Northeast Asia

Fixed income fund managers have welcomed the recent move by PBoC to allow them into the onshore FX derivatives market, but a few more tweaks to the regulation will help give Beijing what it really craves: a surge in capital inflows to the onshore bond market.

A1/A+/A- rated KEB Hana Bank is eyeing to return to the international debt market with a 144A/Reg S transaction, having hired seven firms to arrange a global roadshow.

ING Life Insurance Korea has secured the OK from Korea Exchange to list through an IPO, according to a KRX announcement.

Morgan Stanley chose one of its own to take over the role of head of fixed income for Asia ex-Japan, a spokesperson at the bank confirmed.

PBoC signals further opening up of China’s bond market and promises further bond market reform, and the China Securities Regulatory Commission (CSRC) exposes the first cross-border Stock Connect manipulation case.

Insurance firm AIA Group’s chief executive Mark Tucker is to succeed Douglas Flint as chairman of HSBC.

Lenovo Group priced a five year fixed bond and a subordinated perpetual non call five in a soft market on Thursday and on the back of disappointing third quarter results. But investors shrugged off any concerns and poured into the transaction.

Chinese high yield names Kangde Xin Composite Material Group and KWG Property priced new dollar deals against a weakening market backdrop on Thursday, forcing the pair to adjust their expectations in order to get ahead of an interest rate hike.

In this round-up, the State Administration of Foreign Exchange (Safe) says it expects China’s foreign reserves to grow gradually despite global volatilities, PBoC’s dollar fix remains pretty much unchanged from the previous day and the Shanghai Free Trade Zone will open up the financial sector to more foreign investment.

Nomura has reshaped the management team of its wholesale division, which includes investment banking and markets. Former co-head of wholesale Kentaro Okuda will become regional head for Americas, while Minoru Shinohara, executive chairman in EMEA, becomes co-head of wholesale, relocating from London to Tokyo.

HSBC has appointed a new head of leveraged and acquisition finance for Asia Pacific, transferring James Horsburgh from London as part of a shake-up of the business.

I am a man of simple pleasures these days, happy to sit in my local with a pint of ale watching football — or if I’m catching up with some chums, a glass of whisky.