290 results on '"CAPITAL market"'
Search Results
2. Impact of COVID-19 lockdowns on retail stock trading patterns.
- Author
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Sigalas, Christos
- Subjects
STOCKS (Finance) ,STAY-at-home orders ,COVID-19 pandemic ,RETAIL industry ,CAPITAL market - Abstract
The purpose of this paper is to explore the impact of the first wave of COVID-19 lockdowns on retail stock trading patterns, at a transnational level. Cross-sectional empirical research was utilized with five samples of public companies from the US, Europe, Asia, and blended equity capital markets globally. The impact of the first wave of COVID-19 lockdowns on stock trading patterns was investigated using median tests and the factors that influence retail stock trading were explored with regression analyses. Contrary to the conventional proposition that stock trading activity is reduced during times of crisis, the results of this study indicate that retail stock trading increased during the first wave of COVID-19 lockdowns. In addition, the findings raise awareness of the risks to novice retail investors associated with the increased stock trading due to herd behavior. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
3. Can private credit help to bridge Asia's funding gap?
- Author
-
Lee, Peter
- Subjects
BANK loans ,INVESTMENT risk ,BUSINESS development ,LOANS ,INVESTORS ,CAPITAL market ,SYNDICATED loans - Abstract
Private credit is often seen as a risky and opaque asset class, but in Asia, there is hope that it can help bridge the significant financing gap in the region. Private credit has grown rapidly in recent years, reaching around $1.7 trillion in assets under management. While higher interest rates pose a threat to borrowers, private credit funds are generally less vulnerable than banks due to their lower leverage. In Asia, where banks provide 79% of credit, private credit remains an underdeveloped market compared to private equity. However, there is a growing recognition of the need for private credit to support smaller mid-market companies and fill the financing gap in the region. [Extracted from the article]
- Published
- 2024
4. Nomura Reshuffles Asia Investment Bank, Cuts Jobs in Slump.
- Author
-
Chan, Cathy and Li, Pei
- Subjects
INVESTMENT banking ,BANK investments ,LAYOFFS ,CAPITAL market ,BANK management - Abstract
Nomura Holdings Inc. is making changes to its Asia investment-banking team and cutting jobs in response to a slowdown in deals in China and Hong Kong. The head of investment banking for Asia excluding Japan, Patrick Kwan, is leaving the firm and will be replaced by Jwalant Nanavati. About 10 bankers are expected to be laid off, including managing directors Johnson Chui and Marcella Chan. This move follows similar job cuts by other global banks in the region due to geopolitical tension and tighter control of the economy by the Communist Party. Nomura plans to double its profit by the end of the decade by focusing on other areas such as trust banking and investment management. [Extracted from the article]
- Published
- 2024
5. Franklin Templeton appoints private banks head, Asia.
- Author
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Dalal, Manju
- Subjects
PRIVATE banks ,OFFICES ,REGIONAL banks ,CAPITAL market ,PRIVATE equity - Abstract
Franklin Templeton has appointed Gaurav Bathija as the head of private banks and family offices. Based in Singapore, Bathija will work closely with local teams in Singapore and Hong Kong to deepen the firm's engagement with existing clients and develop new relationships with global and regional private banks and high-net-worth channels. Bathija brings over 25 years of experience in capital markets, private equity, and private banking, having previously worked at BNP Paribas Wealth Management and JP Morgan Private Bank. [Extracted from the article]
- Published
- 2024
6. COVID‐19, asset markets and capital flows.
- Author
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Beirne, John, Renzhi, Nuobu, Sugandi, Eric, and Volz, Ulrich
- Subjects
CAPITAL movements ,COVID-19 ,CAPITAL market ,FINANCIAL market reaction ,COVID-19 pandemic ,EMERGING markets - Abstract
This paper empirically examines the reaction of global financial markets across 38 economies to the COVID‐19 outbreak, with special focus on the dynamics of capital flows across 14 emerging market economies. The effectiveness of fiscal and monetary policy responses to COVID‐19 is also tested. Using daily data over the period January 4, 2010 to August 31, 2020, and controlling for a host of domestic and global macroeconomic and financial factors, we use a fixed effects panel approach and a structural VAR framework to show that emerging markets have been more heavily affected than advanced economies. In particular, emerging economies in Asia and Europe have experienced the sharpest impacts on stock, bond and exchange rates due to COVID‐19, as well as abrupt and substantial capital outflows. Quantitative easing and fiscal stimulus packages mainly helped to boost stock prices, notably for advanced and emerging economies in Asia. Our findings also highlight the role that global factors and developments in the world's leading financial centers have on financial conditions in EMEs. Importantly, the impact of COVID‐19 related quantitative easing measures by central banks in advanced countries extended to EMEs, with significant positive spillovers to EME stock markets in Asia, Europe and Latin America. Going forward, while the ultimate resolution of COVID‐19 may be expected to lead to a market correction as uncertainty declines, our impulse response analysis suggests that there may be persistent effects on bond markets in emerging Europe and on EME capital flows. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
7. Hong Kong Stocks Jump, Leading Asia in Catch-Up Rally.
- Subjects
CAPITAL market ,PORTFOLIO management (Investments) - Abstract
Hong Kong stocks experienced a jump in value, leading gains in Asia, due to optimism surrounding potential Chinese capital market reforms and a catch-up to regional advances. The Hang Seng China Enterprises Index saw a significant increase, with technology giants Meituan and Tencent Holdings Ltd. contributing to the gauge's first gain in four sessions. The rebound in Hong Kong shares is seen as a catch-up to gains in other markets, as they had previously declined for three straight sessions. Additionally, there is anticipation of positive policies and reforms for banks regarding shareholder returns at the annual Lujiazui Forum in Shanghai. Despite today's gains, the HSCEI is still down about 4% this month compared to a more than 7% advance in the MSCI Asia Pacific Index. [Extracted from the article]
