The Asia Eight

Daily must-reads from the world’s most dynamic region

November 19, 2020

1 TOP STORY: Investors clamour for China corporate bonds

ATF BIG PICTURE: Infographic - China's Bond Market

2 ATF TV: Chinese credits are now strategically important

3 NEWS: Sovereign bond yields fall below zero for first time

4 ASIA MARKETS: Nikkei and HSI fall while CS300 climbs

5 NEWS: Ant mega-deal likely to be abandoned under rules

6 NEWS: President Xi says Chinese economy is open for trade

7 NEWS: Beijing inadvertently boosts bitcoin by banning it

8 COMMENT: Indian central bank gives nod to DBS expsnsion

01 Top Story: Rush for China corporate bonds

Investors say Chinese credits are now an important part of their portfolios. They also brush off a recent spate of defaults as mere growing pains in the fast-growing corporate bonds market.

02 'Strategic choice'

Gary Dugan, CEO at Global CIO Office, explains why China’s bond market is looming larger in international investors’ portfolios. Asia Times Financial TV reports.

03 At the top table

China just joined the the likes of Germany and other high-rated borrowers in selling bonds at sub-zero rates, meaning investors are effectively paying Beijing for the privilege of lending it money.

04 Asia Markets

Japan’s Nikkei 225 index falls 0.36%, Hong Kong’s Hang Seng index drops 0.71%, while China’s CSI300 climbs 0.74%.    

05 Ant mega-deal is off

Closer study of China's new microfinance rules makes listing look unlikely – or that it happens on a much smaller scale some time in the future; micro-lending was making regulators nervous long before Jack Ma gave his notorious speech.

06 We are open, says Xi

President Xi Jinping has promised to keep the Chinese economy open to trade and warned against countries that embrace protectionist measures.

07 Crypto's unusual boost

A Chinese crackdown on bitcoin exchanges could be helping to drive the current surge in prices for the digital currency by preventing local 'miners' from selling.

08 Comment

“We have not seen global banks buying into Indian banks in a distressed situation. Usually when an Indian bank goes into distress, the RBI intervenes and merges the bank with a local state-owned bank. So, this is the first high profile instance of a distressed Indian bank merging with a foreign bank under the regulator's instruction.” 

Amit Tandon, founder and managing director of Institutional Investor Advisory Services on moves to enable DBS to expand in India