The year in cartoons

IFR Asia Awards 2018
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Growing trade friction between China and the US begins to shake markets
Xiaomi becomes first issuer in Hong Kong following reforms to allow dual class shares
Ascletis Pharma becomes the first biotech listing in Hong Kong following reforms
Chinese high-yield bonds tumble after mounting concerns over default rates
Foxconn nudges China’s IPO market closer to market-based pricing with landmark listing
India’s government seizes control of IL&FS in an effort to stymie financial contagion
Mahathir’s surprise election victory in Malaysia weighs on investor sentiment
Credit markets stutter in the face of a glut of new deals and rising interest rates
China targets technology firms with the introduction of Chinese Depositary Receipts
Rising US interest rates and geopolitical tensions weigh heavily on the outlook for 2018
China finally publishes Panda bond guidelines following multi-year delay
Chinese issuers turn their attention to Bond Connect to take advantage of offshore demand