- Published
- 2024
8. HSF's new round of promotions in Asia.
- Author
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Dalal, Manju
- Subjects
CAPITAL market ,BOND market ,COMMERCIAL crimes ,STOCKS (Finance) ,CRIMINAL investigation - Abstract
Herbert Smith Freehills (HSF) has announced the promotion of six counsel in Asia as part of a global promotion round of 34 new counsel. The promotions are effective from May 1, 2024, and the new counsel are based in Bangkok, Hong Kong, Singapore, and Tokyo. The areas of expertise for the new counsel include capital markets, commercial litigation, financial services regulation, corporate crime and investigations, debt capital markets, and energy. HSF has also promoted ten support professionals in Australia. Prolegis, a Formal Law Alliance partner of HSF, is involved in the promotion in Singapore. [Extracted from the article]
- Published
- 2024
9. India Leads First Asia Junk Dollar Bond Sales Rise in Five Years.
- Author
-
Karve, Ameya and Patil, Divya
- Subjects
BONDS (Finance) ,BOND prices ,INVESTORS ,CAPITAL market ,JUNK bonds ,CONSUMPTION (Economics) ,INDIAN rupee ,BOND market - Abstract
Asia's high-yield dollar bond sales have increased for the first time in five years, driven by Indian financial companies seeking offshore investors. Sales of corporate notes in the region, excluding Japan, have already reached $5.6 billion this year, surpassing the total for 2023. Indian borrowers have accounted for nearly 41% of the sales, reflecting investor confidence in India's growth and consumer demand. The rise in sales contrasts with the decline in China's property crisis, which affected the junk dollar bond market in recent years. However, the outlook for the rest of 2024 is uncertain, with offerings potentially slowing down if the bearish trend in US Treasury yields continues. [Extracted from the article]
- Published
- 2024
10. LBBW appoints Greene to head Asia DCM.
- Author
-
Dalal, Manju
- Subjects
EXECUTIVES ,CAPITAL market ,BOND market - Abstract
Landesbank Baden-Württemberg (LBBW) has appointed Lorna Greene as the managing director of its debt capital markets team for the Asia-Pacific region. The appointment was announced on social media and Greene will report to Jens Ruebbert, the managing director and regional head for APAC. LBBW has been expanding its business in Asia and sees this appointment as a way to further boost its activities. Greene has over 18 years of experience in the capital markets with international lenders such as Commerzbank and Depfa Bank. She joins LBBW from the National Bank of Australia where she was the head of capital markets. [Extracted from the article]
- Published
- 2024
11. Asia is Home to Most 2024 IPO Debuts With India Taking the Lead.
- Author
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Pacheco, Filipe
- Subjects
GOING public (Securities) ,CLEAN energy ,STOCKS (Finance) ,CAPITAL market ,METAL cutting ,CUTTING machines - Abstract
According to data compiled by Bloomberg, the majority of initial public offerings (IPOs) this year have taken place in the Asia Pacific region, with India leading the way. Out of the 38 global listings in the past two weeks, 34 were in Asia Pacific, while the Americas had three, the Middle East had one, and Europe had none. India has been particularly active, with companies taking advantage of high valuations and strong earnings prospects. Experts predict that India will continue to be one of the most active IPO markets in the region throughout the year. [Extracted from the article]
- Published
- 2024
12. Cross-Border Asset Pledgeability for Enhanced Financial Stability.
- Author
-
Gongpil Choi
- Subjects
- *
CREDIT ratings , *ASSETS (Accounting) , *FOREIGN exchange , *CAPITAL market , *MARKETING strategy - Abstract
Even with the sizable Foreign Exchange (FX) holdings and good credit ratings of its top assets, Asia remains vulnerable to various shocks. This paper highlights the limited crossborder asset pledgeability as a significant factor for the lingering vulnerability in Asia. The dichotomy in asset holdings between pledgeable FX and non-pledgeable domestic assets in major economies in Asia has been the source of increasing stabilization costs as well as weakened market momentum in the region. Specifically, the peculiar feature of asset holdings in Asia reflects seriously deficient cross-border asset pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital market development by recognizing the role of collateral, 2) increased shock absorption capacity via collateral management, 3) and the newly activated safe asset provision. Therefore, it is crucial to go beyond the usual market development strategy and expand the overall asset pledgeability in the region that has remained unduly depressed. Even with the sizable Foreign Exchange (FX) holdings and good credit ratings of its top assets, Asia remains vulnerable to various shocks. This paper highlights the limited crossborder asset pledgeability as a significant factor for the lingering vulnerability in Asia. The dichotomy in asset holdings between pledgeable FX and non-pledgeable domestic assets in major economies in Asia has been the source of increasing stabilization costs as well as weakened market momentum in the region. Specifically, the peculiar feature of asset holdings in Asia reflects seriously deficient cross-border asset pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital market development by recognizing the role of collateral, 2) increased shock absorption capacity via collateral management, 3) and the newly activated safe asset provision. Therefore, it is crucial to go beyond the usual market development strategy and expand the overall asset pledgeability in the region that has remained unduly depressed. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
13. Public and Private Enforcement of Corporate and Securities Laws: An Empirical Comparison of Hong Kong and Singapore.
- Author
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Wan, Wai Yee, Chen, Christopher, and Goo, Say H.
