Northeast Asia

Chinese regulators should simplify market access to attract capital inflows, Asia Securities Industry & Financial Markets Association (Asifma) has said. In a report published on Wednesday, the industry body argued that the current arrangement is too complex, unfair to long-term foreign investors and discourages prospective investors.

South Korea’s Shinhan Bank secured a tightly priced $500m deal on Tuesday, taking advantage of an otherwise quiet market as well as the Monday success of Korea National Oil Corp.

Huarong Investment Stock Corp is in the market for a HK$3bn ($386m) dual currency syndicated term loan with Credit Suisse at the helm.

Raymond Li has joined Bank of Tokyo-Mitsubishi UFJ as its new head of financial institutions for east Asia, jumping ship from BNP Paribas.

Hong Kong-listed Fosun International is set to return to the syndicated loan market to refinance a $800m deal raised two years ago, according to a banker.

Chinese company Anta Sports Products raised HK$3.79bn ($487.9m) from a top-up share placement on Tuesday, but saw its shares plummet in the aftermarket on the back of poor performance in US markets overnight.

China Zheshang Bank Co is out with its maiden international additional tier one, while Xinjiang Guanghui Industry Investment (Group) Co, the largest shareholder in China Grand Auto, is prepping for its offshore debut.

Kunming Dianchi Water Treatment Co has started pre-deal investor education for a Hong Kong IPO that could raise $200m, according to a source close to the transaction.

Korea National Oil Corp (KNOC) took advantage of the positive market on Monday to price three $500m tranches of new notes at an attractive price, while still offering investors some cushion on the fixed rate portions.

Shandong Yuhuang Chemical Co sealed an inaugural international bond on Monday, finding sufficient demand thanks to a conducive market backdrop, coupled with the rarity factor of being a Chinese non-property name raising funds.

The performance of the Asia bond market over the past couple of weeks, despite the macro moves elsewhere, has shown that it can drive forward independently of events in the west. With European and US political volatility waiting in the wings, Asian DCM’s self-sufficiency bodes well.

The Hong Kong Stock Exchange (HKEX) launched USDCNH options on March 20, the first currency options to trade on the exchange. Together with HKEX’s USDCNH futures contract, the new product will give investors an alternative in managing renminbi exposure.