For bankers in China, there was nowhere to go but down after the first six months of 2015. And down they went, some falling so far they ended up the subject of government investigations into the causes of the summer stock-market crash.

Still, thanks to a modest fourth-quarter rebound and stunning numbers posted in the first half, 2015 turned out pretty well for Asia's equity capital markets bankers, who focus on initial public offerings and stock sales.