Asiamoney e-alert services

30-day summary

HKEx consults market on renminbi futures

02 Sep 2010 | Structured products, Foreign exchange
The operator of Hong Kong's stock and derivatives exchanges is consulting the market over the introduction of renminbi futures. The tools would greatly help companies hedge currency risk, and help spur more liquidity in the offshore market for the currency.
J.P. Morgan names new Asia commodities chief

02 Sep 2010 | Commodities, Market move
The US bank has appointed Ray Eyles to be its new CEO for commodities in Asia. He replaces Oral Dawe, who has retired from the bank.
China set to raise rates to combat rising inflation: DBS

02 Sep 2010 | Nations & economies
Surprisingly high inflation expectations along with strong levels of local consumer and loan demand will force the central bank to begin raising interest rates more sharply than expected, predicts the Singaporean bank. It anticipates three hikes by the second quarter of 2011.
August enjoys busiest M&A volumes on record

02 Sep 2010 | M&A, League table
Announced M&A activity for Asia ex-Japan during the month was larger than any previous corresponding month on record. Total M&A deal flow for the first eight months of the year is also the most seen so far. Morgan Stanley is the lead adviser for M&A.
G3 worries could blow cold on Asian bond market rally

01 Sep 2010 | Bonds, Foreign exchange
Rising fears of economic stagnation in the US and to a lesser extent Europe could cause international investors to withdraw money from Asia and put it into ultra-safe assets such as US Treasuries, believes Deutsche Bank.
BarCap bulks up Asia equity research team

01 Sep 2010 | Broking, Market move
The UK investment bank announced six appointments to its regional equity research team, as it aims to expand in the equities market in Asia.
Opinion: Thailand still stained by red shirt recollections

01 Sep 2010 | Nations & economies, Editorial
The country is enjoying good GDP growth and a rising stock exchange, but foreign investors look set to stay away until genuine progress is made bridging the gap between the country’s urban and rural populace. It could even mean an early election, writes Chris Wright.
Credit Agricole shifts Lainé to head Asia FIG

01 Sep 2010 | Investment banking, Bonds, Market move
The French bank has moved Frédéric Lainé to a new role heading financial institutions group coverage in its investment banking division. Lainé was formerly head of Credit Agricole's fixed income markets in the region, a position being taken by Graham Williams.
Asian G3 bond market set to soar, says Morgan Stanley

31 Aug 2010 | Bonds
The US bank believes that issuance will greatly expand on the back of rising capital needs and a need to term out balance sheet leverage, and that this will be supported by rising demand for regional debt among international asset managers.
Renminbi reform hastened by offshore FX pilot scheme

31 Aug 2010 |
A pilot programme by the State Administration of Foreign Exchange to let Chinese companies keep FX proceeds offshore could be another step towards liberalisation of the renminbi, and mark an attempt to reduce appreciation pressure on the currency.
BoA-Merrill anoints equity retail sales chiefs

31 Aug 2010 | Structured products, Market move
The US bank has internally appointed Arif Mansuri and Benjamin Tsai to replace the recently-departed Abhinav Gorawara in running equity structured solutions and third-party distribution.
Economists suggest radical moves for Japan's economy

31 Aug 2010 | Nations & economies, Bonds, Foreign exchange
The outcome of an emergency meeting between Bank of Japan governor Masaaki Shirakawa and prime minister Naoto Kan was panned by economists as a political stunt that will not help the country’s economy. Asiamoney.com asks some notable economists their views on more effective policies that should be pursued.
China bank capital recycling raises credit risks: Moody’s

30 Aug 2010 | Bonds
The practice of state owned agencies issuing bonds that are bought by local banks and using the proceeds to inject capital into the same lenders is an accounting trick that could raise risks in the financial sector, warns the US credit rating agency. Daniel Flatt reports.
Citi appoints new head of electronic platforms for Asia

30 Aug 2010 | Cash management, Market move
The US bank has hired Endre Markos from Bloomberg to head electronic markets and platforms for its securities and fund services business, as the bank aims to gain a greater share of online trading in the region.
M&A remains vibrant amid lacklustre markets

