Asiamoney - Equity

Equity

2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Asia-Pacific private equity pipeline

08 Feb 2010 M&A, 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.
Korean regulators respond to revival in private equity

08 Feb 2010 M&A, Private equity
The return of private equity activity in South Korea has prompted regulators to urge investment in the asset class. They introduced tax benefits and are seeking to relax rules over the creation of funds, says Mergermarket.
BarCap expected to capture Jeremy Norris

05 Feb 2010 Stock & exchange, Investment banking, Market move
The investment bank is expected to name Jeremy Norris as its Asia head of equity sales trading, asiamoney.com understands. It would be a coup for the firm, with him returning to the industry after a nine-month break.
Australia's deals of the year: equity-linked offering

04 Feb 2010 Stock & exchange, Bonds, Polls & awards
The sale of exchangeable bonds to the International Petroleum Investment Co. of Abu Dhabi could influence Papua New Guinea's economic future. It wins our award as best equity-linked offering of the past year.
Nomura forecasts rebound for China banking stocks

04 Feb 2010 Stock & exchange
The Japanese bank says concerns over potential policy tightening are overdone and that market declines have already priced in negative impact from interest rate rises. It likes the earnings visibility and valuations of bank stocks.
Australia's best deals of 2009: IPO

03 Feb 2010 Stock & exchange, Polls & awards
Macquarie Capital launched Carsales.com's IPO into a vulnerable market, confident in its business model, and investors agreed. The deal was a success and wins Asiamoney's nod as Australia's best IPO of the past year.
Macquarie sees ‘extreme value’ in Japanese stocks

03 Feb 2010 Stock & exchange, Nations & economies
Japanese equities are being tipped to outperform the rest of Asia by Macquarie analysts as their valuations are currently the cheapest in the region. They are also likely to receive a further boost from recent declines in the yen.
Austalia's deals of the year: equity offering

03 Feb 2010 Stock & exchange, Polls & awards
Asciano Group's A$2.35 billion share sale allowed it to cut its net debt and rebuff the advances of the avaricious private equity companies. It wins Asiamoney's award for best equity offering in Australia over the past year.
Citi bankers upbeat over new Asia issuance

03 Feb 2010 Stock & exchange, Bonds
The US bank’s Asia-Pacific co-heads of markets, David Ratliff and Rodrigo Zorrilla, are predicting strong new equity and debt issuance for the region in 2010. They stress that the macro trends for Asia remain compelling.
Bond markets buoy Asia’s capital market activity

02 Feb 2010 M&A, Stock & exchange, Bonds, League table
Chinese companies dominated debt issuance, although there were some other telling transactions too, with firms taking a fancy to samurai bonds. However, M&A and equity markets remain subdued. Asiamoney.com rounds up last week’s key regional capital market activity.
China equity investors urged to diversify overseas

02 Feb 2010 Stock & exchange, Asset management
Retail investors have piled into China’s equity markets on the back of surging growth. But relatively expensive valuations and fears over asset inflation mean it is time for domestic investors to seek education on how to diversify successfully overseas, say fund managers.
Deutsche sees 2010 corrections as buying opportunities

02 Feb 2010 Stock & exchange, Energy, Bonds, Foreign exchange, Asset management, Private banking
The bank’s wealth management team is advising clients to be dynamic in asset allocation. It believes the global economy is strong enough to withstand a withdrawal of government stimuli, and urges investors to seize on market dips.
Private equity firms favour Asia’s consumer sector

01 Feb 2010 M&A, Private equity
Several consumer-based deals came to market last week, including the sale of South Korean store chain Buy The Way in the largest private equity buy-out this year. Further activity can be expected, writes Mergermarket.
Asia-Pacific private equity pipeline

01 Feb 2010 M&A, 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.
Asia’s IPO pipeline expected to thin out

01 Feb 2010 Stock & exchange, Nations & economies
Signs of consolidation in global equity markets, combined with a string of disappointing regional debuts, is forecast to slow Asia’s IPO pipeline down in the near term. But bankers expect activity to pick up before 2010 is through.
Country deals of the year: Malaysia

29 Jan 2010 Stock & exchange, Polls & awards
The US$3.3 billion IPO of Maxis Communications is likely to have far-reaching positive consequences for Malaysia's capital markets, and as such it wins Asiamoney's award as the country's best deal of the past year.
Country deals of the year: India

