Asian bond sales may pick up: HSBC

[HONG KONG] HSBC Holdings sees some possibilities for a rebound in Asian bond sales this quarter, as three companies sold debt on Wednesday.

The US Federal Reserve's decision to maintain bond purchases last month "provides some selective opportunities for a pick-up in Asian issuance", according to Andre de Silva, head of Asia-Pacific rates in the global research team at HSBC. Swire Pacific, the biggest shareholder of Cathay Pacific Airways, led three offerings on Wednesday, the most since Sept 25, data compiled by Bloomberg show.

Asian companies slowed bond sales in the US currency to US$21.3 billion last quarter, 43 per cent less than the previous three-month period, after Fed chairman Ben Bernanke signalled the central bank would consider trimming the stimulus. The Fed left debt purchases unchanged when it met last month, prompting US dollar notes from Asian issuers to rally the most since July 2012, JPMorgan Chase indexes show.