Northeast Asia

In this round-up, US president Joe Biden identifies China as a key competitor, both the official manufacturing and services Purchasing Managers’ Index (PMIs) come weaker-than-expected this month, and regulators ask 13 financial technology companies including Tencent Holdings and ByteDance to examine their businesses and fix the problems.

Fosun International has sold off a block of Tsingtao Brewery’s Hong Kong-listed shares for HK$2.34bn ($301m).

Two Chinese government-linked companies raised a combined $600m in the offshore market on Thursday, ahead of the long weekend in China.

Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.

The social confines of the past year have made me forget the importance of behaving myself in front of strangers.

SK IE Technology raised W2.29tr ($2.07bn) this week from the largest Korea IPO since 2017. The deal achieved record demand as institutional investors bet on a sector leader and retail buyers rushed to the market for short term gains. Jonathan Breen reports.

South Korea's Kookmin Bank enticed investors into its latest bond sale by using a sustainability label.

The National Association of Financial Market Institutional Investors plans to launch sustainability-linked bonds (SLBs) in the onshore market, after releasing official guidelines on Wednesday.

The Shanghai and Shenzhen stock exchanges have tightened rules for public bond issuance in China’s exchange market, releasing new guidelines that are likely to restrict supply from weaker issuers and deter investment holding companies, local government financing vehicles and real estate developers. Addison Gong reports.

The Asian Development dropped into the dim sum market on Wednesday to sell the first note from an SSA issuer in almost three weeks. Despite the recent absence of SSA names, the asset class is on pace for a record year.

BNP Paribas plans to expand its presence in China’s onshore capital market, having applied to the securities regulator to set up a securities company in the Mainland.

Chinese bike-sharing company Hello has set in motion a Nasdaq listing, aiming to raise at least $100m.