China's rich turn to European bank bonds but managers urge caution
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Hong Kong
THE appetite of China's wealthy to diversify from a weakening yuan is helping European finance companies boost capital to prepare for the next financial crisis. But global fund managers are urging caution.
Since Aug 1, seven issuers opened order books for their Basel III bond sales in Asian hours, raising US$11.9 billion selling instruments that count as capital under Basel III rules.
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