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The music has recently sped up in what looks like a pan-Asian game of musical chairs. Unlike the parlour game, this match pits some of the world’s biggest financial firms in a race to issue shares into what increasing looks like a bear market.
In China, Japan, Hong Kong and Singapore, financial giants are readying large-scale share offerings. The mounting concern now is that a true bear market may suddenly close the door to many of these issues. It’s time to grab a seat before all the chairs disappear.
Read more at Financial Services Briefing: “Musical shares” (May 20th)