Capital Markets

Oversea-Chinese Banking Corp.

Good uptake for first Lion-OCBC Capital Asia Fund

SINGAPORE -- Oversea-Chinese Banking Corp. (OCBC) has attracted 550 million Singapore dollars ($395 million) to its first private equity fund for investments in small and medium Asian enterprises with high growth potential. Lion-OCBC Capital Asia...

  • Islamic finance

    Cross-border deals gain momentum

    TOKYO -- Governments and businesses in Asian and Middle Eastern countries are increasingly moving to set up financial institutions that offer products and services compliant with Islamic law, or Shariah. In countries such as Indonesia, China and Turk...

  • Sime Darby

    Seeking funds to pare down debt

    KUALA LUMPUR -- Sime Darby, the world's largest palm oil producer, plans to raise funds to ease its debt burden after falling commodity prices seriously dented earnings. By the end of June, the company's total borrowings had jumped 61% year on th...

  • Indian Oil Corp.

    Insurer buys into refiner to help government

    NEW DELHI -- In another sign that the Indian government is struggling in its privatization program, state-owned Life Insurance Corp. was called upon to step in and buy up nearly all of a 10% stake in Indian Oil Corp. that it tried to offload on the m...

  • JGBs soften on profit-taking

    TOKYO (Dow Jones) -- Japanese government bonds finished slightly lower Tuesday as market participants took profits after recent gains. Traders said JGBs softened as players took profits, some to make up for money lost on stock declines as global ...

  • Worries of rate volatility

    Bank of Japan bondholdings break 300 trillion yen

    TOKYO -- Japan's central bank now holds over 300 trillion yen ($2.44 trillion) in Japanese government bonds as a result of long-term monetary easing measures -- a development that is raising fears of market volatility. The Bank of Japan's bondhol...

  • Capitalizing on low interest rates

    'Front-loaded' JGB issues hit record in fiscal 2014

    TOKYO -- Japan's government issued a record amount of debt for funding the next fiscal year's spending during fiscal 2014, looking to take advantage of the Bank of Japan's ultraloose monetary policy and lower interest payments while it could. The...

  • Free-floating funds find home

    Foreigners hold record 300tn yen in Japanese securities

    TOKYO -- Foreign investment in Japanese securities has broken 300 trillion yen ($2.39 trillion) for the first time, with overseas investors now owning 30% of Japanese stocks and more than 10% of government bonds. More funds have been made availab...

  • JGBs Hit One-Week Low, Weighed by Speculation over Fed Rate

    TOKYO (Dow Jones) -- Investors pushed down Japanese government bonds to their lowest level in a week Thursday, taking cues from weak domestic debt auction results and a pullback in U.S. Treasurys overnight. The yield on the benchmark 10-year JGBs...

  • Fighting a slowdown

    Beijing-linked banks to float bonds to support infrastructure projects

    BEIJING -- China's government has apparently authorized state-affiliated financial institutions to issue a total of 300 billion yuan ($48.3 billion) in debt to fund infrastructure construction, aiming to shore up a slowing economy. The move was r...

  • Fleeing to government debt

    Cheap oil, China worries send euro bond yields into negative territory

    LONDON -- Yields on European government bonds are once again diving below zero as cheap oil and China's slowdown spark worries of prolonged low inflation despite the European Central Bank's efforts to reverse the trend. Yields on five-year German...

  • Bullish bank, bearish market

    'BOJ trade' making comeback amid dim prospects for easing exit

    TOKYO -- The so-called "BOJ trade," in which investors buy bonds issued by the government to sell to the Bank of Japan, is enjoying a revival as fears of an interest rate rise recede and market players anticipate monetary easing continuing for some t...

  • Global market worries

    Investors flee stocks, commodities for low-risk bonds

    TOKYO -- Investors globally are rushing toward low-risk bonds amid dull U.S. and Chinese economic performance and the lowest commodity prices in 12 years. Yields on new 10-year Japanese government bonds dropped to a two-month low of 0.385% Tuesda...

  • Hawk-watching at the BOE

    Minutes may show UK policymakers tilting toward rate hike

    TOKYO -- All eyes will be on the Bank of England on Thursday, when some expect the minutes from this week's Monetary Policy Committee meeting to show growing support for raising interest rates. The August minutes, together with the central bank's...

  • Improved credit outlook

    Indonesia to issue nonguaranteed samurai bonds

    TOKYO -- The Indonesian government will issue its first nonguaranteed samurai bonds in more than three decades amid an improved credit outlook. Indonesia will raise about 100 billion yen ($799 million) in the Japanese market, with plans to use th...

  • US territory in crisis

    Puerto Rico on brink of default, wants debt restructuring

    NEW YORK -- Puerto Rico is set to default on a $58 million repayment Monday, escalating the debt crisis in the troubled U.S. territory. Moody's Investors Service said the commonwealth's Public Finance Corporation is unlikely to make the $58 milli...

  • GIC report

    Fund well-placed for 'uncertain' investment climate

    SINGAPORE -- GIC, Singapore's younger sovereign wealth fund after Temasek Holdings, has reported a 4.9% average annual real rate of return over the two decades ended March 31, up from the 4.1% posted last year and its best result since the 2007-08 gl...

  • JGBs fall after discouraging BOJ debt purchase result

    TOKYO (Dow Jones) -- Japanese government bonds fell Wednesday after the result of a Bank of Japan debt purchase operation suggested slightly weaker demand for government securities. The BOJ's offer to buy JGBs with maturities of over 25 years dre...

  • China stocks slump in early trade despite regulators' pledge of more support

    SHANGHAI (Reuters) -- China stocks slumped further on Tuesday morning after their worst single-day drop in more than eight years in the previous session, shrugging off Beijing's promises of more support for the market. Stock regulators said late ...

  • China-Japan thaw

    China state bank picks first Japanese lead manager in 5 years

    SHANGHAI -- The state-owned China Development Bank has chosen Japan's Bank of Tokyo-Mitsubishi UFJ as one of the lead managers for its forthcoming dollar bond issuance. The policy lender, 100% owned by the Chinese government, is said to strongly ...