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Daily Dispatches – Singapore ratings caveat

Moody’s says Singapore’s Aaa sovereign rating and stable outlook reflect the country’s very high economic, institutional, and government financial strengths, and its low susceptibility to risks from financial, economic, and political events.But there are challenges – Moody’s says these include containing consumer price and property inflation over the near term, and fostering a growth model that remains driven by productivity and innovation over the longer term.

Samurai sale

JPMorgan Chase & Co, the biggest U.S. lender, raised 105.6 billion yen (US$1.1 billion) in the largest sale of Samurai bonds since October as overseas borrowers flock to a market flush with stimulus cash. JPMorgan follows Rabobank Nederland and Nordea Bank AB in offering Samurai notes as the Bank of Japan Governor Haruhiko Kuroda’s plan to double the monetary base helps bolster demand for higher-yielding debt. HSBC Holdings Plc’s banking unit, Credit Agricole SA and the Slovak Republic are planning offerings this month.

Alternative avenues

With initial public offerings in China halted, investors in many Chinese companies are looking for other ways to cash out, including listing in Hong Kong or selling stakes privately. More than 700 companies that had applied to list in China were stuck when the market regulator stopped approving IPOs last year, and around 44% of them were backed by private-equity firms.

Asia-Pac showdown?

new Chinese military think tank describes a rising risk of “big power competition” and war in the Asia-Pacific region—driven by the US “rebalance” to Asia and the regional tensions it has generated.

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