SYDNEY, Dec 15 Reuters Bankers in Asian equity capital markets are hopeful of a better year in 2024 after a dismal showing for IPOs this year, noting that interest rates have stabilised globally but they add that elections across the region and in the U.S. could crimp demand.

High interest rates, sticky inflation and geopolitical tensions have seen share sales by Asia Pacific including Japanese companies sink by a fifth in value so far this year to 229 billion, LSEG data shows. That39;s put this year on course to be the weakest since 2012.

The data covers new and secondary share sales, convertible bond issues and block trades.

But as interest rates in many countries appear to have peaked and talk turns to rate cuts next year, equity capital market ECM sentiment has improved in the last few weeks, bankers said.

We39;re in a window right now where the market has factored in a fairly benign macro outlook which could prompt issuers to come. The pipeline is strong, said Udhay Furtado, Citi39;s cohead of Asia equity capital markets.

Evidence of the improvement in sentiment for share sales has been seen in a number of block trade deals in the region over the past few weeks. These include Bain Capital selling down 448 million worth of its shares in India39;s Axis Bank this month.

Furtado said, however, that windows for companies to come to market for funds would be tight and tough to navigate as elections get underway. As political activity heats up, businesses are…