Despite record deal volumes this year, Wall Street banks are earning less when helping companies raise equity in Asia as Chinese rivals increasingly eat away their margins, a Thomson Reuters quarterly survey of investment banking activity shows.Equity listings in the Asia-Pacific region excluding Japan surged 40 percent to a record $197.2 billion in the first nine months of 2015 from a year earlier, with Goldman Sachs and UBS topping the regional list of underwriters.But fees earned by the international banks in this space fell or remained flat over the same period, a consequence of tougher competition in a segment that generates the lion's share of investment banking revenues in Asia, according to Thomson Reuters/Freeman Consulting Co estimates in the survey.UBS, the best performer among the four international banks in the list of top 10 Equity Capital Markets (ECM) fee earners, kept its revenues nearly flat at an estimated $205.9 million in January-to-September. Goldman Sachs and Morgan Stanley saw a decline of around 20 percent, and JP Morgan's fees fell 15.7 percent.
Morgan Stanley is a financial holding company. Through its subsidiaries and affiliates, the Company provides a variety of products and financial services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 2.74% or $0.86/share to $32.29. In the past year, the shares have traded as low as $30.15 and as high as $41.04. On average, 11603400 shares of MS exchange hands on a given day and today's volume is recorded at 11635718.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI traded higher by 0.49% or $0.2/share to $40.83. In the past year, the shares have traded as low as $34.88 and as high as $42.64. On average, 973918 shares of TRI exchange hands on a given day and today's volume is recorded at 1143885.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 0.11% or $-0.06/share to $53.42. In the past year, the shares have traded as low as $39.45 and as high as $54.47. On average, 885195 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1781665.