Investment banks expand: multinational firms bet on their bullish regional outlook
Article Abstract:
A number of multinational investment houses that have established themselves early in the Asian financial markets are capitalizing on their international reach to land some of the biggest financial deals out of the ailing Asian economy. These include Morgan Stanley Asia Ltd., Goldman Sachs Asia LLC, Merrill Lynch (Asia Pacific) Ltd. and Lehman Brothers Asia Ltd. Many of these investment houses are expanding their sales staff in order to sell innovative and complex financial products that would guarantee investors in the region profit despite its ailing economy. These include instruments in foreign exchange and debt trading, as well as fixed income derivatives.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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In Hong Kong, sales climb for mutual funds
Article Abstract:
Gross revenue from mutual fund sales rose to $4.15 billion in Hong Kong during the first half of 1997, a 90% increase compared to the same period in 1996, according to the Hong Kong Investment Funds Association. Meanwhile, net revenue for the first half of 1997 amounted to $1.36 billion, four times the amount posted for the same period in 1996. The stock market's optimistic long-term prospects are given credit for pushing gross sales during the period to $851.5 million.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Progress after IMF bailouts: but outlook still grim for Korean, Thai funds
Article Abstract:
The IMF recently awarded bailouts of $17.3 bil and $58.3 bil for Thailand and South Korea, respectively, as both countries posted signs of progress with their economic reforms. Both countries still have weak stock markets as the Asian region enters the second year of a major financial crisis. However, their mutual fund activities are over the average Asian fund performance, which declined 29% for the year ended Sep 30 and 8% for the third quarter 1998.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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