HSBC is seeking to overtake Western rivals in the race for a slice of China's $4 trillion onshore bond market thanks to an investment banking partnership with a state-owned investor it announced last week.Europe's biggest bank is late among foreign banks to the party in China's onshore investment banking market, where rivals like Credit Suisse, Deutsche Bank and Goldman Sachs established joint ventures with local players years ago.But foreign banks have made limited inroads in China because of the restrictive licences handed out to the early entrants. Morgan Stanley Huaxin Securities, the top foreign player in China's onshore bond market this year, ranked 29th by proceeds raised, just ahead of UBS, according to Thomson Reuters data.The move is not without risk in a slowing economy with a heavily indebted corporate sector, but HSBC, which is exploiting new rules that favour Hong Kong-funded lenders, will have an extensive licence and will not be bound by the 49-percent ownership cap normally imposed on foreigners.
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 4.52% or $1.53/share to $35.41. In the past year, the shares have traded as low as $30.15 and as high as $41.04. On average, 13768600 shares of MS exchange hands on a given day and today's volume is recorded at 19355167.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 1.23% or $-0.5/share to $40.14. In the past year, the shares have traded as low as $36.49 and as high as $42.64. On average, 983432 shares of TRI exchange hands on a given day and today's volume is recorded at 696959.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI fell by 0.26% or $-0.14/share to $53.35. In the past year, the shares have traded as low as $42.51 and as high as $55.92. On average, 938745 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 624041.
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