- Subjects
- *
FINANCIAL crises , *CAPITAL market , *CORPORATION law , *SECURITIES , *COLLATERAL security - Abstract
Current scholarship emphasises the correlation between enforcement of corporate and securities laws and strong capital markets. Yet, the issue of how private and public enforcement may achieve the objectives of compensation and optimal deterrence remains controversial. While enforcement strategies have been studied extensively in the US and the UK, comparatively less attention is placed on Asia, where concentrated shareholdings are the norm. This study fills the gap by focusing on Hong Kong and Singapore, two leading international financial centres in Asia. Post Asian financial crisis of 1997, Hong Kong and Singapore have changed their laws to strengthen the private enforcement framework. Public enforcement activities have also been significant. The question is whether these reforms and enforcement activities succeed in reaching the afore-mentioned objectives. Based on our study of ex post enforcement actions, which are actions that may lead to sanctions (such as prosecutions or administrative proceedings) or compensation orders, arising from breaches of directorial duties and corporate disclosure violations involving listed companies from 2000 to 2015, we find that (1) public enforcement dominates over private enforcement; and (2) there are important, but limited, substitutes for private enforcement: securities regulators use public enforcement to obtain compensation for investors, and shareholders file requisitions to remove errant directors. We argue that: (a) there is a significant gap in enforcement strategies for directorial wrongdoing in Singapore; (b) for public enforcement of corporate disclosure violations, the beneficiaries of the compensation should be the investors (rather than the company) and the defendants should only be the errant directors (and not the company). Our study is relevant to those jurisdictions considering the powers of regulators and improving their enforcement framework. [ABSTRACT FROM AUTHOR]
- Published
- 2019
- Full Text
- View/download PDF
14. Nikko in Talks to Buy Tikehau Stake, Form Partnership in Asia.
- Author
-
Brown, Silas and Wijaya, Megawati
- Subjects
MERGERS & acquisitions ,JOINT ventures ,CAPITAL market ,MARKETING strategy - Abstract
Nikko Asset Management is in discussions to acquire a stake in French asset manager Tikehau Capital and establish a partnership in Asia. The deal would involve a distribution agreement in Japan and other parts of Asia, as well as a joint venture in private markets investment strategies in the region. The specific details of the acquisition, such as the stake amount, have not been disclosed. This partnership reflects the growing interest in Asian private capital markets among established asset managers worldwide, as Asia is seen as the next frontier for private capital. [Extracted from the article]
- Published
- 2023
15. Success Factors of Financial Derivatives Markets in Asia.
- Author
-
Sittisawad, Trin and Sukcharoensin, Pariyada
- Subjects
DERIVATIVE securities ,MARKET volatility ,STOCK exchanges ,CAPITAL market ,SECURITIES trading volume - Abstract
The objective of this study is to investigate the success factors of financial derivatives markets in Asia. The selected countries include Thailand, Malaysia, Singapore, South Korea, Japan and Hong Kong. The success factors of financial derivatives markets in Asia are examined by employing the panel regression. The empirical results show that size, volatility, and liquidity of spot market are significant factors for the success of financial derivatives markets in sample countries. Further, tick size, contract size, and option-type also enhance trading volumes while product age is not statistically significant. The results from this study provide important implications in developing the financial derivatives market which plays an important role in the capital market. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
16. International Capital Movement and Monetary Independence in Asia.
- Author
-
Nanovsky, Simeon and Kim, Yoonbai
- Subjects
INTEREST rates ,PRIME rate ,FOREIGN exchange rates ,CAPITAL movements ,CAPITAL market - Abstract
In this paper, we investigate the extent of monetary independence in a group of ten Asian countries: China, Malaysia, Japan, India, Indonesia, Philippines, Thailand, Korea, Singapore, and Hong Kong. While the traditional investigation has considered only the bivariate relationship between the home interest rate and the base rate, we employ both single-equation and vector autoregressive representations of the bivariate and the trivariate relationship including the desired (or optimal) interest rate. We find in most countries, that the ranking of monetary independence is relatively consistent across the models and methodologies although model specifications produce important differences for some countries such as Japan, Indonesia, and India. Trilemma suggests that a country cannot accomplish all three policy objectives: monetary independence, exchange rate stability, and free capital mobility. To increase monetary independence a country must choose between greater exchange rate flexibility or a lower degree of capital mobility. The fact that China and Malaysia, the two countries that are known to have imposed the strictest capital controls, consistently rank high in various scenarios while Hong Kong, which has maintained nearly the freest regime in capital markets, is lowest in monetary independence, indicates that perhaps capital controls may play a more important role than does exchange rate flexibility in securing independence in monetary policy making. On the other hand, countries that maintain greater exchange rate stability do not necessarily rank low, unless it is combined with greater capital mobility as in the case of Hong Kong. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
17. The cost of debt and the characteristics of audit firms.
- Author
-
Woo, Yong-Sang, Kang, Minjung, and Lee, Ho-Young
- Subjects
STOCK prices ,BANKRUPTCY ,INVESTMENTS ,CAPITAL costs ,CAPITAL market - Abstract
Purpose Audit firm bankruptcy can have significant negative impacts on the stock prices of client firms. The purpose of this paper is to identify determinants of audit firm bankruptcy risk as measured by costs of debt.Design/methodology/approach Using audit firm data publicly available in Korea, this study empirically examines whether client portfolio, financial, and organizational characteristics are associated with the weighted average interest rates assumed by auditors.Findings The authors find empirical evidence that audit firms’ client portfolio characteristics, including the incidence (or number) of lawsuits against the auditor, the proportion of audit clients under surveillance, the proportion of initial audit engagements, and the proportion of listed companies of audit clients, are positively associated with the cost of debt. The authors also find several financial and organizational characteristics associated with the cost of debt.Practical implications The findings of this study suggest that client portfolio characteristics as well as financial and organizational characteristics are important determinants of the cost of debt in audit firms, and that these characteristics are different from those of firms in other industries. Identifying the determinants of audit firms’ cost of debt provides insight to regulators, client firms, and capital market participants.Originality/value This study examines the default risk of audit firms that play an important monitoring role in capital markets. By utilizing unique data about audit firms available in Korea, this study is the first study to empirically examine the effect of detailed audit firm characteristics on audit firm’s default risk. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
