Hong Kong's dollar bond issuance hits record low

It slumped 12.3% to a mere HK$70.3 billion.

According to Thomson Reuters, Q3 2011 is also the slowest quarter since 2008.

Here's more from Thomson Reuters:

Hong Kong dollar-denominated bonds reached HK$70.3 billion during the first nine months in 2011, down 12.3% from the same period last year and the lowest volume on record.

Quarterly volume this year decelerated as proceeds in 3Q 2011 reached HK$15.9 billion, down from HK$21.6 billion in 2Q 2011 and HK$32.8 billion in 1Q 2011. This third quarter is the slowest quarter since 2008 (HK$15.6 billion).

HSBC leads the debt underwriting league table for new issuance of Hong Kong dollar-denominated bonds for the first nine months of 2011 with total proceeds of HK$25.0 billion, or 35.5% market share.

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