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Headwinds threaten Asia’s corporate bond market

March 03, 2010  

From Pamela Tang

Conflicting policy objectives among Asian nations makes investors uncertain about the strength of economic recovery, says Moody’s. Any development not in line with expectations could trigger swift changes in capital flows.

Asia’s corporate bond market has recovered significantly, although strong headwinds potentially lie ahead, according to ratings agency Moody’s.

This sector started stabilising in the second half of last year as the fiscal stimulus packages from various Asian governments...


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 LOCAL CURRENCY DCM

Rank Bookrunner Value ($m) No. %Share
1 Samsung Securities Co 1,079 13 4.8
2 China Development Bank Corp 1,066 3 4.8
3 KB Financial Group Inc 1,052 10 4.7
4 Daewoo Securities 950 8 4.2
5 Korea Investment & Securities 865 14 3.9
6 Woori Investment & Securities 854 12 3.8
7 SK Securities 758 8 3.4
8 CITIC Securities 686 2 3.1
9 Dongbu Group 650 10 2.9
10 Haitong Securities 649 2 2.9
Subtotal 8,609 70 38.4
Total 22,396 168 100.0

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