Pre-marketing starts for Las Vegas Sands and Minsheng Bank

Targeting a combined $5 billion, the two high-profile deals are coming to market at a time when the global equity markets are again starting to look more challenging.

The primary equity market in Hong Kong is becoming increasingly tough with poor interest for several of the Chinese property developers and a mediocre secondary market performance for many newcomers. On top of that, there is talk that many fund managers may close their portfolios early this year to preserve the sizeable gains they have made since the global equity markets bottomed in March and the trading pattern last week did show clear signs of profit-taking.

Hong Kong's market fell...

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