28 Jan 2010 Stock & exchange, Bonds, Polls & awards
Larsen & Toubro’s US$600 million combined share sale and convertible bond issue was the first of its kind out of India. The innovative transaction earns Asiamoney's nod as India's best deal of the past year.
Further decoupling forecast for Asian nations

28 Jan 2010 Stock & exchange, Nations & economies, Asset management
Increasing domestic demand will see Asian economies continue to decouple from developed countries as the region becomes less dependent on exports, notes UK-based fund manager Aberdeen Asset Management.
J.P. Morgan bolsters equities team in Hong Kong

27 Jan 2010 Stock & exchange, Market move
Gordon Crosbie-Walsh is returning to Hong Kong to join J.P. Morgan’s equity syndicate desk next month, asiamoney.com understands. It will be his second stint in the city, having worked there previously for 14 years.
Nomura names co-head of Asia bank research

27 Jan 2010 Stock & exchange, Broking, Market move
The Japanese bank Nomura has appointed Lucy Feng as managing director and co-head of regional bank research for Asia ex-Japan. She joins from Deutsche Bank, where she worked in a similar role.
Country deals of the year: China

27 Jan 2010 Stock & exchange, Polls & awards
There has been a tidal wave of Chinese IPOs, but one stood out above the others. Sinopharm Group's US$1.3 billion debut in Hong Kong attracted huge interest and wins Asiamoney's award as China's best of the past year.
Bankers see investor shift towards commodities

27 Jan 2010 Stock & exchange, Structured products, Nations & economies, Commodities, Private banking
Emerging market economies offered strong returns last year, but bankers are touting commodities as a potential trend for 2010. Given the likelihood of price volatility and seasonality, they expect investor education lies in store.
Fears of China overheating seen as exaggerated

26 Jan 2010 Stock & exchange, Nations & economies
Analysts at Credit Suisse say China is experiencing financial, rather than economic, overheating. They see recent declines in the country’s equity markets as a buying opportunity and highlight some favourite picks.
Citi strategists see the value of health care

26 Jan 2010 Stock & exchange, Nations & economies, Commodities, Foreign exchange
The US bank is advising clients to seize on opportunities in the health-care sector on the back of structural changes and long-term underperformance. It likes global real estate too, but points to potential risks in recovery.
BNP Paribas adds trio in Korean equities

26 Jan 2010 Stock & exchange, Market move
The French bank has hired Eric Yun as head of domestic sales, Jay Koo joins as head of international sales, and Joon Park as head of sales trading. It comes as the bank continues to beef up its Korean securities business.
BNY Mellon targets regional broker-dealer segment

26 Jan 2010 Stock & exchange, Asset management, Market move
The US-based financial services firm adds David Brown as vice-president for broker-dealer global sales in its Hong Kong office. He will be responsible for selling the firm’s broker-dealer capabilities to clients in Asia-Pacific.
Asia-Pacific private equity pipeline

25 Jan 2010 M&A, Private equity
In collaboration with Mergermarket, asiamoney.com presents a list of announced private equity deals that are in the pipeline in the Asia-Pacific region.
Property firms anchor Asia’s M&A market

25 Jan 2010 M&A, Stock & exchange, Bonds, League table
A raft of property-related deals buoyed M&A volumes, while Chinese firms dominated debt markets, and equity markets stayed steady. Asiamoney.com rounds up last week’s capital market activity in Asia-Pacific ex-Japan.
Nomura highlights tale of two recoveries

25 Jan 2010 Stock & exchange, Nations & economies
Economic growth will remain divided between developed countries, which are likely to continue a weak recovery, and emerging market economies, which will forge ahead with a strong recovery, say economists at Nomura.
Private equity firms focus on fundraising

25 Jan 2010 M&A, Private equity
A paltry total of three private equity deals in Asia-Pacific last week suggests that many prospective buyers are busy raising capital and waiting for further signs of global economic recovery before entering the marketplace.
HSBC names Anita Fung in expanded role

