China gears up for year-end rally

Issuance from Asia has been fairly quiet of late, but behind the scenes deal makers are busily putting the final touches on a series of high profile offerings out of China, Korea, Malaysia and Hong Kong.

Most of the focus is on China and the pilot ABS schemes by China Construction Bank and China Development Bank. A source connected to the China Construction's debut MBS offering - which could raise up to Rmb10 billion ($1.23 billion) - reported that the prep work has been completed, "but we are still waiting for one more tax ruling before it can be launched."