30 Aug 2010 | M&A, Stock & exchange, Bonds, League table
While signs are slowly emerging that equity and bond markets are beginning to recover from their August issuance lows, M&A activity remains by far the most vibrant area for new deal flow.
Asia-Pacific private equity pipeline

30 Aug 2010 | Private equity
In collaboration with mergermarket, asiamoney.com presents a list of private equity transactions that have been announced in the Asia-Pacific region.
World has 33% chance of economic double dip: S&P

27 Aug 2010 | Stock & exchange, Nations & economies
The financial services agency’s chief economist David Wyss believes there remains a one in three chance that the world could slip back into a double-dip. He thinks that sovereign credit woes in Europe or financial sector problems would be the most likely culprits.
Study finds variations in algo performance

27 Aug 2010 | Stock & exchange
An analysis of algorithm transactions carried out by trading technology provider Tora discovered a weaker performance from Singapore and Hong Kong than Japan. Levels of liquidity and volatility were key factors for the difference in performance.
Four UBS bankers follow Henry Cai to Deutsche

26 Aug 2010 | Investment banking, Market move
The Swiss bank has had four recent departures from its China investment banking department to join Deutsche Bank. They are expected to start in October.
Nikko AM’s Pickerell plans pan-Asia growth

26 Aug 2010 | Interviews, Asset management
The Asian veteran fund manager has been appointed by the Japanese fund management firm to grow in the region. He tells asiamoney.com why it is such a good time to be planning such expansion.
SMX chief excited by launch of open commodities bourse

26 Aug 2010 | Commodities
The chief executive of the Singapore Mercantile Exchange, Thomas McMahon, says he has butterflies in his stomach ahead of the launch of Asia’s first open commodities exchange. He talks about the rationale for this move.
UBS hires new head of FIG for Japan

26 Aug 2010 | Investment banking, Market move
The Swiss bank has hired Yoshifumi Watanabe as the head of the financial institutions group in the investment banking department for Japan. He joins from Citi, where he held the same title.
E-commerce forecast to flourish in China

26 Aug 2010 | Cash management, Nations & economies
Deutsche Bank believes that China’s e-commerce market will facilitate consumer transactions of more than Rmb1.5 trillion by 2014, with increased internet use of almost 60% expected to benefit associated industries.
World set to see new commodities boom: StanChart

25 Aug 2010 | Interviews, Commodities
The UK bank's head of equity research for resources Jeremy Gray believes that the lack of investment into mines across the world will lead to a major boom for copper, iron ore and coking coal prices in the coming years.
HSBC hires six in renewed enthusiasm for equities

25 Aug 2010 | Broking, Market move
The UK bank has hired six people into different Asian markets to bolster its cash equities coverage. It is part of HSBC's latest drive to build its regional equities capabilities, following several failed attempts before.
Wealth managers bulk up on senior China bankers

25 Aug 2010 | Market move, Private banking
HSBC Private Bank has hired at least three senior relationship managers for its China team this year, asiamoney.com can confirm. It comes amid a spate of high-level job-hopping in 2010 among private bankers focusing on China.
Key figures set to debate carbon trading in Asia

25 Aug 2010 | Interviews, Commodities, Energy
Singapore is set to host Carbon Forum Asia in October, ahead of global United Nations talks in Mexico. Asiamoney.com asks Henry Derwent, president and CEO of the International Emissions Trading Association, what the expectations are for these events.
Opinion: HSBC plans a pan-African adventure

24 Aug 2010 | M&A, Editorial
The UK-headquartered bank has bid for 70% of South Africa's fourth-largest bank by assets, Nedbank. If it succeeds HSBC looks set to help Nedbank expand across Africa to take advantage of the continent's good economic growth and rising trade links with Asia.
How Australia’s hung parliament will impact markets

24 Aug 2010 | Stock & exchange, Nations & economies, Bonds, Foreign exchange
The uncertain general election result is likely to lead to short-term weakening of the Australian dollar and widening bond yields, but that will not last. As it becomes clearer which party is set to take power the stocks of different industries stand to be affected.
UBS adds to Aussie client team in country build-out

