Gaming capital stocks fall 41%; gambling revenues down 30%.

A flurry of new deals points to an exciting new business possibility for Apac banks in 2015.

The Hong Kong-Shanghai Stock Connect, which was launched amid much fanfare on November 17, has triggered a jump in CNH-funded arbitrage opportunities. However, rising Stock Connect volumes and easing by the People’s Bank of China – triggering a convergence between onshore and offshore rates – will remove current funding advantages.

The eagerly awaited Stock Connect system connecting Hong Kong to the mainland is up and running to relief all round. While traditional long-only funds and southbound flows have lagged, market players foresee a new dawn in Chinese equity trading.

Backed by its robust trading relationship with China, the east Asian nation is the latest fledgling offshore renminbi hub. Market participants shed light on South Korea’s renminbi bid as internationalization of the Chinese currency gathers pace.

The latest results from the Euromoney Country Risk survey point to an unprecedented rise in risk across almost all geographical regions since June, with emerging markets (EMs) taking the biggest hit as doubts over China, the eurozone and US liquidity support weigh heavily on experts’ evaluations.

The surge in China-related trade financing might not be as encouraging as the pure numbers indicate.

Alibaba lists on NYSE; deal might free up pipeline.

Incensed by their failure to reform, Brics policymakers have established a flawed rival to the World Bank and IMF. Rhetoric aside, the west dismisses emerging-market dissent over the broken financial architecture at its peril.

The debut issue of a five-year $1 billion sukuk this week is a statement of intent from Hong Kong that it is serious about Islamic finance, sending a strong signal to rival financial centres.

Sanctions overs the conflict in Ukraine have closed off western capital markets to some Russian companies, giving Asia an opportunity to take a greater role. But an easy ride in the east is not guaranteed.

The weakness of the Chinese market has prompted the Asian real estate industry to look elsewhere for returns in 2014.

Bets of a re-peg of the Hong Kong dollar have resurfaced in the currency markets as the Hong Kong Monetary Authority (HKMA) intervened to inject dollar liquidity to the tune of $9.86 billion several times since July 1 on the back of large inflows into Hong Kong during the past few months.

The survey is a measure of overall service quality for gold investing for individuals in China.

Shanghai gold exchange overall across regions:

Paper products overall across regions:

Structured products overall across regions:

Physical gold overall across regions:

Overall across regions and products:

New system connects Shanghai and HK markets; regulations need to catch up.

China’s banking risks have tripled in one year amid a decline in market capitalization for the sector and a rise in debt issuance, as fears over the shadow-banking system grow, according to the latest projections from a systemic risk index, Euromoney can reveal.

Authorities more strident on standards; wealth fund criticized for lack of due diligence.

Joint investment fund undertakes new deals; Kazakhstan’s nationalized bank sell-offs set to go.

Hopes that Russian issuers can fund all their needs in Asia’s markets are likely to be misplaced. But it will become a more important market for them, sanctions or not.

How rising US short-term rates would complicate China’s credit challenge amid fears that a second, bank-led wave of outflows from emerging markets could be on the horizon.

The sharp jump in cross-border lending to China in recent years means capital controls are de facto broken. As a result, Beijing faces the “impossible trinity” – an inability to manage exchange rates, monetary policy and allow for free movement of capital, all at the same time. China faces an renminbi-policy crisis just as much as a potential credit crisis.

Euromoney asked the CIOs and strategists of the leading private banks: are you adding or taking away China risk in your portfolios?

Deal priced at bottom of range; Alibaba finally chooses New York over HK

Most have followed their clients’ businesses abroad. Now it’s time for them to learn the lesson of Alibaba’s listing in New York and become true international finance players.

Two banking upstarts are resetting the relationships the Chinese have with their boring old state lenders by being convenient and readily understood. Even better, they pay great rates. But the incumbents aren’t taking this new threat lying down.