18. Assessing venture capital industry growth in Korea.
- Author
-
Chung, Hae Jin and Kang, Moon Young
- Subjects
VENTURE capital ,CAPITAL market ,INVESTMENTS ,ECONOMIC development ,TECHNOLOGICAL innovations - Abstract
Purpose The purpose of this paper is to investigate how the venture capital industry evolves in Korea. The paper also compares the venture capital industry growth of Korea with that of the USA.Design/methodology/approach This paper forecasts the growth of the Korean venture capital industry using the Bass Model. The authors apply the Bass Model to both Korean and US data to compare the model estimates of Korean and US data, and to make use of the US case by taking the “guess by similarity” approach to analyze Korean venture capital industry growth.Findings The authors find that the innovative fund inflows in Korea are stronger than those in the USA, while inertial reinvestments are weak. The study forecasts that new investments in Korea grow at a 5-7 percent rate each year for the next five years, and the growth rate slows down over time. Peak investment is predicted around the year 2030.Practical implications Based on the forecasted venture capital investment schedule each year, this study derives the fundraising schedule and the implications for Korea fund-of-funds management to match the investment schedule.Originality/value The model estimates provide a guideline for forecasting venture capital industry development in countries with brief histories of venture capital, which lack data. The analysis can also be applied to cases when developing countries and emerging financial markets assess the impact of government interventions on venture capital industry growth, especially when they provide fund-of-funds. [ABSTRACT FROM AUTHOR]
- Published
- 2018
- Full Text
- View/download PDF
19. Adani in Talks for $3.5 Billion, One of Top Asia Loans This Year.
- Author
-
Das, Saikat
- Subjects
LOANS ,BUSINESS enterprises ,BANK loans ,SYNDICATED loans ,CAPITAL market - Abstract
The Indian conglomerate backed by billionaire Gautam Adani has been in talks with lenders for several months as it seeks to refinance as much as $3.8 billion worth of debt taken for its Ambuja acquisition. (Bloomberg) -- Adani Group is in talks with banks to refinance debt taken on to fund its purchase of Ambuja Cements Ltd, with lenders divided into three categories in what could be one of Asia's largest syndicated loan deals of the year. [Extracted from the article]
- Published
- 2023
20. UBS Co-Head of Asia ECM Syndicate Agostinelli Is Leaving, Sources Say.
- Author
-
Pacheco, Filipe
- Subjects
STOCKS (Finance) ,BANKERS ,CAPITAL market - Abstract
The Hong Kong-based banker's fellow co-head Kevin Cui will become sole head for Asia ECM syndicate, one of the people said, asking not to be identified as the information is private. (Bloomberg) -- UBS Group AG co-head of equity capital markets syndicate for Asia Carlo Agostinelli is leaving the bank, according to people familiar with the matter. [Extracted from the article]
- Published
- 2023
21. The new face of developing country debt.
- Author
-
Culpeper, Roy and Kappagoda, Nihal
- Subjects
- *
PUBLIC debts , *ECONOMIC development , *FINANCIAL crises , *PROGRESS , *DEBT relief , *LOW-income countries , *CAPITAL market , *HISTORY , *TWENTIETH century , *ECONOMICS , *INTERNATIONAL cooperation , *GOVERNMENT policy ,ECONOMIC conditions in developing countries ,DEVELOPING countries - Abstract
Developing country debt has been a major preoccupation for development policy makers and practitioners since the debt crisis of 1982. It is a major obstacle to economic and social progress in developing countries. After the resolution of the Asian financial crisis of the late 1990s and the debt relief initiatives for low-income countries of 1997–2006 concerns about developing country debt seem to have receded. However, there are a growing number of problems that warrant concern, including the accumulation of domestic debt, short-term debt and private non-guaranteed debt, and increasing recourse by low-income countries to international capital markets. At the same time developing countries have strengthened their capacity to oversee and analyse their debt portfolios. Nonetheless, significant weaknesses remain in debt management capacity at the national level. Moreover, the activities of ‘vulture funds’ and the lack of a sovereign debt restructuring mechanism reveal major shortcomings in the international institutional architecture that need to be addressed urgently. [ABSTRACT FROM PUBLISHER]
- Published
- 2016
- Full Text
- View/download PDF
22. Impact of International Financial Reporting Standards on Stock Price Synchronicity for Asian Markets.
- Author
-
Patro, Archana and GUPTA, V. K.
- Subjects
- *
STOCK prices , *INTERNATIONAL Financial Reporting Standards , *STOCK exchanges , *ECONOMIC development , *CAPITAL market - Abstract
Stock price synchronicity since the adoption of International Financial Reporting Standards (IFRS) has been significant due to its strong relationship with the economic development and capital market stability of a country. Using data from 2006-2011, the study examines whether the mandatory adoption of IFRS reduces stock price synchronicity in the Asian context. The study utilizes a sample of 1,800 firm-year observations for firms in four Asian markets--China, Hong Kong, Israel, and the Philippines--where IFRS have been mandatory since 2009. The empirical model, relating to stock price synchronicity with the adoption of IFRS, and other firm-specific control variables were analysed using both univariate and multivariate techniques. Different types of panel data estimates were used and compared so as to interpret the results with the best-suited parameters for different data sets for different markets. The empirical results support the argument that, for all four markets considered, IFRS adoption improves the information environment through the capitalization of firmspecific information into stock prices, thereby reducing the stock price synchronicity. Along with IFRS adoption, other firm-specific control variables are found to have significant influence on stock price synchronicity, such as cross-listings in foreign stock exchanges in China and Philippines, the Herfindahl index in Hong Kong, and the percentage of foreign sales in Israel. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
23. COLLATERAL CONSTRAINTS AND THE CURRENT ACCOUNT: THEORY AND EVIDENCE.
- Author
-
Kunieda, Takuma, Okada, Keisuke, and Shibata, Akihisa
- Subjects
- *
FINANCIAL crises , *BALANCE of payments , *CAPITAL market , *FINANCIAL services industry ,ECONOMIC conditions in Asia - Abstract
We investigate the impact of domestic financial frictions on the current account dynamics in Asian countries before and after the Asian financial crisis in 1997-1998 by introducing collateral constraints into the intertemporal current account approach. We examine six Asian countries. Before the crisis, collateral constraints significantly impact the current account in Korea, Malaysia, the Philippines, and Thailand, but after the crisis, they do not. Our study shows that the impact of domestic financial frictions on the current account changes before and after a financial crisis. ( JEL F32, F41) [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