24 Aug 2010 | Market move, Private banking
The Swiss institution’s private bank arm has hired Anne Flockart and Veronika Dlouha to bolster its client relationship team based in Sydney. UBS says it sees Australia as a growing market for private banking assets.
BNY Mellon unveils new head of trading in Korea

24 Aug 2010 | Structured products, Foreign exchange, Market move
The asset manager and securities servicing firm has hired K.H. Kang from Woori Securities as its new head of trading in Korea. He succeeds T.B. Song, who is set to retire from the firm after a transition period.
Asian corporates buy more developed market rivals

24 Aug 2010 | M&A
Companies in the region are increasingly acquiring developed market rivals as they flex their financial muscles. However developed market acquisitions into emerging economies remain three times as numerous, says KPMG.
University gets first real-time trading laboratory

23 Aug 2010 | Structured products
International derivatives exchange Eurex has announced plans to set up the world’s first real-time finance trading laboratory at the Chinese University of Hong Kong. It will give students insight into the growing area of algo trading.
Asia markets report muted week for fundraising

23 Aug 2010 | M&A, Stock & exchange, Bonds, League table
Primary activity in Asia Pacific ex-Japan’s equity and debt capital markets plunged last week, with few deals of note. Mercifully the M&A market enjoyed a doubling in deal volumes. Asiamoney.com reviews last week’s regional market activity.
Manila must focus on infrastructure investment: UBS

23 Aug 2010 | Nations & economies, Research report
Edward Teather, the senior south-east Asia economist for UBS Investment Bank, says that the new government in the Philippines needs to focus more on efficiently improving its infrastructure rather than just cutting the fiscal deficit.
Opinion: China’s RMB changes could foster QDII boom

22 Aug 2010 | Editorial, Bonds
The new renminbi bond issue by McDonald's and a foreign exchange liberalisation between China and Malaysia underlines the impact of renminbi liberalisation. These developments should encourage more offshore investment by Chinese corporates, and make the mainland's institutional investors clamour for more overseas assets too.
Philippines' Aquino will struggle to limit fiscal deficit

22 Aug 2010 | Nations & economies, Research report
Tony Nafte, CLSA Asia-Pacific's senior economist, believes that new Philippines' president Benigno Aquino will struggle to turn around a budget deficit, given the country's existing fiscal problems.
Concerns raised about future Chinese consumption

20 Aug 2010 | Nations & economies
While urban and rural Chinese consumers are optimistic about the future, they remain big savers and cautious spenders, finds a new survey. It suggests the world may have an anxious wait before they commit to spend more.
UBS reels in Wei Cai to replace Henry Cai

20 Aug 2010 | Stock & exchange, Investment banking, Market move
The Swiss bank has hired Wei Cai from Morgan Stanley to replace the recently departed Henry Cai. While he lacks the lengthy track record of his predecessor, the new Cai will help bolster the bank's equity capital markets credentials on the mainland.
Citi hires Hodes and aims to expand investment division

20 Aug 2010 | Market move, Private banking
The bank named Paul Hodes as Asia-Pacific head of traditional managed investment products for wealth management in a newly created role. It is seeking to expand its 175-strong investment products team in the region.
Investor fears wane over weaker Chinese economy

20 Aug 2010 | Nations & economies, Asset management
Global emerging markets increased in popularity while there was a noticeable shift in investor pessimism away from China and Europe to Japan and the US, finds the latest fund managers survey from BoA-Merrill Lynch.
Asia-Pacific private equity pipeline

20 Aug 2010 | Private equity
In collaboration with mergermarket, asiamoney.com presents a list of private equity transactions that have been announced in the Asia-Pacific region.
UBS Wealth Management hires India desk head

19 Aug 2010 | Market move, Private banking
The Swiss firm has appointed Jaya Jayaram from Deutsche Bank Private Wealth Management as head of its India desk based in Hong Kong. She replaces Jagdish Upadhyaya, who is taking up another role within the bank.
UBS grabs BarCap's Siddiqi for FICC corporate coverage

