Asian currencies completed a third weekly gain, led by South Korea’s won, as global funds increased holdings of the region’s assets amid easing concern about the timing of U.S. interest-rate increases.
Citic Pacific Ltd.’s perpetual bonds have jumped by a record since the steelmaker said last week it will buy its parent’s main operating unit, a move Goldman Sachs Group Inc. says may help improve corporate governance.
Facing a desperate, knife- brandishing customer, Kwon Seon Joo knew the value of staying cool under pressure more than two decades before being picked to become the first woman to head a South Korean bank.
United Overseas Bank Ltd., Singapore’s third-largest lender, is planning a sale of dollar- denominated bonds as Asia’s investment-grade issuers pay the least for debt in the U.S currency in almost three years.
Shinhan Bank is marketing bonds denominated in U.S. dollars due July 2017 to yield between 365 basis points and 375 basis points more than similar-maturity Treasuries, a person familiar with the matter said.
South Korea’s won traded near a one- week high as investors waited for Federal Reserve Chairman Janet Yellen’s first report to Congress for clues on how the central bank intends to pace cuts to its stimulus program.