For decades, US stock exchanges have been taking centre stage in global equity offerings, thanks largely to the dollar hegemony and the US's strong economic leadership.
But a potential paradigm shift is brewing, with global funds gravitating towards Asian issuers that promise greater growth potentials. The world's largest initial public offering so far this year has landed in Hong Kong. The stars look aligned for a new wave of flourishing stock sales in Asia, where economic recovery, listing reforms, technological innovation and currency appreciation are combining to drive an equity capital boom. A structural shift The structural case is clear. Stock markets of Asian countries appear significantly underdeveloped relative to the size of their eco...
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