The year in cartoons

IFR Asia Awards 2018
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The year in cartoons

Highlights of the year in black and white

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