18 Aug 2010 | Structured products, Bonds, Foreign exchange, Market move
The Swiss investment bank continues its active expansion into fixed income, currencies and commodities with the appointment of the veteran banker from rival Barclays Capital. Siddiqi starts on September 20.
Deutsche Bank adds Asian equity strategy team

18 Aug 2010 | Stock & exchange, Market move
The German bank has appointed former hedge fund founder Ajay Kapur as head of Asian equity strategy in Hong Kong, along with Priscilla Luk and Ritesh Samadhiya. The trio all previously worked for Mirae Asset Securities.
EFG Bank lures Chien from UBS Wealth Management

18 Aug 2010 | Market move, Private banking
The private banking subsidiary of Swiss firm EFG International has recruited Adeline Chien from UBS Wealth Management to focus on growing its Greater China business. The bank is eyeing ambitious growth in Asia private banking.
Bond benchmark points the way to intl renminbi

18 Aug 2010 | Bonds
Hopewell Highway Infrastructure became the first non-Chinese company to issue an offshore renminbi bond last month. Its deal reflects an increased willingness from Beijing to internationalise its currency quicker than originally expected, and bankers and investors hope a slew of similar transactions will follow.
Malaysia’s commodities platform highlights splits in Islamic opinion

18 Aug 2010 | Islamic finance
Bursa Malaysia’s commodity trading platform is a year old, but it is still not compliant with the tenets of the religion according to one Saudi academic institution. The divergence of opinions and the platform’s rising success reveal the tensions between traditional Islamic thought and modern commercial concerns. Chris Wright reports.
Citi and HSBC top ASIAMONEY’s largest ever FX Poll

17 Aug 2010 | Foreign exchange, Polls & awards
The two global banks are considered the best regional providers of foreign exchange by corporates and financial institutions, respectively, according to the most numerous number of voters yet.
China-related M&A forecast to stay strong

17 Aug 2010 | M&A
A record 99 outbound M&A deals worth US$23.1 billion were announced in the first half of this year, while there was also a rebound in domestic and inbound activity. PwC is expecting further strong growth in 2010 and 2011.
Demand for cash management outpacing supply: DBS

17 Aug 2010 | Cash management, Interviews
Tom McCabe, group head of global transaction services at DBS, says that the massive level of Asia-originated trade growth over the past 10 years has lead to a dearth in sufficiently experienced senior managers.
Banks go for broke in cash equities expansion frenzy

17 Aug 2010 | Broking, Market move
Asia has witnessed a year of frenzied hiring from many investment banks and brokers, but underlying markets are having a woeful year. It paints a bleak picture for revenues.
Cash Management Poll 2010: results in full

16 Aug 2010 | Cash management, Polls & awards
International banks are trying to expand cash management services in Asia more aggressively than ever, as the region’s economic growth outpaces the rest of the world. But succeeding requires a deft mix of customer support, local presence and global capabilities.
Hong Kong needs more renminbi bonds, says Leung

16 Aug 2010 | Interviews, Nations & economies, Bonds, Foreign exchange
Julia Leung, the Hong Kong government’s under secretary for financial services and the treasury, tells asiamoney.com that the city needs more foreign companies to issue offshore renminbi bonds.
Macquarie hires Asia equity derivatives bankers

16 Aug 2010 | Stock & exchange, Structured products, Market move
The Australian bank is aggressively expanding in equity derivatives, hiring six senior personnel to bulk out its capabilities. The additions follow the recent appointment of Todd Steinberg as global head of equity derivatives.
Regional capital-raising given China boost

16 Aug 2010 | M&A, Stock & exchange, Investment banking, Bonds, League table
China Everbright launched the country’s second largest IPO this year to support Asian equity markets, while renminbi bond issuance dominated. Asiamoney.com rounds up last week’s regional capital market activity.
Banks bulking up in Asia transaction services

13 Aug 2010 | Cash management
Both DBS and Deutsche made appointments in their transaction services businesses in Asia this week. It falls in line with a trend as banks seek to boost profitability on the back of stricter regulations and capital requirements.
SocGen sees surging demand for renminbi products

