Home MARKETS Currencies Index inclusion gives impetus to investment in China’s A-shares

Index inclusion gives impetus to investment in China’s A-shares

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When MSCI finally included the first batch of A-shares in its emerging markets index in June, it pushed a broad range of international investors to dip their toes in Chinese stocks for the first time. But as speculative retail flows continue to dominate the market, some are turning to opportunities outside the benchmark. Noah Sin reports.

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 19.83
2 Industrial and Commercial Bank of China (ICBC) 14.01
3 CITIC Securities 11.86
4 Agricultural Bank of China (ABC) 10.78
5 China CITIC Bank Corp 9.70

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 20-Aug-18 ABC International (parent: Agricultural Bank of China) China 3,000
2 16-Aug-18 Daimler Germany 4,000
3 15-Aug-18 Everbright Water China 800
4 08-Aug-18 Veolia Environnement SA France 1,000
5 19-Jul-18 Beijing Enterprises Water Group China 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.31
2 HSBC 20.53
3 Societe Generale 4.21
4 Bank of Taiwan 3.60
4 Cathay United Bank 3.60

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 19-Sep-18 Agricultural Development Bank of China (ADBC) China 1,200
2 17-Sep-18 Hitachi Capital (UK) United Kingdom 600
3 13-Sep-18 CIFI Holdings China 1,000
4 05-Sep-18 Daimler Germany 1,000
5 03-Sep-18 First Abu Dhabi Bank PJSC United Arab Emirates 650

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