hong-kongs-domestic-bond-market-still-looking-for-diversification

Hong Kong's domestic bond market still looking for diversification

Despite being one of the most mature among the regionÆs domestic debt markets, Hong Kong has yet to develop itself into a more accessible platform for a wider variety of issuers and investors.
Last year saw the Hong Kong dollar bond market top its previous high set in 2000 with almost HK$130 billion $16 billion worth of issuance, a year-on-year improvement of 30%. The market is one of Asia's most developed and active primary debt markets, with overflowing liquidity and enough borrowers to satisfy the current investor appetite.

Regarded as a decidedly efficient source of cheap funding for high-grade issuers, the market projects a particularly healthy deal flow from international borrowers such as European and Australian-based banks.

However, despite appearing to be relatively sophisticated, especially in comparison to its regional peers, this impression disguises an underlying lack of breadth and depth in the marketplace.

Issuance has been...
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