Asia Pacific

Inflation has returned to the country for the first time in 30 years. As it does so, there is a new face at the helm of the Bank of Japan. What does it mean for the megabanks?

Don’t expect a flood of IPOs, but there are still placements across Asia Pacific.

From small beginnings as the offshoot of a British merchant bank in 1969, Macquarie has become the world’s largest infrastructure asset manager, a powerful investment bank, a global commodities player and several other things besides. It has built all of this through a distinct culture built on risk management, individual empowerment and a capacity for constant reinvention – but it hasn’t always been popular along the way. A new book by Euromoney’s senior editor in Asia Chris Wright and Joyce Moullakis examines the journey.

The whereabouts of investment banker Bao Fan are unknown just when China wants to attract foreign talent and capital, not deter it.

A day-by-day account of Adani’s stunning collapse in value.

A two-week period saw Adani Group attacked by a short seller, abandon a $2.5 billion share offer and lose $100 billion in market value. What next? And what does it mean for Modi’s India?

The desire among political and financial leaders in Beijing to climb the value chain in development finance is clear. But the challenges now facing a giant Chinese state-run infrastructure contractor at Nigeria’s new deep-water port in Lekki show that this is easier said than done.

Yet another multi-billion-dollar loss on investments in SoftBank’s Vision Funds speaks to a malaise that is hurting the tech teams of investment banks in Asia.

A report by a US short-seller hammered the stock of India’s Adani Group companies just as one of them tried to raise $2.5 billion in a follow-on. It was not just Adani under attack here, but Modi’s vision of corporate India.

While big US banks edge slowly towards exchange-like trading of loans, a group of market veterans have tested a system in Asia and will soon launch in Europe.

Last year, a connected cluster of village banks in the central province of Henan suffered one of China’s worst financial scandals in years. Beijing’s reaction: to create a new state bank that will take stakes in rural financial and credit institutions with the aim of spotting and weeding out corruption and improving financial governance.

The southern Chinese city has set out ambitious plans to become one of the world’s top wealth-management centres. With one of China’s largest onshore pools of private wealth, there is everything to play for.

Can the early volumes be sustained through the year?

Initial public offerings by Chinese firms are Hong Kong’s lifeblood, yet they were rarer than hen’s teeth in 2022. For deal flow to return, China must open up. Buckle up: things could get bumpy.

It’s the time of year for feng shui market predictions.

The Greater China CEO represents a loss of seniority, experience and gravitas. And his is not the only exit from the Swiss bank’s Asia operations.

The death of Teh Hong Piow, the founder of Malaysia’s Public Bank, marks the end of a distinguished banking life.

The Australian Securities Exchange took a leap of faith in commissioning Digital Asset to build a blockchain replacement for its clearing and settlement engine five years ago – perhaps too big a leap. Here, Digital Asset’s CEO explains what went wrong and what was learned.

Three years ago, LTS Ventures was tasked with building a simple microfinance platform for Laos’s army of village banks and savings unions. It took off like a rocket, boosting financial inclusion, cutting fraud. Now the firm is eyeing fresh external funding and expansion across southeast Asia.

Maharlika Investments Fund looks like it will be a development vehicle that takes Indonesia for inspiration.

Beijing recently ordered its state banks, including ICBC and Bank of China, to plough $162 billion worth of fresh credit into the country’s troubled property sector. In doing so, they look not proactive but panicky. A negative hit on lenders’ profits is inevitable.

China is stuck. It has spent three years trying to keep Covid at bay, but now irate citizens have spilled onto the streets, questioning the competency of president Xi Jinping, and calling for an end to restrictions – just as transmission rates spike.

China Investment Corporation’s annual reviews are always out of date, but they provide clues to what is happening now.

The purchase of Home Credit’s businesses in the Philippines and Indonesia fits with a trend to seek growth outside Japan.

In a highly unusual step, Singapore’s sovereign wealth vehicle has spelled out how and why it bought into the FTX story.

Saving the planet requires shutting down coal plants while also ensuring the livelihood of the people who depend on them. The ADB has a plan.

HSBC’s outgoing CFO, Ewen Stevenson, has mounted a robust case for the bank’s cost performance in an intriguing call with analysts that also featured an appearance by his replacement, Georges Elhedery. As he prepares to leave the bank, Stevenson defended his legacy by taking on the firm’s arch-critic, Ping An.

Words fail Euromoney at the mighty event.

Last week’s financial summit aimed to show investors Hong Kong is open for business. While well attended, it also served as a reminder of how closed off the financial hub has become and how much of its lustre has been lost.

Market experts fear that continued inflation and poor growth mean that many currencies are vulnerable to the pressure that the UK has seen recently.