HK banks hiring traders to tap Dim Sum market

[HONG KONG] Despite the weak outlook for global fixed-income trading, investment banks in Hong Kong are hiring more credit traders to take advantage of the thriving market for Greater China debt.

Several local and international firms say they are devoting additional resources to the fast-growing offshore renminbi bond market to build an early foothold in the promising secondary market for the so-called Dim Sum securities.

"We have done several Dim Sum new issues recently, and we believe that market is growing," said Anitza Nip, head of flow credit trading, Hong Kong, at National Australia Bank.