24. Asia's 1997 Playbook Comes in Handy Amid Global Banking Turmoil.
- Author
-
Jiao, Claire
- Subjects
FINANCIAL crises ,BANKING industry ,CAPITAL market ,INTEREST rates ,BANKING laws - Abstract
In the Philippines, lenders and conglomerates are now led by people who were there in 1997 and recall how quickly liquidity dried up when so-called "hot money" fled the country, central bank Governor Felipe Medalla said. Authorities have borrowed lessons from the turmoil in 1997 and even the 2008 global financial crisis that wiped out Southeast Asia's markets and sent their currencies diving, according to Indonesian Finance Minister Sri Mulyani Indrawati, who co-chaired the bloc's meeting. (Bloomberg) -- Hard-earned lessons from the 1997 Asian financial crisis are helping insulate the region from the banking stress being experienced in the US and Europe. [Extracted from the article]
- Published
- 2023
25. Digital Realty and Options Technology expand partnership in Asia.
- Subjects
BUSINESS partnerships ,CAPITAL market - Abstract
Digital Realty has extended its partnership with Options Technology, a capital markets services provider. [ABSTRACT FROM AUTHOR]
- Published
- 2023
26. Asia Kicks Off 2023 Holding Top Position for IPOs, Placements.
- Author
-
Pacheco, Filipe
- Subjects
GOING public (Securities) ,CAPITAL market ,STOCKS (Finance) ,STOCK exchanges - Abstract
As the country reopens its borders, bankers are optimistic that more offerings will return to Hong Kong, while share sales by Chinese companies onshore and in Europe are expected to steadily increase. In Hong Kong, educational services provider Fenbi Ltd. rose as much as 17% on Monday in the financial hub's first trading debut of the year. (Bloomberg) -- Equity sales in Asia Pacific kicked off the year at a busier pace than elsewhere in the world, indicating the region's retention of its dominance as the busiest spot for equity capital market activity this year. [Extracted from the article]
- Published
- 2023
27. Introduction to the special issue on the Korean financial markets.
- Author
-
Lee, Hongbok and Park, Kwangwoo
- Subjects
FINANCIAL markets ,CAPITAL market ,ECONOMIC history ,ECONOMIC development - Published
- 2018
- Full Text
- View/download PDF
28. Inter-Linkages between Returns from Stock Exchanges of South Asia.
- Author
-
SHARMA, GAGAN DEEP and BODLA, B. S.
- Subjects
STOCK exchanges ,RATE of return ,CAPITAL market - Abstract
Internationalization of capital markets offers diversification opportunities to the investors. This generates interest in the study of interlinkages among stock markets. The present paper studies the inter-linkages between stock markets of India, Pakistan, Bangladesh, Nepal and Maldives. Daily closing levels of the benchmark indices in the three countries are taken for a period of July 2004 to June 2010. Line charts, correlogram and unit-root test are applied to check the stationary nature of the series. Granger's causality, Vector Auto Regression (VAR) and Variance Decomposition Analysis are performed to find out the linkages between the markets under study. The paper finds that the returns at National Stock Exchange (India) and Colombo Stock Exchange (Sri Lanka) are inter-linked. Other than India-Sri Lanka vector, the linkages between the South Asian stock exchanges are not confirmed, which means that the opportunities for diversification do exist in the South Asian region. [ABSTRACT FROM AUTHOR]
- Published
- 2015
29. Integration between East and Southeast Asian equity markets.
- Author
-
Arsyad, Nuruzzaman
- Subjects
CAPITAL market ,MONETARY policy ,STOCK exchanges ,INTERNATIONAL economic integration - Abstract
Purpose - This paper aims to seek to find answers to three questions. First, is there any possibility of long-term cointegration between East and Southeast Asian equity markets? If so, how many cointegrating equations are there? Second, what are the short-term causal relationships between equity markets in East and Southeast Asia? Third, what is the East Asia's most influential equity market toward their Southeast counterparts, and vice versa? Design/methodology/approach - This study uses Johansen's (1988) cointegration method to test long-run relationships among East and Southeast Asian equity markets. With regards to short-run causal relationships, this study uses Granger-causality test as well as the forecast variance decomposition method. Findings - Johansen test proves that there is cointegration between East and Southeast Asian equity markets, but the integration process is not complete. Cointegrating vector also provides evidence that member countries of ASEAN+3 respond differently to external shocks. With regards to short-run causal direction, this study finds that Japan Granger-causes all equity markets in Southeast Asia, while Singapore and Vietnam Granger-cause all equity markets in East Asia. These results imply that Japan is the market with most linkages in Southeast Asia, while Singapore and Vietnam are the markets with most linkages to East Asia. Furthermore, forecast variance decomposition reveals that Japan is the East Asia's most influential equity markets, while Singapore is the most influential equity market in Southeast Asia. This study suggests that policymakers in East and Southeast Asian countries to synchronize the capital market standards and regulations as well as to reduce the barriers for capital mobility to spur the regional equity market integration. Research limitations/implications - Increasing integration of East and Southeast Asian capital markets forces policymakers in ASEAN+3 countries to synchronize monetary policies, as it has been found that regionally integrated capital markets reduce the degree of independent monetary policy (Logue et al., 1976). It is therefore important for policymakers in East and Southeast Asian countries to assess the possibility of stock market integration within this region to anticipate the future risks associated with economic integration as well as to build collective regional institutions (Wang, 2004). Click and Plummer (2005) also argued that integrated stock markets is more efficient than nationally segmented equity markets, and the efficiency of Asian capital markets has been questioned in particular after the 1997 Asian financial crises. Yet, the empirical evidence on the extent of financial integration among ASEAN+3 member countries has been limited and inconclusive. This study is therefore an attempt to investigate the recent development of ASEAN+3 equity markets integration. Practical implications - This study focuses its attention on the existence and the extent of financial integration in East and Southeast Asia region, and it provides evidence that equity market integration in ASEAN+3 is far from complete, and for that reason, there is a need for policymakers in ASEAN+3 member countries to synchronize their standards and regulations. Furthermore, the policymakers in East and Southeast Asia can gain benefit from this study, as it provides the evidence that ASEAN+3 member countries respond differently to policy shocks, which may hinder the development of regional financial integration as well as the policy effectiveness of region-wide authority in ASEAN+3. Originality/value - This research is different from previous studies, as it puts the regional financial integration within the context of ASEAN+3 frameworks. Unlike previous research that considers East and Southeast Asian countries as an individual entity, this research considers East and Southeast Asia into two different blocks, following Tourk (2004) who documented that negotiation process for ASEAN+3 financial integration is conducted in sub-regional level (ASEAN vs East Asia), rather than national level (country per country basis). Second, this study covers the period after the 1997 Asian financial crisis. As suggested in Wang (2014), that the degree of stock market integration tends to change around the periods marked by financial crises, the updated study on Asian financial integration in the aftermath of 1997 financial crises is important to document the development of regional financial integration. [ABSTRACT FROM AUTHOR]
