It’s not all doom despite the deleveraging, say currency experts. Early signs are there that central bank regulations to stem capital outflows are beginning to bear fruit.
The need of Chinese corporate to find billions in foreign exchange to pay overseas shareholders is likely to depress the renminbi. But will it last for long?
Corporate treasurers in Hong Kong will watch pricing closely following the Moody's downgrades, though the wider outlook for local corporates is likely to remain robust.
New global standards governing insurance contracts will be a challenge for corporates, analysts say, but greater transparency will appeal to investors.