The listing of resources companies is expected to be one of the key trends in Asia this year -- a trend that has already started with the Hong Kong IPOs of Russian aluminium major UC Rusal and Mongolia-based coal miner SouthGobi Energy Resources in January.
But as the disappointment over Rusal's poor trading debut grows -- yesterday it closed 25.8% below its IPO price -- investor focus is shifting to another trend that is expected to characterise 2010, namely life insurance. The highlight of the year is likely to be the spin-off of troubled American International Group's AIG wholly owned Asian subsidiary, American International Assurance Company AIA for a separate listing in Hong...