- Published
- 2015
- Full Text
- View/download PDF
30. Innovation and the Entrepreneurial State in Asia: Mechanisms of Bond Market Development.
- Author
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Rethel, Lena and Sinclair, Timothy J.
- Subjects
- *
BOND market , *ENTREPRENEURSHIP , *CAPITAL market , *BOND funds , *BONDS (Finance) , *FINANCIALIZATION , *BANKING industry ,ECONOMIC conditions in East Asia - Abstract
Bond markets have expanded rapidly in emerging East Asian economies in recent years. Asian policymakers have played a pivotal role in this development. This process presents an interesting challenge to the developmental state literature associated with bank-based financial systems. We argue that it is best to understand the role of the state as an entrepreneurial state in the construction of these markets, focusing on institutional innovation in three mechanisms of state-led market infrastructure: national or local credit rating agencies, mortgage corporations and bond pricing agencies. National credit rating agencies rate the creditworthiness of debt in local currency. Mortgage corporations create markets in securitised housing loans. Bond pricing agencies put a value on illiquid debt instruments to enable mark-to-market portfolio management. Together, these three mechanisms constitute the core determinants of the market (demand for creditworthy products, supply of tradeable assets, and the fixing of a price to those assets). In so doing they influence the nature of market operations, producing outcomes very different from the free market ideal type. We also consider cross-country commonalities and variations in this general pattern. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
31. Editorial for Special Issue "New Challenges in Asian Capital Markets".
- Author
-
Apergis, Nicholas and Katsuhiko Takagaki
- Subjects
CAPITAL market ,FINANCE ,ECONOMIC development ,BANKING industry - Abstract
We are pleased to announce the Special Issue on the New Challenges in Asian Capital Markets in the International Journal of Financial Studies. The focus of papers in this Special Issue is on the future challenges and/or future developments Asian Finance. In addition, one article provides a review of the literature on certain issues in relevance to the banking and capital markets in Asia. This Guest Editor's note synthesizes the contributing authors' propositions and findings regarding these challenges and developments and hopes that opens new venues for future research directions. [ABSTRACT FROM AUTHOR]
- Published
- 2017
- Full Text
- View/download PDF
32. EFFECTS OF QUANTITATIVE EASING ON ASIA: CAPITAL FLOWS AND FINANCIAL MARKETS.
- Author
-
CHO, DONGCHUL and RHEE, CHANGYONG
- Subjects
QUANTITATIVE easing (Monetary policy) ,CAPITAL movements ,CAPITAL market ,FOREIGN investments - Abstract
This paper studies the effects of US quantitative easing (QE) on Asia by examining capital flows and financial markets. After the global financial crisis (GFC), Asian economies with more open and developed capital markets experienced greater swings in capital inflows. In particular, large capital flows manifest more in portfolio investment and other investment such as bank loans than in foreign direct investment. Empirical analysis shows QE, QE1 in particular, significantly contributed to the rebounding of capital inflows to the region after the onset of the crisis by lowering domestic yield rates as well as CDS premiums. Although the currency value responses differed across countries, it appears that economies with stable exchange rates roughly coincide with those in which house prices have been rising, suggesting that monetary easing of advanced countries have affected Asian countries through either appreciation of currency values or increases in the prices of housing. [ABSTRACT FROM AUTHOR]
- Published
- 2014
- Full Text
- View/download PDF
33. Asia's Fledgling Leveraged Loan Market Is Doing Just Fine.
- Author
-
Poh, Jacqueline
- Subjects
LOANS ,FINANCIAL leverage ,INTERNATIONAL finance ,CAPITAL market ,CONSTRUCTION loans ,LEVERAGED buyouts ,SYNDICATED loans - Abstract
"The Asian loan market tends to be more stable and not as volatile as US or European institutional markets", says Ashish Sharma, HSBC Holdings Plc's co-head of Asia leveraged and -acquisition finance. (Bloomberg Markets) -- As the once-piping-hot leveraged loan market falters in the US and Europe, Asia's fledgling business is booming. [Extracted from the article]
- Published
- 2022
34. Goldman Cuts at Least 25 Bankers in Asia as China Deals Swoon.
- Author
-
Chan, Cathy and Baigorri, Manuel
- Subjects
BANKERS ,STAY-at-home orders ,COVID-19 pandemic ,CAPITAL market ,STOCK exchanges - Abstract
The reductions come after Goldman went on an unprecedented hiring spree in mainland China and Hong Kong last year as the world's second-biggest economy opened its financial market fully to foreign brokerages and asset managers. (Bloomberg) -- Goldman Sachs Group Inc has started axing at least 25 bankers in Asia as a drought in dealmaking has prompted cuts across sectors, people familiar with the matter said. [Extracted from the article]