25 Jan 2010 Private equity, Investment banking, Asset management, Market move
The bank appoints Anita Fung as its Asia-Pacific head of Global Banking and Markets in what is a newly formed role. She will take care of regional corporate and investment banking, as well as asset management.
HSBC sees H-shares as a buying opportunity

24 Jan 2010 Stock & exchange
The bank notes recent declines in China H-shares and suspects the Hang Seng China Enterprise Index could fall up to 20% in the next few weeks. However it sees counterparts on the A-share index as too expensive, still.
Executive outlines trends in currencies, commodities

24 Jan 2010 Stock & exchange, Commodities, Foreign exchange
Johann Santer of Superfund Financial expects stronger trends to emerge in currencies and commodities, helping managed futures strategies in 2010. He is bullish on countries that stand to gain from rising commodity prices.
Barclays Wealth sees value in likely M&A trend

21 Jan 2010 M&A, Stock & exchange, Commodities, Foreign exchange
The wealth manager says the environment is ripe for M&A since firms with strong balance sheets can borrow at record low rates. It also sees value in non-cyclical equities, renminbi appreciation and shorting gold.
Aberdeen harbours hope over access to China investors

21 Jan 2010 Stock & exchange, Nations & economies
Aberdeen Asset Management director Alex Boggis reveals his optimism about gaining greater access to domestic investors and funds in China, despite regulators scrapping plans for its “through-train” programme.
Demand for derivatives bankers hots up

21 Jan 2010 Stock & exchange, Structured products, Market move
After two years of sitting on the sidelines, structured products bankers are back in vogue, with institutions increasingly looking to bulk up. Smaller firms will need to get their skates on if they want to attract the top talent.
Wealth managers return to in-house products

20 Jan 2010 Stock & exchange, Bonds, Private banking
Private wealth management institutions increased aggregate allocation to in-house products to 40% last year, a rise of 12 percentage points, a survey has found. It comes as firms seek to bolster diminishing margins.
Hong Kong tipped to remain top IPO market in 2010

20 Jan 2010 Stock & exchange, Nations & economies
Firms from China and elsewhere are queuing up to debut in the city, attracted by its low interest-rate environment and relatively low volatility. Sun Hung Kai Financial argues a rise in IPOs could even alleviate surplus liquidity.
Nomura gains ASX trading licence

20 Jan 2010 Stock & exchange
The bank announces it has gained admission to be a trading participant on the Australian Securities Exchange. The move is further evidence of the firm’s ambitions to expand its equities business across the region.
Regulatory regime tipped to alter hedge fund landscape

19 Jan 2010 Stock & exchange, Hedge funds, Nations & economies, Asset management
Stringent regulatory requirements could make hedge funds more expensive to manage and may force firms to change location. A research house has picked potential winners and losers among industry strategies this year.
BNY Mellon names head of Taiwan depositary receipts

19 Jan 2010 Stock & exchange, Asset management, Market move
The financial services firm has hired Frances Ni to run its depositary receipts business in Taiwan. The appointment comes after the bank tipped Asian issuers to continue dominating the depositary receipt industry this year.
Credit Suisse highlights the merits of going green

18 Jan 2010 Stock & exchange, Energy, Private banking
Its private banking division has established a research institute to identify big picture trends shaping the future. Highlighting appealing valuations, it makes a compelling argument for making renewable energy investments.
Asian markets cough up just two deals of note

18 Jan 2010 M&A, Stock & exchange, Investment banking, Bonds, League table
India’s GTL Infrastructure moves to more than double its network of towers, while Westpac prices a Samurai bond. Asiamoney.com rounds up what was an otherwise slow week for capital market activity in Asia ex-Japan.
Asia ex-Japan equity funds see record inflow

16 Jan 2010 Stock & exchange, Nations & economies
Overseas investors poured into regional equities in Asia ex-Japan last year as funds recorded their largest ever inflow, according to Macquarie research. Emerging market funds globally also hit a new high.
Opinion: Beijing was right to derail the through-train

16 Jan 2010 Stock & exchange, Editorial
Scrapping the “through train” plans that would have allowed domestic investors to buy Hong Kong-listed stocks directly is a positive. It shows that when it comes to China’s nascent financial market, it pays to be patient.
Indian, renewable assets attract private equity interest

