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18th Asia Bond Markets Summit - Asean Edition
Investing in the new normal
10 November 2023 | 08:30 AM - 11:30 AM | Singapore
Overview

Asia’s economic recovery starting in early 2022 is losing steam. The global economic slowdown, including in China, and lingering inflation concerns are clouding prospects ahead. The World Bank has recently trimmed the region’s growth forecasts for 2023 and 2024 citing lacklustre demand recovery. Southeast Asia is proving to be in a better position, however, benefitting from the reconfiguration of the supply chain with the accelerating “China plus one” strategy. Nevertheless, caution remains the watchword.

Capital markets in the Association of Southeast Nations (Asean) countries have held their own in 2022 as liquidity in the offshore market dried up, especially for speculative-grade issuers. As expectation of aggressive US Fed rate hikes moderates, credits in the region are starting to look attractive. Investment-grade names could see increased interest from investors on the back of strong fundamentals, lower volatility and higher yields compared with other markets. On the other hand, Asia’s high-yield issuers could see a change in fortune, once policymakers in China resolves and clarifies its regulations on real estate companies, which account for more than two-thirds of new issue activity pre-Covid crisis.

Meanwhile, as the unprecedented US rate hikes of the past 12 months come to an end, the region’s local currency bond markets could potentially benefit as the US dollar weakens after smashing records. Domestic institutional investors, which underpin the local markets, could see the return of intrepid offshore investors who may start to see value with more stable exchange rates.

One area that will continue to grow in interest is the region’s green, social and sustainability (GSS) and sustainability-linked bond markets. Although total volume declined from a year ago, it performed better than the broader bond market. Regulatory support could help boost the market. Hong Kong, for example, has launched a new scheme to monitor environmental, social and governance funds while Singapore is in the process of implementing its environmental risk management framework.

The Asset, is pleased to be hosting the 18th Asia Bond Markets Summit – Asean edition. Organized in association with the Asian Development Bank, the summit is the region’s longest-running continuous fixed-income summit which brings together issuers, investors, policymakers and other stakeholders involved in Asia’s bond markets.

Agenda
10 November 2023
08:30 AM
Registration and coffee
09:00 AM
Welcome remarks
Daniel Yu
Daniel Yu
editor-in-chief
The Asset
09:10 AM
Panel one: Investing in the new normal

Global inflation, high interest rates and continuing geopolitical uncertainties across the world continue to define the post-pandemic financial landscape. Meanwhile, Southeast Asia's economic recovery is at a steady pace on the back of consumer spending and the return of tourism. Amidst this backdrop, the region’s bond markets provide selective opportunities as credit conditions and economic fundamentals improve. Moreover, Southeast Asia’s focus on transition plays an important role in the expansion of its GSS market.

  • How will Southeast Asia’s bond markets shape up over the next 12 months?
  • Which markets will provide the most attractive returns?
  • What opportunities the local currency market offer?
  • What challenges does the GSS market face?
Anuj Awasthi
Anuj Awasthi
vice president operations
Credit Guarantee & Investment Facility
Danny Tan
Danny Tan
head of fixed income
Eastspring Investments
Jeremy Huang
Jeremy Huang
portfolio manager, credit analyst
PineBridge Investments
Edmund Leong
Edmund Leong
managing director and head of group investment banking
UOB
Daniel Yu (moderator)
Daniel Yu (moderator)
editor-in-chief
The Asset
10:00 AM
Networking and coffee
10:30 AM
Panel two: Opportunities and challenges in China and India

China and India, two of Asia’s biggest economies, provide both challenges and opportunities to global investors. China remains an important market but its slower-than-expected economic growth is being met with lukewarm reception by global investors. Meanwhile, India continues to be an emerging market favorite and as investors pivot away from China, the country could potentially benefit. Moreover, with its bonds set to be included in global indices, foreign investor participation is set to increase.

  • How do investors view India and which sectors are attractive?
  • What opportunities does China still offer and how can investors capitalize on these?
  • What challenges do investors face in both countries
  • How are these issues being addressed?
Anupam Misra
Anupam Misra
head of corporate finance
Adani Group
Diwakar Vijayvergia
Diwakar Vijayvergia
senior vice president and portfolio manager, Asia fixed income
AllianceBernstein
Vincent Tong
Vincent Tong
assistant director and assistant general manager
CCXAP
Terry Zhang
Terry Zhang
senior director and head of global strategy and business management
CSPI Ratings
Angus Hui
Angus Hui
deputy chief investment officer and head of fixed income
Fullerton Fund Management
Kaustubh Chaubal
Kaustubh Chaubal
senior vice president, corporate finance group
Moody’s Investors Service
Chito Santiago (moderator)
Chito Santiago (moderator)
executive editor
The Asset
11:30 AM
Luncheon
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Event Photos
Summit kicking off to a full house
Summit kicking off to a full house
Early morning breakfast at the summit
Early morning breakfast at the summit
Networking
Networking
Registration time
Registration time
Networking
Networking
Panel on Investing in the new normal
Panel on Investing in the new normal
Coffee break at the summit
Coffee break at the summit
Panel on Opportunities and challenges in China and India
Panel on Opportunities and challenges in China and India