- Published
- 2022
35. A $17 Billion Loss Puts Indian IPO Among Top Asia Wealth Losers.
- Author
-
Cheng, John and Joshi, Ashutosh
- Subjects
GOING public (Securities) ,STOCKHOLDER wealth ,STOCK prices ,CAPITAL market ,INTEREST rates - Abstract
(Bloomberg) -- An eye-popping $17 billion wipeout in market value has made Life Insurance Corp of India one of the biggest wealth destroyers among Asia's initial public offerings this year. Having plunged 29% since its May 17 debut, India's biggest ever IPO now ranks second in terms of market capitalization loss since listing, according to data compiled by Bloomberg. [Extracted from the article]
- Published
- 2022
36. TW-Analyse des Kapitalmarkttags: Das ist der Masterplan für Moncler und Stone Island.
- Subjects
CAPITAL market ,RETAIL industry ,INTERNET marketing ,CONSUMERS ,GENIUS - Abstract
Copyright of TextilWirtschaft Online is the property of dfv Mediengruppe and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2022
37. International Women's Day: Q&A with White & Case's Kaya Proudian.
- Author
-
Lai, Karry
- Subjects
INTERNATIONAL Women's Day ,CAPITAL market - Abstract
Kaya Proudian, partner and head of Asia capital markets at White & Case, shares her thoughts on work-life balance, what law firms can do to improve gender diversity and what #breakthebias means to her [ABSTRACT FROM AUTHOR]
- Published
- 2022
38. India's SEBI Bars Ex-Billionaire Anil Ambani from Capital Market.
- Author
-
Beniwal, Vrishti
- Subjects
HOUSING finance ,FINANCIAL markets ,SECURITIES trading ,CAPITAL market - Abstract
Keywords: RBI@IN; RCAPT@IN; RELHOME@IN; ALLTOP; ASIA; ASIATOP; BUSINESS; COS; FIN; GLOBALMACR; GOV; INDIA; INDUSTRIES; MARKETS; WEALTH; WORLD EN RBI@IN RCAPT@IN RELHOME@IN ALLTOP ASIA ASIATOP BUSINESS COS FIN GLOBALMACR GOV INDIA INDUSTRIES MARKETS WEALTH WORLD India's capital market regulator restrained former billionaire Anil Ambani from dealing in securities for diverting funds from one of his companies' to other group entities and repay debt. R767NPT0AFB5 (Bloomberg) -- India's capital market regulator restrained former billionaire Anil Ambani from dealing in securities for diverting funds from one of his companies' to other group entities and repay debt. [Extracted from the article]
- Published
- 2022
39. IPOs in Asia Face Headwinds After Record Year of Fundraising.
- Author
-
Pacheco, Filipe, Fioretti, Julia, and Li, Pei
- Subjects
GOING public (Securities) ,STOCK exchanges ,INTEREST rates ,SECURITIES industry ,CAPITAL market ,FINANCIAL services industry - Abstract
Bankers say they expect Asia's IPO market to be less frenzied and more balanced in 2022, as higher inflation erodes valuations of tech firms and tighter U.S. monetary policy reduces the supply of idle cash. "Diverting From China" Picking up the slack could be Chinese firms not affected by Beijing's regulatory clampdown or beneficiaries of the nation's development priorities, including new energy providers and electric vehicle makers. (Bloomberg) -- After a bumper year of stock listings, Asian companies may find it hard to repeat the success in 2022 given the prospect of rising interest rates and China's tightening grip on Big Tech. [Extracted from the article]
- Published
- 2021
40. World's Largest Equity Deals This Year Have Come Out of Asia.
- Author
-
Fioretti, Julia
- Subjects
GOING public (Securities) ,STOCKS (Finance) ,CAPITAL market ,BLOCK trading ,FINANCIAL crises ,CONVERTIBLE bonds ,COMPOUND annual growth rate - Abstract
(Bloomberg) -- The world's biggest equity capital markets deals of 2021 have almost exclusively come out of Asia, in a sign of the growing clout of the region's companies even as markets teeter going into year-end. The boom continued into 2021, and until Rivian's IPO in November the two biggest listings of the year were China Telecom Corp.'s $8.4 billion Shanghai share sale and social video giant Kuaishou Technology's $6.2 billion Hong Kong float. The biggest listings by mainland firms are all underwater, and even South Korea's e-commerce giant Coupang Inc. -- among the world's top five IPOs -- is trading 20% below its listing price as losses mount and spending remains high. [Extracted from the article]
- Published
- 2021
41. ADB hits half-century, for better and worse.
- Author
-
Wright, Chris
- Subjects
INFRASTRUCTURE (Economics) ,PUBLIC-private sector cooperation ,CAPITAL market ,ECONOMIC conditions in Asia - Abstract
The article offers information on the Asian Development Bank, its 50th anniversary and its struggles to help Asia deal with its infrastructure and environmental issues. Topics discussed include the bank's president Takehiko Nakao, the bank's efforts to help countries establish public-private sector cooperation frameworks, and its assistance for governments to access capital markets.
- Published
- 2017
42. ICBCI's Head of Asia ECM Said to Leave for Deutsche Bank Role.
- Author
-
Fioretti, Julia and Chan, Cathy
- Subjects
CAPITAL market ,GOING public (Securities) ,BANKERS - Abstract
(Bloomberg) -- Ian Long, head of Asia equity capital markets at ICBC International Securities Ltd., has left the bank for a rival, according to people familiar with the matter. Separately, Deutsche Bank recently hired Joseph Lun as a director in its equity capital markets team in Hong Kong, IFR reported, citing an internal memo. [Extracted from the article]
