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We have all read research from bankers and academics on China, WTO and the equity markets. But what do the companies themselves think – those with direct experience of the equity markets in China, Hong Kong and overseas? To find out, Asiamoney and BNP Paribas Peregrine co-hosted a roundtable, held in Hong Kong but conducted in mandarin, entitled China Equity Markets – the Choice of Listing Avenues. Hosted by Pauline Loong, translated and compiled by Joy Lee.

Arun Shourie, for many years one of India's most celebrated journalists, is minister for disinvestment. He has the job of turning India's flagging privatization programme into a success, with 27 businesses targeted for sale in the coming year. It's no easy task. Until this year only one sale had taken place – of bread company Modern Foods to Hindustan Lever, for US$70 million. The only transaction to go through this year – the sale of a majority stake in aluminium company Balco to Sterlite Industries – has been mired in controversy and union action. He spoke to Asiamoney.

Lunch hour with Hong Kong's new finance chief involves drinking water, discovers Pauline Loong. It seems that these days Antony Leung has more on his mind – and plate – than food.

Intrigue has engulfed the meteoric rise and spectacular fall of Australia's HIH Insurance. How was it allowed to happen, and what happens now? Bina Brown reports.

Intrigue has engulfed the meteoric rise and spectacular fall of Australia's HIH Insurance. How was it allowed to happen, and what happens now? Bina Brown reports.

China's securities advisor Anthony Neoh is seen as a significant figure in the country's big leap forward towards a 21st century securities industry. In an interview with Asiamoney's Pauline Loong he recounts some of his personal views on the changes needed in the Chinese capital markets, and hints at initiatives that are being discussed in official circles.

China's securities advisor Anthony Neoh is seen as a significant figure in the country's big leap forward towards a 21st century securities industry. In an interview with Asiamoney's Pauline Loong he recounts some of his personal views on the changes needed in the Chinese capital markets, and hints at initiatives that are being discussed in official circles.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Waddell & Reed Investment Management Co., a money management firm in Kansas City, Kan., is looking to add 5% ($28.5 million) to the MBS allocation in its $575 Waddell & Reed Advisors Bond fund, assuming further steepening in the yield curve.

Chandler Asset Management, a $1.2 billion San Diego-based money manager, plans to sell some $120 million in U.S. agencies and possibly some double- and triple-A rated corporates in favor of slightly lower-rated financial paper. Portfolio manager Martin Cassell says that as the economic picture slowly improves, he will look to pick up some yield on names that have been beaten up as of late. Though many managers have already begun to move down the credit ladder, Cassell says he wants clear indications of a turnaround before implementing his strategy. He is looking for signs such as a stabilization in jobless claims and for spreads on two- to 10-year treasuries to widen to about 140 basis points before beginning a gradual shift down the ladder over a period of a month or two. As of Tuesday last week, this spread was 121 basis points.

Christian Noyes, a high-yield portfolio manager with Penn Capital Management, is repositioning the firms high-yield portfolio by moving down the credit curve. The move is designed to take advantage of what Noyes sees as a prolonged period of spread tightening for select high-yield credits, as well as the anticipation that an economic recovery is impending. Noyes predicts an upswing for the high-yield sector for two reasons. First, the normalization of the yield curve brings a positive carry on holding inventory, which leads to more liquidity and less risk perception in the market. Secondly, there have been consistent cash flows into the high yield sector since the year began.