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Asia Pacific

Franklin Templeton India Fund Closure to Weigh on Corporate Bond Liquidity

Franklin Templeton India has announced the closure of six of its mutual funds in India, believing it to be the “only viable option to preserve value for unitholders and to enable an orderly and equitable exit for all investors in these unprecedented circumstances” according to a press release.

28 Apr 2020

ADB approves USD1.5bn financing to support Philippines

The Asian Development Bank has announced a USD1.5bn financing package to support the Philippines’ response to COVID-19. The budget support will help protect the Philippines’ population and the healthcare system.

27 Apr 2020

Indonesia Enlists Central Bank to Backstop Government Sukuk Sales in Effort to Fund Additional COVID-19 Spending

The Central Bank of Indonesia participated in domestic government long-term sukuk sales this week following a rule change that allows it to directly access the securities through primary auctions. The move enables Bank Indonesia to backstop domestic sukuk sales as the government seeks to raise additional funding to help tackle the COVID-19 pandemic.

24 Apr 2020

China Registered Negative Quarterly Growth for the First Time in 40 Years

China’s economy contracted for the first time in nearly 40 years due a coronavirus-inflicted slowdown through the first quarter of this year, although green shoots have started to emerge in March.

21 Apr 2020

RBI Announces New Policy Measures to Aid FIs

This week the Reserve Bank of India (RBI) announced a new set of policy measures to curb the impact of coronavirus on Indian markets. Suyash Choudhary, Portfolio Manager at IDFC Mutual Fund believes the policy measures announced “will serve to ease financial conditions at the margin.”

20 Apr 2020

ASEAN Green Bond Issuance Jumped 50% in 2019

Across ASEAN, 2019 was a big year for green bonds with issuance rising over 50% to reach a total of USD258bn, according to a report from HSBC and the Climate Bonds Initiative (CBI). But clear disparities remain between countries, with Singapore increasingly dominating the issuance pipeline.

17 Apr 2020

Asia is Now the Only Region on Course to Record Growth in 2020

Developed markets are predicted to take the biggest hit as the spread of COVID19 and lockdowns designed to contain it continue to lead to downward revisions to growth, but emerging Asia remains a bright spot.

16 Apr 2020

Investors Cast Aside Oil Concerns and Pile into Petronas Bonds as Orderbook Peaks at USD37bn

Any concerns over the outlook for oil prices were seemingly cast aside this week as investors got their first chance in five years to buy bonds issued by Malaysian state-owned energy giant Petroliam Nasional (Petronas), which raised USD6bn in a triple-tranche offering that priced inside IPTs across the curve.

16 Apr 2020

ADB Triples COVID-19 Response Funding with USD20bn, Accelerates Disbursements

The Asian Development Bank (ADB) said this week that it has tripled the amount of funding it plans to provide to member countries as they seek to contain the human and economic fallout from the COVID-19 pandemic.

14 Apr 2020

New Development Bank Places RMB5bn ‘Coronabond’ in Interbank Market to Help Finance Chinese Healthcare Initiatives

The New Development Bank (NDB) raised RMB5bn in the Chinese Interbank bond market at the end of last week, with the proceeds going towards financing public health expenditure to help combat coronavirus in several Chinese provinces.

6 Apr 2020

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