Northeast Asia

Bank of America Merrill Lynch has appointed Izumi Devalier as head of Japan economics, poaching her from HSBC in Hong Kong.

Yunnan Water Hong Kong Co, an affiliate of Chinese provincial government backed Yunnan Water, has capped its latest borrowing at $130m despite having sought $150m originally.

In this round-up, China is open to free trade agreement talks with the UK, China Foreign Exchange Trade System sees its RMB index recover, and China Taiping Insurance Group is set to venture into the domestic mutual fund market. Plus, a recap of GlobalRMB’s top stories this week.

Hong Kong-listed United Energy Group is planning a rights issue of at least 13.08bn shares to raise a potential HK$2.6bn ($335.2m), according to a filing.

South Korea’s Nonghyup Bank is looking to reach out to international investors for the first time this year, having hired banks to work on a 144A trade.

It was a tale of two interventions this week, as Japan underwhelmed markets with its stimulus plan while the Bank of England delivered more than expected, in moves that also sent the yen and pound reeling in different directions.

Orlando Faulks has been appointed head of corporate finance for Japan at Deutsche Bank starting November, as Ken Kawashima plans to go back to his previous job.

HSBC’s Asia business accounted for a higher share of the bank’s earnings during the first half of the year, as the bank continues to develop its business in the region.

China is continuing its push for reforms to its FX market with the establishment of a self-regulating committee that authorities say will give market participants more sway over renminbi reference rates.

The South Korean regulator is looking to give securities firms a helping hand with their investment banking businesses, unveiling a series of measures on Tuesday.

Beijing Enterprises Water Group (BEWG) added to its portfolio of Panda bonds less than a week after its debut in the asset class, sealing a Rmb700m ($106m) return on Monday. Instead of trotting down a similar path as it did with its maiden appearance, the red chip firm has sold the first green Panda.

GlobalCapital is pleased to announce the preliminary shortlist of nominees for its Global Derivatives Awards 2016. Nominations are based upon market feedback and research conducted in recent months. Winners will be unveiled at a gala dinner in London in September.