AIG is set to sell more than 50 per cent of AIA in the Hong Kong listing of the Asian life assurance group due to a special clause that allows it to increase the size of the sale during the marketing and bookbuilding period over the next fortnight. (Financial Times)
Yuan-denominated IPOs could be launched in Hong Kong as early as next year.
This comes as the territory aims to become an offshore yuan trading centre, while China is seeking to internationalise its currency. (Channel News Asia)
Strong capital inflows will boost mainland and local equities, as emerging Asian markets continue to support the global recovery, forecast brokerages. The Hong Kong market is more optimistic after a series of fund-raisings, said Peter Redward, head of emerging Asia research at Barclays Capital. (The Standard)
Japan’s financial regulator is considering forcing the country’s largest banks to hold more capital than required under Basel III rules, a person with direct knowledge of the matter said. (Bloomberg)