Chinese brokers muscling in on Asia's junk-bond underwriters

Hong Kong

CHINA'S brokerages are out-muscling global investment banks to win more underwriting business in Asia's junk bond market amid record offerings, as they increasingly help borrowers from the nation raise foreign currency debt.

Haitong Securities Co topped the league table for high-yield notes denominated in US dollars, euro and yen from companies in Asia excluding Japan in the first quarter, according to data compiled by Bloomberg.