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The euro has been in place for 18 months. And how many issues have there been from Asian credits? Four. Is the euro destined to be a non-event for Asian issuers, or are we about to see a wave of new deals?

Indian tech stocks were badly burned in the Nasdaq crash, but that may prove a blessing in disguise. It's rid the market of weak players, corrected over-inflated valuations and led to a greater focus on the real reason behind India's revival – its solid reputation as a software specialist. Saibal Dasgupta separates the winners from the losers.

Competition between Japan's two new boards is hotting up. But other than beating each other, what do they have on their agendas? It's also unclear what venture capitalists have on theirs – possibly exit strategies, more probably escape plans. By Joel McCormick.

Singapore Telecom has suffered two embarrassing knock-backs to its regional expansion plans. Critics point the finger at the company's close connections with the government. The mooted selldown of Temasek's stake could be onesolution – but who would buy it? Matthew Montagu-Pollock reports.

The crash in Asia's tech stocks in April had its benefits. For a start, it could signal a return to realistic valuations and analysis of fundamentals. It certainly doesn't mean the boom is over. Matthew Montagu-Pollock kicks off a series of articles by asking why Asia reacted so strongly to Nasdaq's fall and where the market is likely to head next.

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While Chartered was breaking records, another of Singapore's most respected companies was also testing the local equity markets in May: two subsidiaries of Singapore Airlines listed on the Singapore stock exchange. Singapore Airlines Terminal Services (Sats) and SIA Engineering made their stock market debuts on May 12, with DBS Bank and Merrill Lynch joint global coordinators. But while both deals were comfortably oversubscribed at an institutional and, in particular, retail level, and despite the formidable local brand name that Singapore Airlines boasts, the shares have performed poorly – particularly in the case of Sats, which dropped 23% in value in its first two weeks of trading.

Investors searching for a value play in volatile and weak markets should take a look at the revitalized CPH Investment Corp. The inimitable Kerry Packer has just raised A$240 million for his new listed investment vehicle. And who, after all, would gamble against his winning hand? Mark Johnson reports.

There's hope for Indonesian restructuring yet. Distribution company PT Wicaksana Overseas International has finally hammered out an ambitious debt for equity swap with creditor banks after 18 months of intense negotiations. The deal, completed on May 12, follows a successful debt buyback last March. It extends the tenor of most of Wicaksana's borrowing by 30% to five years, which will relieve pressure on the company to buy dollars. The company will have a rights issue for $9.3 million of equity, for which the creditor banks will act as standby underwriter in case other investors are not tempted to buy.

HSBC has agreed in principle to the acquisition of a 75% controlling stake in Bangkok Metropolitan Bank (BMB). But due diligence questions could hold up a final settlement for months, according to sources close to the negotiations. Several sticking points in the documentation, which could substantially affect the final net purchase price, remain on the table.

At least one Indian company has reason to be cheerful over the recent slide in the country's stock markets. Reliance Industries has embarked on a $250 million equivalent share buyback – and the drop in its stock price means it can pull in more shares. The company has offered a maximum price of Rs303, representing a 22% premium over the average of high and low prices in the year preceding April 5, when the offer was announced. At that price, it should be able to buy 3.6% of its floating stock. The buyback will take place at intervals over a year from June 13, when its shareholders are expected to approve the plan. The price of Reliance stock, though fairly steady compared with the rest of the Indian market, slid from Rs328 on May 1 to Rs314 on May 25.

Korea's Pohang Iron & Steel Co (Posco), the world's second-largest iron and steel producer, has completed its first international bond since 1997 with a ¥15 billion ($140 million) three-year samurai, lead managed by Nikko Salomon Smith Barney. Says an officer in the international finance team at Posco: "This is an exciting deal. We reached a record low coupon rate and received very good market response." The bond bears a coupon of 1.51%, and provided spread at launch of 75bp over yen Libor. Posco's previous yen deal, a ¥30 billion transaction in 1996 led by Nomura, had a coupon of 2.85%. The coupon is also lower than the 1.65% and 2% rates paid by the Korean Development Bank and Korea Electric Power, respectively, for their samurai issues late last year.