Tough going in China has global investment banks looking abroad

India and Japan emerge as alternatives, helped by strong stock markets

International investment banks are increasingly shifting their attention to other markets in Asia besides China, but there are none that offer its sheer size. © Reuters

ECHO WONG, Nikkei staff writer

December 29, 2023 15:04 JST

HONG KONG -- Global investment banks are looking beyond China, as their advisory businesses in Asia's biggest economy take a hit from a slowing deal activity and the rise of local competition.

But while Japan and India are emerging as appealing alternatives, industry players and observers warn that offsetting the slowdown in China will not be easy.