Asia Ex-Japan Equity Underwriting Surges 55% YTD, Morgan Stanley Tops Goldman

Asia ex-Japan equity issuance rose 55% YTD to $162B in July. Morgan Stanley overtook Goldman Sachs in market share, while CICC retained the top underwriter position.

Woofun AI data shows that equity underwriting activity in Asia, excluding Japan, expanded significantly, with total issuance reaching $162 billion in July, up from $104.8 billion in the same period last year. Morgan Stanley captured a 6.07% market share, surpassing Goldman Sachs, which held 5.62%, while China International Capital Corporation maintained the leading position with 13.1%.

Changxin Memory executed a $9.84 billion fundraising in July, standing as the largest single stock offering of the month. This transaction contributed to the broader surge in capital raising across the region, reinforcing the competitive shift among major investment banks.