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Finance company Orient Corp consolidated its position as the benchmark Japanese issuer in the international ABS market this week, with the launch of its sixth cross-border auto loan securitisation and third dual currency transaction. The deal confirms the rehabilitation of Japanese ABS in the minds of international investors and the reduction of the Japan premium to manageable levels.

Commonwealth Bank of Australia this week launched one of the largest ever Australian MBS to an enthusiastic reception from US and Australian investors. The deal offered a $1.1bn global tranche led by Merrill Lynch - its first bookrunning role on a cross-border Australian MBS - and A$427m of domestic bonds placed by CBA.

UK non-conforming mortgage lender Kensington Mortgage Co continued its drive to expand its investor base this week in a securitisation designed to tap demand in dollars and sterling across the maturity curve. Lead managed by Westdeutsche Landesbank, Residential Mortgage Securities 9 plc had a special strategic importance for Kensington.

Kreditanstalt für Wiederaufbau has mandated Dresdner Bank and HypoVereinsbank to inaugurate its programme of securitisations of loans to Germany's Mittelstand companies. Dresdner and HVB will each securitise Eu1bn to Eu1.5bn of their own loans to small and medium sized corporates, made under the supervision of KfW and fellow government agency Deutsche Ausgleichsbank.

The Korean capital markets – which include the largest bond market in ex-Japan Asia - are showing renewed signs of life, with stronger price performance and new asset classes. But it's not great news for everyone, and analysts advise caution.

Kwik Kian Gie was the highest-ranking ethnic Chinese in the Indonesian government: an outspoken economic visionary who used his 10 months in office to wage war on the country's conglomerates. But his tenure as coordinating minister for the economy, during which he was criticized for being both ineffectual and loud-mouthed, is at an end. In Kwik's last interview before Gus Dur announced his reshuffled cabinet, he spoke candidly to Asiamoney about the successes of his office and the challenges ahead. By Chris Wright and Maggie Ford.

Kwik Kian Gie was the highest-ranking ethnic Chinese in the Indonesian government: an outspoken economic visionary who used his 10 months in office to wage war on the country's conglomerates. But his tenure as coordinating minister for the economy, during which he was criticized for being both ineffectual and loud-mouthed, is at an end. In Kwik's last interview before Gus Dur announced his reshuffled cabinet, he spoke candidly to Asiamoney about the successes of his office and the challenges ahead. By Chris Wright and Maggie Ford.

Macroeconomic outlook

Macroeconomic outlook

Macroeconomic outlook

Citibank's victory in our annual global custody poll puts it at the top of three of our annual rankings. Our respondents tell us that whoever wants to win it next year will have to put a lot of hard work in to improving their on-line systems - because right now Asia's clients aren't happy with what's on offer. By Olivia Chow and Robert Law

The South Korean markets breathed a collective sigh of relief on August 15 – the day after Hyundai Group founder Chung Ju-yung announced he would sell two-thirds (some W216 billion) of his 9.2% stake in Hyundai Motor to the group's creditors. He will use the proceeds to bail out the group's cash-strapped construction unit, which is reeling under debts totalling more than W6 trillion. The deal signalled a truce in a nearly month-long battle between Hyundai, the South Korean government, and the group's main creditor banks. During that time the entire South Korean economy has hung in the balance as the Hyundai Group teetered on the brink of collapse.