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...

  • 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....

  • Foreign companies accelerate cheap yen funding

    TOKYO -- Non-Japanese companies have been raising more funds in yen this year, with low interest rates lifting samurai loans to a record high in the first half. U.S. and European banks cut back on lending after the 2008 financial crisis, leading ...

  • Aviation Industry Corp of China issues 3 billion yuan bond: Dealogic

    Aviation Industry Corp. of China issued a 3 billion yuan bond last week via bookrunners Citic Group and China Minsheng Banking.

  • Japan's pension fund brings in private-equity specialist

    TOKYO -- Japan's Government Pension Investment Fund appointed Hiromichi Mizuno, a partner at Britain's Coller Capital, as the newest member of its investment committee on Friday. Welfare Minister Norihisa Tamura made the announcement the same day...

  • Chat app provider Line files to list on US stock market

    TOKYO -- Instant-messaging app provider Line has submitted an application to the U.S. Securities and Exchange Commission to go public in the American stock market. The company is applying for listing on the Tokyo market as well. It may list on bo...

  • Mitsubishi UFJ Lease to issue dollar bonds

    TOKYO -- Mitsubishi UFJ Lease & Finance Co. will issue $500 million in dollar-denominated corporate bonds, possibly by the end of this month. The notes will have a floating interest rate around 0.8 point above the 3-month Libor rate, and have a m...

  • ONGC Videsh issues $2.2B dual-currency bond: Dealogic

    ONGC Videsh, the wholly owned subsidiary of India's ONGC, issued a $2.2 billion dual-currency bond last week via bookrunners BNP Paribas, Citi, Deutsche Bank, RBS and Standard Chartered Bank.

  • Global corporate bond market heating up

    TOKYO -- Corporate debt offerings are swelling to historic highs as companies rush to raise capital at rock-bottom interest rates. Bond issues in Japan, Europe, the U.S. and other major markets rose 8% on the year in the January-June period to $1...

  • Japanese businesses issue $4.7B worth convertible bonds

    TOKYO -- Japanese businesses issued 480 billion yen ($4.7 billion) worth of convertible bonds during the six months through June, the largest first-half figure in eight years. Holders of convertible bonds have the right to switch their holdings i...

  • Europe's negative interest rate rippling to Japan

    TOKYO -- The so-called negative interest rate policy the European Central Bank adopted last month has increased money flows into Japanese government bonds, driving the yield on three-month notes into negative territory on Thursday. The yield on n...

  • Fundraising surges on Philippine bourse

    MANILA -- Capital raised through the Philippine Stock Exchange surged 147.2% to over 76 billion pesos ($1.76 billion) in the first six months of this year compared to 2013 when less than 31 billion pesos was raised. The benchmark PSE index ended ...

  • Japanese long rates drop to 15-month low

    TOKYO -- Long-term interest rates in Japan have turned downward again as financial institutions step up purchases of government debt for lack of better options. The benchmark yield on newly issued Japanese government bonds slipped to 0.54% Wednes...

  • Asean bourses talk greater integration: Thai exchange chief

    BANGKOK -- Ahead of the launch of the Asean Economic Community at the end of 2015, the region's stock exchanges are in talks on greater integration, said Kesara Manchusree, head of the Stock Exchange of Thailand. The seven Asean stock exchanges -...

  • Surging loans to China cast pall over Hong Kong

    HONG KONG -- The surge in lending by Hong Kong banks to mainland China in recent years has given rise to fears that the banks will be hit hard should turbulence rock the Chinese economy. Recent warnings issued by major ratings agencies about Hong Kon...