Asian investments 'remain resilient'

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The performance of the Asian investment banking sector has been more resilient in recent months than its counterparts in other areas of the world, according to reports.

Figures from Dealogic have shown that while the first quarter of 2008 saw investment banking revenues fall by around 48 per cent in the US, the drop in Asia was only half as sharp during the same period.

Asian investment markets also outperformed those in Europe and the relative strength of these sectors has been attributed to the scale of listing and overseas buying activity in the Indian and Chinese economies, the Wall Street Journal reports.

Mark Renton, an Asia-Pacific investment banking expert at Citigroup, commented: "Asia has been more resilient than the US or Europe.

"Part of the reason for this is that there's been a relatively large backlog of transactions in the pipeline, which issuers wanted to complete, such as the China Railway IPO."

With subsidiaries and operations across the country, the China Railway company describes itself as a "gigantic state-owned enterprise group" and one of the largest construction businesses in Asia.