High-Yield Debt

Companies flock to sell their junk bonds in Singapore

Investors in Singapore are known for chasing yield. Photo: Reuters

Companies in Southeast Asia are looking at Singapore as a viable alternative for high-yield bond issues in amounts that would be too small for US dollar investors.

Friday, 4 October, 2013, 3:57pm

Business Digest, March 7, 2013

BOCHK Asset Management launched yesterday the first high-yield yuan bond fund authorised by the Hong Kong Securities and Futures Commission. 

7 Mar 2013 - 6:12am

Year of the bonds

Illustration: Mario Rivera

For all the gloom, some may overlook the fact that 2012 was a great year. Virtually all asset classes scored gains, with even equity markets venturing into positive territory thanks to a second-half rally.

31 Dec 2012 - 4:58am

Bullish on bonds

Daily markets tell a tale of unremitting gloom. Economies are weak, share prices are sinking, the euro-zone crisis goes on and on. But there is a market out there that is not just trending up, it's booming: bonds.

30 Jul 2012 - 12:00am

Panda bond threat to dim sum market

Will the panda eat dim sum for breakfast?

The mainland's securities regulator is looking at the possibility of letting foreign companies raise money by issuing so-called panda bonds on the Shanghai Stock Exchange - a move that could dent Hong Kong's lucrative dim sum bond business.

10 May 2012 - 12:00am

Emerging markets benefit

In a diversified portfolio, bonds are often seen as the 'unexciting' part - long-term holdings giving moderate returns. But with savings rates near zero and warnings coming from every side about the prospects for property, stocks and currencies, investors are seeing bonds in a new light.

28 Nov 2011 - 12:00am

Eurobonds unlikely to tempt Asia investors

Scrambling to find solutions to the euro zone debt crisis, Jose Manuel Barroso, president of the European Commission, and other influential voices have floated the idea of a new type of bond.

2 Oct 2011 - 12:00am

New world of retail debt

A whole new class of Hong Kong retail debt investors is about to come into being as the government allocates its first retail bond. The creation of this inflation-linked bond, or iBond, has generated considerable interest despite the fact that bonds have consistently underperformed other assets. While it remains easy to be underwhelmed by the performance of bonds, they have their adherents.

25 Jul 2011 - 12:00am

Yuan bond market expanding fast in HK

Hong Kong's largely unrated yuan bond market is growing fast despite concerns over poor corporate governance at mainland companies.

The offshore yuan bond market came to a standstill last month following fears over the Greek debt crisis and a short-seller's report that Canada-listed Sino-Forest overstated its timber holdings.

19 Jul 2011 - 12:00am

Investors wary of Chinese bonds

The Greek debt crisis and concerns about the veracity of the financial statements of Chinese companies have hit Asia's high-yield debt market, especially bonds sold by mainland companies with short track records.

12 Jul 2011 - 12:00am

Investors stoke yuan bond market

Yuan debt sold on the mainland and in Hong Kong grew 23 per cent in the first six months of this year as Chinese firms loaded up on borrowings from investors wanting exposure to the rising currency.

2 Jul 2011 - 12:00am

Chaoda blames market conditions for dropping US$250m bond sale

Chaoda Modern Agriculture (Holdings) has scrapped a US$250 million bond sale.

The mainland farming giant, which has been slammed by analysts for excessive spending on land that remains idle, blamed 'current market conditions' for dropping the debt issue.

10 May 2011 - 12:00am

Asia offers high yields to attract customers

Yield-hungry Asian investors, with a voracious appetite for bonds fuelled by record issuances by companies showing promising balance sheets, have helped push Asian high-yield bonds to a new level. A surge in so-called dim sum bonds, or yuan-denominated bonds offered in Hong Kong, is also driving growth.

9 May 2011 - 12:00am

Dim-sum bond returns cannot match the hype

Investors' interest in offshore yuan bonds is holding up well so far this year but the average performance of the so-called 'dim sum' bonds has been disappointing.

According to an index compiled by Bank of China (HK), the average total return of yuan bonds was only 1.74 per cent so far this year.

6 Apr 2011 - 12:00am

Greek crisis spreads

Europe's debt crisis became much worse this week. The International Monetary Fund promised to increase a Euro45 billion (HK$461 billion) aid package for Greece - the hardest-hit eurozone country - to as much as Euro120 billion over three years. But the debt disease seemed to be spreading.

30 Apr 2010 - 12:00am