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Bond Markets in Developing Asia Expected to Continue Strong Growth in 2004 Jan 04
Standard & Poors, Jan 2004
Abstract
The bond markets of developing Asia are likely to continue their recent strong showing in 2004, after a healthy run up in the second half of 2003, although many will be watching interest rates. At the beginning of 2003, those involved in Asian bond markets could be forgiven for being extremely pessimistic about the prospects for the year. And their pessimism seemed justified in the first few months. A combination of the war in Iraq, the outbreak of severe acute respiratory syndrome, and the then-current global economic slowdown had a negative impact on the region's bond markets. New issuance slowed to a trickle, spreads widened, and sentiment was poor. Once these factors were removed, however, unexpected strength in both the...
Companies mentioned in this report are: Hutchison Whampoa Ltd.,ASAT Holdings Ltd.,PCCW-HKT Telephone Ltd.,Towngas China Co. Ltd.,TOM Group Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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