Greece and the Fed are the two main themes in Asian trading today, both of which are keeping investors on the edge. Asian shares continue to drop as worries persist that Greece will default on its debts, while uncertainty over the outcome of the Fed’s two-day meeting that will start later in the day added to the bearish mood. But Citic Securities seems immune to all these worries surrounding financial markets as it is issuing shares through a private placement. Read on…
Asian shares weaken on Greek, Fed uncertainties. MSCI’s broadest index of Asia-Pacific shares outside Japan were last seen down 0.4 percent, while the Shanghai Composite Index was last trading 1.3% lower. Japan’s Nikkei ended the day 0.6% lower. Reuters/Nikkei Asian Review
China further liberalizes debt market. Private investment funds with a net capital of more than 10 million yuan ($1.6 million) will be allowed to participate in the country’s interbank debt market. This is the first time that these funds will be allowed to trade government and corporate debts in the interbank market. Reuters
Citic Securities plans to raise up to $3.5 billion from share placement. The Chinese brokerage will sell up to 1.1 billion new shares in the city at 24.6 Hong Kong dollars apiece to 10 investors such as sovereign wealth funds in Malaysia and Singapore. Bloomberg
Hong Kong, Shenzhen stock link maybe delayed. The announcement of the scheme that will connect the stock exchanges of the two cities is on hold due to technical problems. That may push back the implementation of the program to 2016. Reuters
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