15 Jan 2010 M&A, Private equity
Three acquisitions came to the Indian market in the past week. The only other deal was in renewable energy, highlighting perhaps where private equity firms think the action will be in 2010, writes Mergermarket.
LGT urges equity investors to wait for Fed action

14 Jan 2010 Stock & exchange, Commodities, Bonds, Foreign exchange, Private banking
The wealth manager advises clients to stay fully invested in equities as governments and central banks will do whatever is necessary to avoid a deflationary or double-dip scenario. It doesn't expect the Fed to tighten in 2010.
China’s reserve ratio hike to hit banking stocks

13 Jan 2010 Stock & exchange, Nations & economies, Loans, Foreign exchange
Beijing’s decision to raise banks’ reserve requirement ratio 50 basis points to 16% is likely to have a negative impact on Chinese equities, note analysts. It also raises expectations about interest rate hikes and adds to speculation that Beijing will relax the dollar peg.
China shows it’s serious about reining in lending

13 Jan 2010 Stock & exchange, Nations & economies, Bonds, Loans, Foreign exchange
By increasing the reserve requirement ratio, the People’s Bank of China has sent out a strong message, and further hikes are expected. Some believe it was motivated to rein in credit growth and to suck liquidity out of the system, with billions in PBoC bills set to mature.
Asia tipped to dominate depositary receipt industry

13 Jan 2010 Stock & exchange, Nations & economies
Asian issuers of depositary receipts made up the majority of deals globally last year, a report finds. The region is tipped to continue dominating this year as investors seek to tap into its rebound from the financial crisis.
Citi highlights Greater China challenges for investors

12 Jan 2010 Stock & exchange, Nations & economies
Stock markets offer upside potential, but the pace of gains is uncertain and the environment promises to be more challenging this year than last, the US bank says.
Asia-Pacific private equity pipeline

12 Jan 2010 M&A, Private equity
In collaboration with mergermarket, asiamoney.com presents a list of announced private equity deals which are in the pipeline in the Asia-Pacific region.
Former ‘Asian Tiger’ economies on comeback trail

12 Jan 2010 Stock & exchange, Nations & economies
The region’s developed economies have rebounded strongly from the financial crisis and stand to benefit from a recovery in global trade, says a fund manager.
Asia private equity buy-outs start year quietly

12 Jan 2010 M&A, Private equity
Deal activity in Asia’s private equity arena began lightly last week, with just five transactions worth a total of US$176 million, writes mergermarket.
Deutsche sees modest China equity gains in 2010

11 Jan 2010 Stock & exchange, Nations & economies
Stock gains should not top 15% in 2010 as Beijing starts to tighten monetary policy, predicts Deutsche Bank. It believes sectors positively linked to inflation and exports are likely to do well, as will clean and renewable energy.
Australian and Korean issuers start 2010 in a rush

11 Jan 2010 M&A, Stock & exchange, Bonds
Asia-Pacific ex-Japan’s debt capital markets got off to a flying start this year, with Australian financial institutions and Korean corporate leading issuance. M&A activity was also buoyant, while equity markets were quiet. We round up last week’s regional capital market business.
Offshore issuers target entry to China’s stock markets

10 Jan 2010 Stock & exchange, Nations & economies
After years of talk but little progress, the mainland’s regulators could soon give the go-ahead for international issuers and red-chip companies to list shares in Shanghai.
UBS takes positive view on cyclical conditions

07 Jan 2010 Stock & exchange, Research report
Niall MacLeod, Asia equity strategist for UBS Investment Research, expects the Asian liquidity thesis – loose monetary policy pushing up Asian asset prices – to remain in place, with returns driven by earnings growth.
Investors unnerved by Japanese banks’ capital needs

07 Jan 2010 Stock & exchange, Nations & economies
Sumitomo Mitsui Financial Group is set to launch a US$8.7 billion share issue and Mizuho Financial Group is likely to follow. The deals will test weak investor resolve and threaten to undermine the lenders’ financial performance, writes Asiamoney correspondent Peter McGill.
China looks for billions to fill bank funding hole

07 Jan 2010 Stock & exchange, Nations & economies
Beijing wants its major financial institutions to raise vast amounts of capital to sustain their lending. The equity deluge will challenge the priorities of sovereign wealth funds and large fund managers alike.
CCB tips the Hang Seng to hit 29,000 this year