13 Aug 2010 | Bonds, Foreign exchange
New offshore renminbi assets are highly likely to gain demand if Beijing allows more such instruments because of the likely appreciation of the renminbi, says Glenn Maguire, chief Asia economist at Société Générale.
Asia debt default worries downplayed

13 Aug 2010 | Bonds
Concerns about rising default levels over the coming three years as a result of a massive amount of maturing corporate debt have been allayed now that economies are growing and investor appetite is on the rise.
Asia-Pacific private equity pipeline

13 Aug 2010 | M&A, Private equity
In collaboration with mergermarket, asiamoney.com presents a list of private equity transactions that have been announced in the Asia-Pacific region.
Plug into renewable energy opportunities: Sarasin

12 Aug 2010 | Commodities, Energy, Private banking
The Swiss private bank is anticipating a boom in government spending on renewable energy over the next few years, especially in Asia. It is urging investors to capitalise on opportunities to buy into companies in line to benefit.
Asia tipped to witness record bond issuance in 2010

12 Aug 2010 | Bonds
A rash of first-time borrower activity could lead to the largest ever haul of bond issuance from Asia this year and it will be supported by rising flows of money into Asia-concentrated credit funds, predicts Morgan Stanley.
ING Investment Management names new Asia chief

12 Aug 2010 | Asset management, Market move
The asset manager has announced the appointment of Grant Bailey as its new Asia-Pacific CEO, subject to regulatory approval. He succeeds Alan Harden, who ‘has decided to pursue a career outside ING’, the company confirmed.
Soft commodity prices should not spiral, says HSBC

12 Aug 2010 | Commodities
The price of wheat has soared 50% over the past two months over news of droughts in several traditional exporters of the crop. The potential for countries like China to hoard more of the crop could lead prices to spiral further, argues HSBC.
Asian office rents rise for first time in two years

12 Aug 2010 | Real estate
Rent costs for office space in the region rose 2.1% in the second quarter, ending seven consecutive quarters of decline, according to a new report. The growth reflects the resumption of multinational company expansion plans.
CLSA sees full renminbi convertibility in five years

11 Aug 2010 | Nations & economies, Foreign exchange, Broking
Amar Gill, head of thematic research at the Asia brokerage believes the country could make its currency fully convertible in five years time, leading Hong Kong to peg the Hong Kong dollar to the renminbi.
Goldman hires top commodities analyst from Deutsche

11 Aug 2010 | Investment banking, Broking, Market move
The US investment bank has appointed Julian Zhu as a managing director for commodities equity research. He is set to join after a period of gardening leave, and fills a post left vacant when Song Shen left the bank in March.
Japan’s derivatives market tipped to expand

11 Aug 2010 | Structured products, Broking
The introduction of the Arrowhead trading platform and the planned consolidation of the country’s exchanges should make the country’s derivatives market more competitive against regional counterparts, according to brokerage firm Newedge Group.
Bank of Singapore adds Indonesia team

11 Aug 2010 | Market move, Private banking
The private bank has hired industry veteran Larry Leong and a team of five from DBS Private Bank for its Indonesia team, which now boasts 30 bankers. It comes at the latest in a string of hires by the firm, and more are expected.
Hedge funds return to positive territory

11 Aug 2010 | Hedge funds
Rallies across sectors and asset classes saw hedge funds return to the black in July after two months of high volatility and losses, notes Eurekahedge. Distressed debt attracted the most capital, while India was the best-performing region.
HSBC’s O’Malley aims to catch up in natural resources

10 Aug 2010 | M&A, Investment banking, Commodities
The bank has just brought a team of five from Deutsche Bank to bolster its resources and energy group in Asia-Pacific. Its new regional head, Peter O’Malley, is set on growing the business and concedes there is room for improvement.
Beijing’s bond buying causes JGB yields to fall

10 Aug 2010 | Bonds
The Chinese government's aggressive purchase of Japanese government bonds has led yields in the debt to decline while causing the value of the yen to rise, according to Moody’s Analytics.
Growth in HK renminbi market could cause conflict

10 Aug 2010 | Foreign exchange
The relaxation of renminbi transaction rules last month could see exponential growth in the use of the currency in the city. While this should propagate the use of renminbi products Nomura believes that it could also undermine China’s capital controls.
Nomura hires head of sovereign wealth fund sales

