The slowdown in dealmaking spread to the US market in recent months, causing global M&A to drop 11.4% YTD to USD 2.49tn (across 13,304 deals), according to Mergermarket Global & Regional M&A Report. Activity was particularly subdued in the difficult to interpret third quarter of the year, when USD 622.2bn worth of deals were struck globally, down 21.2% on 3Q18 (USD 789.7bn) and with 1,164 fewer deals than last year.
Amid the global trade and tariffs war between China and the US, Asian markets saw a deterioration in M&A activity in 2Q19. In line with the overall trend in the region, private equity activity decreased for the third consecutive quarter.
Content Types: ArticleRegions & Countries: Hong KongIndustries: Banking & Finance
The Hong Kong Monetary Authority (HKMA) granted the first batch of three virtual banking licences, which permit banks to operate online in the city without physical branches, in March. It is the latest in a series of moves to help spark innovation in the city and strengthen Hong Kong’s position as an international financial hub.