kong conglomerate Swire Pacific closed a $300m seven year bond on Tuesday, opting for a tight price over size with the debt-raising.