07 Jan 2010 Stock & exchange, Nations & economies
Peter So, the Chinese bank’s head of research, expects the HSI to achieve a 12-month high of 29,000 points and is urging equity investors to capitalise before fiscal tightening measures are introduced later in 2010.
Credit Suisse Private Banking outlines 2010 upside

07 Jan 2010 Stock & exchange, Nations & economies, Commodities, Private banking
The division is retaining an overweight on non-Japan equities, with indices in China, Hong Kong, Taiwan and South Korea offering the most potential. It also expects the renminbi to appreciate up to 5% during the year.
Stay invested during quiet first quarter, urges HSBC

06 Jan 2010 Stock & exchange, Commodities, Energy, Bonds, Foreign exchange, Private banking
Arjuna Mahendran, Asia head of investment strategy for HSBC Private Bank, sees 2010 as a year of three halves: a quiet first quarter followed by a potential bull-run and then renewed tightening by central banks at the end.
Credit Suisse bolsters Asia-Pacific fixed income business

06 Jan 2010 Bonds, Broking, Market move
The bank makes two senior appointments in Hong Kong, re-hiring Atsushi Mizuno from Bank of Japan and relocating Bunt Ghosh from London. It is striving to grow its fixed income teams in the region by over 20% in 2010.
Super bubble warning for Indian stocks

06 Jan 2010 Stock & exchange, Nations & economies
The Sensex could venture further into bubble territory in 2010 as the nation’s economy rebounds to high levels of positive growth, interest rates remain low and corporate investment returns to the country, cautions Noble Group.
BEA ‘less likely to be acquired’ after share issues

06 Jan 2010 M&A, Stock & exchange
Bank of East Asia’s share issues to Criteria CaixaCorp and Sumitomo Mitsui make it less likely to be a hostile takeover target, say analysts. Yet further stake increases by shareholders may trigger more M&A speculation.
Strategist sees 18% upside for Asian equities in 2010

06 Jan 2010 Stock & exchange, Research report
Jonathan Garner, Morgan Stanley’s chief Asian and emerging market equity strategist, says he expects a shift to a more micro market this year. He reveals the bank’s stock market predictions for 2010.
Gammons quits Citi to join BoA-Merrill

05 Jan 2010 Private equity, Market move
Veteran private equity banker Chris Gammons is set to join Bank of America-Merrill Lynch in March as head of its financial sponsor business for Asia-Pacific ex-Japan. It is widely regarded as a coup for the bank.
Outlining opportunities for investors in 2010

05 Jan 2010 Stock & exchange, Nations & economies, Research report
Sean Darby, Asia equity strategist at Nomura, considers which countries and sectors offer the most potential this year and which face the largest challenges.
Macquarie Securities names new faces in bold India bet

04 Jan 2010 Broking, Market move
The equities broking arm of Macquarie Group has announced three senior equity sales and research appointments in Mumbai as it takes a bullish view on the nation’s economy and strives to boost its local footprint.
Asia at risk of 1990s-style asset bubble, warns Nomura

04 Jan 2010 Stock & exchange, Nations & economies
The bank believes Asian central banks will maintain loose monetary policy for longer than is warranted, raising the risk of asset bubbles forming. It recommends investors look to south-east Asian equity markets for value.
Credit Suisse unveils Asia’s most undervalued markets

04 Jan 2010 Stock & exchange, Nations & economies, Research report
Sakthi Siva, the bank’s Asia equity strategist, considers which countries and sectors offer the most potential and which face the greatest challenges this year.
Heavyweight banking trio top 2009 tables

04 Jan 2010 M&A, Stock & exchange, Investment banking, Bonds
UBS, Deutsche Bank and Morgan Stanley finished last year as the top bookrunners for Asia ex-Japan equity, debt and M&A transactions, according to Dealogic data.
Hong Kong’s IPO market tipped to surge in 2010

04 Jan 2010 Stock & exchange, Investment banking, Nations & economies
Debut listings in the city are forecast to top HK$300 billion this year as firms strive to tap into China’s growth, PricewaterhouseCoopers says. Hong Kong's capital markets are expected to be less volatile than global counterparts, with interest rates forecast to remain low.

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