10 Aug 2010 | Bonds, Market move
The Japanese bank has hired a point man to take care of its major state customers in the form of Henrik Melph. He joins Nomura from Royal Bank of Scotland, where he held an identical role.
Citi strengthens convertible bond franchise

10 Aug 2010 | Stock & exchange, Bonds
The bank adds a trio of senior staff in Asia-Pacific in response to what it says has been an increase in flows across its convertible desk. It has also added two in London to support clients investing in Asian CBs outside the region.
HSBC recommends shorter-dated Indonesian debt

09 Aug 2010 | Bonds
The outlook for Indonesian government bonds remains healthy but investors should consider switching to shorter-dated notes that are less vulnerable to global risk sentiment and inflation pressures, according to HSBC.
UBS adds duo to Korea fixed income business

09 Aug 2010 | Bonds, Market move
The firm continues the build-out of its fixed income business with two appointments in Korea. It has re-hired Joonkee Hong as head of fixed income, currencies and commodities for Korea and appointed J.Y. Song as co-head of FICC distribution for the country.
Flurry of IPOs highlight upturn in China stock market

09 Aug 2010 | M&A, Stock & exchange, Bonds, League table
Five of the top 10 ECM deals last week were IPOs out of China, underlining the recent rally in China’s stock market. The region’s debt and M&A markets also both improved. Asiamoney.com rounds up last week’s market activity.
Asian entrepreneurs have most optimistic outlook

09 Aug 2010 | Nations & economies
Business owners in the region are more positive than global peers about the tax and regulatory environment as well as the overall economic outlook, according to a new survey. But they are more sceptical about the standard of education and training in their countries.
Asia-Pacific private equity pipeline

09 Aug 2010 | Private equity
In collaboration with mergermarket, asiamoney.com presents a list of announced private equity transactions that are in the pipeline in the Asia-Pacific region.
Nomura adds five equity analysts in Australia

07 Aug 2010 | Broking, Market move
The Japanese bank has moved to further strengthen its impressive regional equity research business by adding five new analysts in Sydney. The appointments reflect the bank’s ambition to become a top-notch broker in Australia.
ABN Amro bolsters Asia private banking team

07 Aug 2010 | Market move, Private banking
The Dutch firm has appointed Jimmy Kee from Standard Chartered as its market manager for Singapore and Malaysia in what is a new role. It follows several key additions this year, including Mark Chan and Arjan de Boer.
Banks face shortage of available talent in Asia

07 Aug 2010 | Investment banking, Broking, Market move
Regional banks are finding it increasingly challenging to fill the increase in job vacancies because of a lack of available candidates and intensifying competition to hire top talent, according to eFinancialCareers.
China GDP slowdown fails to deter private equity

07 Aug 2010 | Private equity
Three private equity transactions were executed in China last week, despite the continued emergence of data suggesting that the country’s economic expansion is slowing. It highlights the continued appeal of the country in the face of such news, writes mergermarket.
India must attract more FDI and raise rates: HSBC

06 Aug 2010 | Nations & economies
The bank’s co-head of Asian economics, Fred Neumann, says that New Delhi’s preference to keep rates low risks accelerating its inflation rate. Instead the government should cut red tape and encourage foreign direct investment, while the central bank raises interest rates to keep inflation in check.
Asia corporates regain pre-crisis stability, says Moody’s

06 Aug 2010 | Bonds
The international ratings agency says the proportion of issuers in Asia-Pacific ex-Japan with stable outlooks returned to levels last seen before the global financial crisis during the second quarter.
Japan and India offer top property prospects

06 Aug 2010 | Real estate
Asia-Pacific real estate markets have rebounded sharply since the financial crisis. The best opportunities lie in slower growth markets such as Japan and India, according to RREEF, Deutsche Bank’s real estate asset management arm.
Greater China offers most M&A risks and rewards

05 Aug 2010 | M&A
The region is the most popular target market for future Asian cross-border M&A, although it is also viewed as one of the riskiest, according to a mergermarket survey.

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30-day summary