Investment banks and brokerages across Asia were bolstered last year by a surge of activity in Japan's equity markets, masking an otherwise mild year for stock trading and share issuance in the region.
The volume of Japanese shares changing hands more than doubled in 2013 from the previous year as traders rushed to bet on Japan's aggressive approach to stoking growth and ending deflation.That led to a boom in commissions that brokers earn to handle orders from institutional investors such as large fund managers, and some investment banks hired new staff in Tokyo to handle the flood of orders as the market rallied.
Consulting firm Greenwich Associates estimates that as of August, institutional commissions for Japanese stock trading had risen at least 40% in yen terms from the same period a year earlier, easily outpacing the consulting firm's estimates for the rest of Asia.
Japan also kept traders busy funneling newly issued shares to investors. Equity capital market revenue drawn from the country nearly doubled from 2012 to $1.38 billion, according to data provider Dealogic. That compares with a 13% decline in revenue from China, which came close to snapping a three-year streak at the top of the heap with $1.4 billion in revenue last year.
Source: the Wall Street Journal
Consulting firm Greenwich Associates estimates that as of August, institutional commissions for Japanese stock trading had risen at least 40% in yen terms from the same period a year earlier, easily outpacing the consulting firm's estimates for the rest of Asia.
Japan also kept traders busy funneling newly issued shares to investors. Equity capital market revenue drawn from the country nearly doubled from 2012 to $1.38 billion, according to data provider Dealogic. That compares with a 13% decline in revenue from China, which came close to snapping a three-year streak at the top of the heap with $1.4 billion in revenue last year.
Source: the Wall Street Journal
