Investment banks on course for first-half Asia record
Investment banks are poised to celebrate their best first half on record in Asia with buoyant capital markets and strong takeover activity driving up revenues.
Financial firms have earned an estimated $1.7bn in revenues from deals in Asia and, with seven weeks to the end of the period, are within striking distance of the record high set in the first half of 2005, according to figures by Dealogic, the research firm.
Most investment banking fees are confidential but executives say the Dealogic figures under-estimate their firms earnings, highlighting the fact that rapid growth in revenues has turned Asia into a key battleground for global investment banks.
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Nomura Holdings Inc. (8604.TO) aims to become the top investment bank in Asia by clinching more large deals with Asian companies and grabbing market share from rivals from the U.S. and Europe, the company's head of investment banking said Monday.
Nomura, Japan's biggest securities business group by revenue, has been building up its capabilities and competitiveness of its investment banking operations in the region, and has served as a global coordinator for large equity offerings by such companies as South Korea's Lotte Shopping Co. and India's ICICI Bank Ltd.
"In this
Japanese banks among best bets in Asia
Japan is the best bet for equity investors looking to make money in Asia this year, with the country's rebounding banks among the region's top picks, an Alliance Trust strategist said on Thursday.
Anthony Muh, head of the Asia Pacific region for the London-listed trust, said while he expects China's economy to grow faster, investors can better capitalize on Japan's economic revival.
"Japan is the clear favourite within the greater Asia-Pacific region. Thereafter, there are no countries that stand out, so it's very much down to individual stocks," he told Reuters after a media briefing in
Barclays Capital counts on strong Asia growth
Barclays Capital, the investment banking arm of Barclays , is counting on Asian revenue growth of at least 25 percent a year, Chief Executive Bob Diamond said on Sunday, as the banks overseas businesses now make up about half of its total profits.
Barclays Capital (BarCap) is counting on equity and credit derivatives and commodities businesses to drive a large part of the regions growth, Diamond said at a media briefing.
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Asia: Profits push shares higher
Asian stocks hit a two-week high Thursday, led by Japanese exporters, after Matsushita Electric Industrial increased its profit forecast and Honda Motor posted record earnings.
Kookmin Bank paced gains by lenders after South Koreas financial regulator said net income jumped at the nations biggest banks. David Jones, one of Australias largest department stores, advanced after lifting its earnings forecast.
The overall earnings outlook seems good, said Mitsushige Akino at Ichiyoshi Investment Management. Earnings announcements reassured investors that the fundamentals of most companies business remain solid.
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Metals in demand as Asia returns to buy
Leading base metals were bouyant on Monday as Asian traders returned after a week-long holiday for Chinese New Year, maintaining the investment-led commodity market boom and keeping prices near record highs.
Shanghai copper and aluminium futures jumped by their daily limits to new record highs.
"Over the Lunar New Year period the LME (copper) rose above $5,000, so from the Chinese point of view they had to close the gap and so Shanghai copper rose," said Wang Zheng, a metals analyst at Shanghai Dalu Futures.
Last week an influx of fresh investment fund money at the
