Northeast Asia

Alibaba Group Holding’s shares in Hong Kong closed 6.51% higher on Monday, despite news over the weekend that the technology giant will be hit with a record fine of Rmb18.22bn ($2.8bn) by China’s regulators.

Zhao Sheng Law Firm, Linklaters’ China joint operating partner, has named two new partners.

Keymed Biosciences has started laying the groundwork for a planned Hong Kong IPO by filing its initial listing documents with the city’s exchange.

Credit Suisse has appointed Sunil Dhupelia as its new co-head of equity capital markets for Asia Pacific, a position he will hold alongside Johnson Chui.

In this round-up, China’s top antitrust watchdog fines Alibaba Group Holding a record Rmb18.23bn ($2.78bn) for monopolistic practices, and regulators announce measures to develop and open the financial services sector in the Hainan Free Trade Port.

In this round-up, the State Council flags up risks at regional financial institutions in China, measures have been announced to relax market access in the Hainan Free Trade Port, and the Guangzhou government details a plan to develop the financial industry and support cross-border businesses in the Guangdong-Hong Kong-Macao Greater Bay Area.

In this round-up, Beijing plans to beef up capital requirements for domestic systemically important banks, foreign investors reduce their investment in domestic Chinese bonds in March, and JD.com’s technology unit is reportedly planning to set up a financial holding company.

Chinese delivery company SF Express Co’s loan to support its acquisition of Kerry Logistics Network has received strong support from banks in senior syndication.

A South Korean state-backed insurer pared its stake in Woori Financial Group this week, selling a chunk of shares for W149.3bn ($133.2m), according to a source familiar with the matter.

Dongfeng Nissan Auto Finance Co came to China’s ABS market this week with a Rmb4.41bn ($673m) auto loan deal under the Vinz series, taking advantage of a recent decline in onshore yields.

The European Investment Bank has become the latest SSA issuer to tap the offshore renminbi (CNH) market, pricing its inaugural Climate Awareness Bond in the currency this week.

Mining company Korea Resources Corp (Kores) courted dollar investors with a five year transaction this week, marking its return to the bond market after a gap of three years.