After seeing less than a handful of sizeable overnight trades in June when concerns about the end of quantitative easing in the US led to a sharp sell-off in Asian stock markets, July opened with a bang yesterday with three transactions hitting the market after the close.
The largest was a well-flagged sale of global depositary receipts GDRs by Fubon Financial Holding Co, which was seeking to raise at least $850 million. It was accompanied by a $100 million block trade in another Taiwan-listed stock, contact lens manufacturer Ginko International, and a CB of about $175 million in Hong Kong-listed software developer Kingsoft Corp.
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