Capital Markets

Japan, China battle over financial infrastructure

TOKYO -- The Japanese government released the revised version of its Japan Revitalization Strategy for 2014 late last month. There was a low-profile but important measure in the strategy: Strengthening the yen's infrastructure. The measure is des...

  • Foreign investors drove up JGB purchases in July

    TOKYO -- Foreign investors were the largest net buyers of Japanese bonds in July, purchasing a total of 1.28 trillion yen ($12.31 billion) worth, as the market tipped toward the safe haven of sovereign debt. Foreigners were net buyers for Japanes...

  • Alibaba's Yu'E Bao: is its high-yield era coming to an end?

    HONG KONG -- Alibaba Group Holding's online money market fund called Yu'E Bao is losing its luster of late. With its exceptionally high yields, the financial product's assets under management grew quickly after its launch June last year. A massiv...

  • Investors heading into 20-year JGBs on lower volatility

    TOKYO -- More investors are purchasing longer-term bonds, as the yields on their short- and medium-term counterparts appear close to bottoming out due to the Bank of Japan's massive open-market operations. The results of the 20-year Japanese gove...

  • Chinese banks to build capital through preferred shares

    SHANGHAI -- Leading Chinese banks will likely issue over 340 billion yuan ($55.3 billion) in preferred stock in an effort to bring capital ratios in line with tightening international regulations. The Bank of China announced it will issue as much...

  • Long rates in Japan slip below 0.5% on tight supply

    TOKYO -- Japan's long-term interest rates are at exceptionally low levels as the central bank continues to make massive purchases of government bonds under its monetary easing program. The benchmark yield on newly issued 10-year Japanese governme...

  • China National Nuclear issues 5 billion yuan bond: Dealogic

    China National Nuclear on Aug. 12 issued a 5 billion yuan investment
    grade bond via bookrunners China Galaxy Securities and China Development Bank.

  • Singapore bourse targets speculative volatility in transparency push

    SINGAPORE -- Seeking to restore confidence following penny-stock crashes last October, the securities market here has proposed a package of reforms to improve transparency. The Singapore Exchange, or SGX, and the Monetary Authority of Singapore a...

  • The pickle of inflation-linked Japanese government bonds

    TOKYO -- The Japanese market's attention is now focused on whether the finance ministry will further boost or keep unchanged the amount of new inflation-linked government bond issues. The principal of an inflation-linked bond varies with price mo...

  • Japan's long rates hit 16-month low

    TOKYO -- The yield on 10-year Japanese government bonds dropped to a 16-month low of 0.50% Friday, as cheap stock prices drove investors toward JGBs. Barclays Securities revised its forecast for the benchmark yield from 0.85% down to 0.45% the sa...

  • Industrial & Commercial Bank of China issues 20 billion yuan bond: Dealogic

    Industrial & Commercial Bank of China on Aug. 4 issued a 20 billion yuan Basel III-compliant bond via bookrunners Citic Securities and UBS.

  • 'Chinese-style' QE raises stimulus expectations

    HONG KONG -- A 1 trillion yuan ($162 billion) lending program set up by the People's Bank of China is drawing investors' attention -- boosting speculation that the central bank is trying to stabilize the economy by reducing interest rates in certain ...

  • BOCOM's asset-backed securities priced at 4.6 billion yuan: Dealogic

    BOCOM's 4.6 billion yuan asset-backed securities (2014-1) issuance was priced via bookrunners Citic Securities, Haitong Securities, ICBC and Southwest Securities on July 31.

  • New Indonesian, Indian governments have shots at real change: Fitch Ratings

    KUALA LUMPUR -- Fitch Ratings sees major opportunities for the new governments in Indonesia and India to lift potential growth rates. Thomas Rookmaaker, the international rating agency's lead analyst for a number of countries including those two,...

  • Hunt for yield heats up: subprime loans, anyone?

    TOKYO -- With long-term interest rates at historic lows in much of the rich world, investors are reaching eagerly for exotic sovereign bonds and even repackaged loans to questionable borrowers. Monetary policy in the U.S., Europe and Japan has st...

  • The eight minds guiding Japan's 'pension whale'

    TOKYO -- There is a growing interest in what is going to happen to the 130 trillion yen ($1.26 trillion) being managed by the Government Pension Investment Fund, the world's largest institutional investor, as Japan tries to let the so-called "pension...

  • Default scare poses difficult problem for Chinese government

    SHANGHAI -- Concerns about defaults on wealth management products and bonds are increasing in China as its companies' highly leveraged management aimed at boosting profitability on large debts amid tough fundraising environments begins to come apart....

  • Export-Import Bank of China prices $3B bond: Dealogic

    Export-Import Bank of China on July 25 priced a $3 billion bond via bookrunners JPMorgan, ICBC, HSBC, ANZ, RBS, Barclays, Bank of Communications and Credit Agricole CIB.

  • Japanese investment in Asian bonds surges 70%

    TOKYO -- Japanese investors are increasingly buying bonds issued by companies and governments in the rest of Asia. According to "International Transactions in Securities," published by the country's Ministry of Finance, Japanese individuals, pens...

  • Chinese builder staves off default after local rescue

    SHANGHAI -- Local government aid to a Chinese construction company appears to have averted what might have been the country's first corporate default on short-term debt. Huatong Road & Bridge Group apparently repaid in full 400 million yuan ($64....