UNTIL A FEW weeks ago Asia offered a glimmer of
hope in a gloomy global economy. The region seemed to offer a
prospect of growth - especially in China - in welcome contrast
to stagnation in Europe and the US. Asian companies and their
bankers had looked forward to capital raising and making new
investments. Then the first reports emerged of a virulent
life-threatening illness spreading out from a focus in
southern China.
In the wake of growing panic, Euromoney asks a banker what is
ostensibly a simple question: what will investors be seeing from
Asian corporates in the American depositary receipts market over
the rest of the year? But it plainly poses him problems. There is
an uncomfortably long pause as he attempts to organize his thoughts
into a positive and upbeat answer. After a few more seconds, a wry
smile appears on his face. He gives up. "It's not going to be very
good is it?" he...