- Published
- 2021
43. ByteDance Said to Have Met With Officials Over Data Security.
- Author
-
Huang, Zheping and Chan, Vinicy
- Subjects
DATA security ,INTERNET security laws ,GOING public (Securities) ,CAPITAL market ,STOCK prices - Abstract
Keywords: 1284375DCH; 1774397DCH; 1810@HK; ALLTOP; ASIA; BUSINESS; CHINA; COS; GLOBALMACR; INDUSTRIES; INTERNET; LAW; MARKETS; STK; TEC; TMT; WORLD; WWTOP EN 1284375DCH 1774397DCH 1810@HK ALLTOP ASIA BUSINESS CHINA COS GLOBALMACR INDUSTRIES INTERNET LAW MARKETS STK TEC TMT WORLD WWTOP TikTok owner ByteDance Ltd. is working to ensure it complies with data security requirements after meetings with government officials over the issue earlier this year, a person familiar with the matter said. ByteDance meets regularly with Beijing regulators about a range of issues, including data security, and the March discussions were part of that ongoing process, according to one person. [Extracted from the article]
- Published
- 2021
44. Nomura Loses 20 Investment Bankers in Asia After Bonus Payouts.
- Author
-
Cheng, John, Chan, Cathy, and Fioretti, Julia
- Subjects
INVESTMENT bankers ,INVESTMENT banking ,CAPITAL market ,FINANCIAL technology ,STOCKBROKERS ,STOCK exchanges ,DIVIDENDS - Abstract
To boost its ranks, the Tokyo-based firm recently hiredLi Gao as head of China financial sponsors in Hong Kongfrom JPMorgan Chase & Co., people familiar said. (Bloomberg) -- Nomura Holdings Inc. lost about 20 mostlyjunior investment bankers in Asia after bonus payouts inMay, adding to a stream of departures from Japan'sbiggest brokerage as financial firms vie for talent inthe fast-expanding region. [Extracted from the article]
- Published
- 2021
45. China's Haitong to Ramp Up Asia Deals as Competition Rises.
- Author
-
Zhou, Ina
- Subjects
BONDS (Finance) ,JUNK bonds ,BOND market ,CAPITAL market ,MARKET volatility ,CREDIT risk - Abstract
(Bloomberg) -- A top arranger for Chinese junk dollar bonds is looking elsewhere for growth opportunities, as rising competition reduces fees and heightened regulatory scrutiny weighs on the nation's borrowers. The average fee rate for Haitong underwriting Chinese junk-rated dollar bonds dropped 10% in 2020 from a year earlier, Chen said. [Extracted from the article]
- Published
- 2021
46. China's Haitong to Ramp Up Asia Deals as Competition Stiffens.
- Author
-
Zhou, Ina
- Subjects
JUNK bonds ,BOND market ,CAPITAL market ,CREDIT risk ,SALE of business enterprises ,MARKET volatility - Abstract
(Bloomberg) -- A top arranger for Chinese junk dollar bonds is looking elsewhere for growth opportunities, as rising competition reduces fees and heightened regulatory scrutiny weighs on the nation's borrowers. The average fee rate for Haitong underwriting Chinese junk-rated dollar bonds dropped 10% in 2020 from a year earlier, Chen said. [Extracted from the article]
- Published
- 2021
47. Worst Asia Stock Slump in Over a Year Shows Few Signs of Abating.
- Author
-
Ying, Moxy, Lee, Min Jeong, and Oda, Shoko
- Subjects
COVID-19 pandemic ,STOCKS (Finance) ,CAPITAL market ,WHOLESALE prices ,STANDARD & Poor's 500 Index - Abstract
Singapore, one of Asia's top-performing markets this year, saw its stock benchmark plunge as much as 3.2% on Friday, the most in the region, as the city-state said it will return to the lockdown-like conditions it last imposed a year ago to contain a rising number of untraceable infections. Keywords: ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; MARKETS; MKTTOP; STK; STKTOP; TOP; WORLD EN ALLTOP ASIA ASIATOP BUSINESS CHINA MARKETS MKTTOP STK STKTOP TOP WORLD Asian stocks are falling further behind their global peers, buffeted by a resurgence of Covid-19 cases across the region and mounting investor concern over inflation. [Extracted from the article]
- Published
- 2021
48. Retail Investors Vow War If Short Sellers End Korea Stock Rally.
- Author
-
Lee, Youkyung
- Subjects
STOCK prices ,INDIVIDUAL investors ,CAPITAL market ,STANDARD & Poor's 500 Index ,SHORT selling (Securities) ,STOCK exchanges ,ECONOMIC recovery - Abstract
READ MORE: Short Sellers Have Plenty of Targets as Korea Ends 13-Month Ban But none of this is enough to quell concern among the nation's individual traders, who have had relatively free rein since foreign funds pulled back after the ban took effect in March last year. Keywords: 000270@KS; 005930@KS; 034220@KS; 326030@KS; GME; ASIA; BUSINESS; CONS; COS; INDUSTRIES; MARKETS; RET; SKOREA; STK; WORLD EN 000270@KS 005930@KS 034220@KS 326030@KS GME ASIA BUSINESS CONS COS INDUSTRIES MARKETS RET SKOREA STK WORLD QSI9D5DWX2Q3 (Bloomberg) -- Retail traders who drove record gains in South Korean stocks during the darkest days of the pandemic are bracing for a new threat -- the return of institutional players betting on share-price declines. [Extracted from the article]
- Published
- 2021
49. Asia Stocks, U.S. Futures Rise After S&P 500 High: Markets Wrap.
- Author
-
Mullen, Cormac
- Subjects
STANDARD & Poor's 500 Index ,CAPITAL market ,STOCK prices ,U.S. dollar ,UNITED States economy ,STOCK index futures ,BOND market - Abstract
(Bloomberg) -- Asian stocks and U.S. equity futures posted modest gains Friday after U.S. shares reached a record on optimism over a stimulus-fueled economic rebound. These are some of the main moves in financial markets: Stocks S&P 500 futures were up 0.3% as of 7:20 a.m. in London. [Extracted from the article]
- Published
- 2021
50. Highlights.
- Subjects
BOND market ,CAPITAL market ,BONDS (Finance) ,INDUSTRYWIDE conditions ,INFRASTRUCTURE (Economics) ,INDUSTRIALIZATION - Abstract
The article focuses on the trends of the Asian bond market as of 2016. Topics discussed include the trends of the bond market in the continent, the growth of the local currency bond market, the structural developments in the market, the local currency bond yields, and the infrastructure bond market developments.
- Published
- 2016
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