"The volume of Asia ex-Japan mergers and acquisitions surged to a record $640 billion in the first half driven by the deal-making spree of Hong Kong tycoon Li Ka-shing."
Asia ex-Japan H1 deals hit record high on Li Ka-shing M&A spree
"Japan Post has applied for approval to list itself on the Tokyo Stock Exchange, formally opening a process that could see Japan's largest bank, its largest insurance company and its largest employer listed before the end of the year."
Japan preps one of history's biggest IPOs
"Stock markets in China continued to head south amid volatile trade on Monday, with investors shrugging off fresh easing from the People's Bank of China's (PBOC) over the weekend. Elsewhere in the region, equities witnessed a huge selloff after Greece failed to clinch a deal with its international lenders over the weekend."
Asian equities plunge as Greece weighs on sentiment
The AIIB, which will have billions of dollars to lend, has been viewed by some as a rival to the WB and ADB
"The 57 founding member countries of the China-led Asian Infrastructure Investment Bank began signing articles of association setting up the new institution on Monday (Jun 29)."
"The AIIB, which will have billions of dollars to lend, is expected to go into operation later this year. It has been viewed by some as a rival to the World Bank and Asian Development Bank, and the United States and Japan - the world's largest and third-largest economies, respectively - notably have declined to join."
ChannelNews Asia link:
57 countries hold signing ceremony to set up China-led AIIB
"A 20 percent fall in Chinese stocks over the past two weeks, mainly blamed on a flood of initial public offerings, highlights the risks that regulators face as they try to use the stock market to support the slowing economy.
The central bank cut interest rates and bank reserve requirements on Saturday, which analysts say is mainly aimed at restoring investor confidence in the market after key indexes fall over 7 percent on Friday, the biggest one-day fall since the global financial crisis"
The Fiscal Times link:
China regulators juggle IPOs with growth and a market plunge
"China's cabinet has approved plans for the manager of the country's biggest pension fund to manage pension funds worth about 2 trillion yuan ($322 billion) for local authorities."
China to let NSSF manage $322 billion in local pension funds: sources
"Equity and equity-linked capital raisings soared more than threefold in the second quarter from the first to bring the first-half total to US$52.2 billion - the strongest six-month period on record, according to data provider Thomson Reuters - helping the city recapture its crown as the global leader for initial public offerings, eclipsing both Shanghai and New York."
South China Morning Post link:
Hong Kong regains IPO crown as deal frenzy sets new records in first half
The e-commerce acquisition spree continues in 2015
"The head of the European Bank for Reconstruction and Development (EBRD) said on Saturday his institution hoped to have its first joint projects with the new $100 billion China-led Asian Infrastructure Investment Bank (AIIB) in place by next year."
EBRD eyes first tie-ups with new Asian Infrastructure Investment Bank
"With China’s leadership aiming to scale back the role of investment in the domestic economy, the nation’s surfeit of savings -- deposits currently stand at $21 trillion -- will increasingly need to be deployed overseas. That’s also becoming easier, as Premier Li Keqiang relaxes capital-flow regulations."
With $21 Trillion, China’s Savers Are Set to Change the World
"Hong Kong's securities regulator has rejected draft proposals by the city's stock exchange to change listing rules."
UPDATE 2-Hong Kong watchdog rejects move to change rule that saw loss of Alibaba IPO
"Japan's normally sleepy shareholder meetings are set for a shake-up this year as a new corporate governance code encourages disgruntled investors to speak out and forces companies to take demands for better returns more seriously."
Japan Inc faces stormy AGMs in governance shake-up
"The recent quiet [from government-controlled media] has prompted speculation that Chinese authorities are willing to tolerate greater market volatility."
Chinese Stock Plunge Leaves State Media Speechless
SEBI Permitted technology start-ups and new-age companies, to list on institutional trading platforms (ITP) with an easy disclosure regime
"To encourage more than 3,100 technology start-ups and new-age companies, the Securities and Exchange Board of India (Sebi) on Tuesday permitted such firms to list on institutional trading platforms (ITP) with an easy disclosure regime allowing them alternative funding options."
Financial Express link:
SEBI eyes techies looking overseas
"This week, Alibaba is launching MYbank, an online lender that will tap into Chinese savers’ record $7.8 trillion of deposits and a banking revenue stream that’s forecast to double by 2020.
Banks have been striking back by pushing into the business Ma pioneered in China, online malls. The moves are blurring the lines between banking and e-commerce as China’s government continues encouraging competition in the finance industry and as Chinese increasingly use computers and mobile phones to bank and shop."
Gloves Off in China as Banks, Alibaba Invade Each Other’s Turf
"As more Chinese use phones for everything from shopping to booking restaurants, local services have become a key battleground for China's internet giants Alibaba, Tencent Holdings Ltd and Baidu Inc as they try to attract users to their platforms."
UPDATE 1-Alibaba, Ant to pour nearly $1 bln into local services startup
"The largest traders, with accounts of $1 million or more, have taken out margin loans and could be apt to quickly pull out amid last week’s slide. In the past year, Chinese stocks have fallen dramatically whenever the China’s stock regulator discusses cutting margin lending at the county’s brokerages."
China's Traders Scale Back on Margin Accounts after Epic Rally
"New regulations are poised to impose big changes on China’s insurance sector."
China to shake up insurance sector
"European private equity fund CVC and Singaporean sovereign wealth fund Temasek are to buy a controlling stake in the pharmaceutical firm Alvogen, its chairman and chief executive said.
The transaction is the latest sign of the hectic pace of deal-making in the healthcare sector, which has seen more than US$250 billion of mergers and acquisitions so far this year, up nearly two-thirds from a year ago, according to Thomson Reuters data."
CVC and Temasek to buy US$2b generic drugs firm Alvogen
"Indonesia’s low bank account and credit card penetration rate lies in banks failures to understand the financial problems that the majority of the country’s population suffers from. Not only in Indonesia, but in most countries, banks require a list of qualifications and documents in order for a person to apply for a bank account or a credit card, which often is hard to obtain for people with low income, or those wanting to send or receive small payments.
By recognizing such problems, FinTech startups in Indonesia have developed faster, cheaper and more secure ways to transfer money around the country and across the globe — as well as alternative ways to pay online, especially at e-commerce stores — without undergoing the complicated process of setting up credit cards and paying high transaction fees."
Global Investors ‘Bullish’ on Indonesian FinTech StartUps
"If you wanted to figure out where Asian exports were headed, U.S. manufacturing data used to be a logical place to start. Not anymore."
U.S. Growth No Longer Lifting Asia's Exports
"This has been one terrible, horrible, no good, very bad week for the Chinese stock market. China's benchmark Shanghai Composite index is now in correction territory after falling 13% over the past five trading sessions, as investors grow increasingly wary of what many analysts describe as a bubble."
China stocks plunge as bubble fears grow
"In the three weeks ended June 3, $7.3 billion rushed into China’s stock and bond markets, the largest three-week inflow in over a decade, according to EPFR Global. But over the next week nearly the same amount—$6.8 billion—was pulled out as global fund managers took fright at wild swings in the Shanghai benchmark index."
Fund Flows a Growing Headache for Beijing
is my attempt to share (via this website as well as twitter) relevant finance stories from Asia that I find interesting (on a daily basis).