Pushing for promotion – Aaron Woolner column

There is stiff competition among the up-and-coming regional centres of Asia to join the big league of Hong Kong, Singapore, Sydney and Tokyo


Asian financial markets have traditionally been focused around four key locations: Hong Kong, Singapore, Sydney and Tokyo – but this is changing. December last year saw Fitch Ratings return Indonesia to investment grade after 14 years in the wilderness following the Asian Financial Crisis. Given that just a month earlier the southeast Asian state’s credit default swap spreads stood at 250 basis points versus 570bp for Group of Seven member Italy, this was widely taken as part of the inexorable

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