HONG KONG, June 27 Reuters Financial advisory fees from mergers and acquisitions in Asia dropped to the lowest levels in 11 years in the first half of 2024, with little signs of a quick rebound amid declines in both announced and completed deals.

MA fees in Asia totalled 1.5 billion in the first six months, the lowest since 2013, LSEG data showed. Japan alone accounted for 40 of that.

The fee squeeze could add pressure to investment banks which in the past two years have already shed hundreds of jobs in Asia to cope with chilled capital markets and falling revenue.

The total value of announced transactions in Asia dropped 25 yearonyear to 317.5 billion, also a 11year low, the data showed, indicating transaction revenue might remain tight.

Completed deals, totalling 253 billion, were the lowest since 2009, when deep wounds of the global financial crisis severely disrupted market activities.

A reduction in average deal size is driving much of the decrease in MA deal volume year to date, as investors prioritise midsized opportunities over large transformative MA, said Tom Barsha, head of Asia Pacific MA at Bank of America.

Australiabased miner BHP Group walked away from its 49 billion plan to take over rival Anglo American last month after a sixweek pursuit, killing for now what could be one of bankers39; biggest paydays globally this year.

Japan, the only market in Asia that recorded MA growth in 2023, saw announced deals slide 23 in the first half to 61 billion…