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China Moves to Rein in Risks From Asset-Management Products
November 17, 2017--Draft rules aimed at breaking implicit guarantee of returns
Regulators have stepped up efforts to curb financial risk
China's financial regulators proposed sweeping rules to curb risks in the country’s $15 trillion of asset-management products as leaders move to tighten supervision and break an implicit guarantee that's driven investment into such vehicles.
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Source: Bloomberg
China tightens rules on asset management to rein in risky lending
November 17, 2017--Central bank leads charge to unify standards on runaway shadow banking sector
China's central bank outlined sweeping new regulations aimed at curbing financial risk in the asset management industry on Friday...
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Source: FT.com
JPX-ETF Monthly Report-October 2017
November 16, 2017--The JPX-ETF Monthly Report-October 2017 is now available.
view the JPX ETF Monthly Report October 2017
Source: JPX (Japan Exchange Group)
Singapore and Hong Kong launch a joint project on cross-border trade and trade finance platform
November 15, 2017-- The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) exchanged a Memorandum of Understanding (MoU) in Singapore today to jointly develop the Global Trade Connectivity Network (GTCN), a cross-border infrastructure based on distributed ledger technology (DLT), to digitalise trade and trade finance between the two cities and potentially with an aim to expanding the network in the region and globally.
2 The GTCN is the first strategic joint innovation project arising from the Co-operation Agreement signed by the two authorities last month1
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Source: Monetary Authority of Singapore (MAS)
A Chicago trading firm is setting up shop in Singapore to dominate the bitcoin market in Asia
November 15, 2017--DRW, the Chicago-based trading firm, is expanding its bitcoin trading operations into Asia.
The firm told Business Insider it sees a huge opportunity in Asia for over-the-counter trading.
The Asian-outpost will be based in Singapore, but will serve all of Asia and enable the firm to operate as a global, around-the-clock business.
DRW, a Chicago-based firm, is looking to set up a bitcoin trading desk in Singapore to dominate the cryptocurrency market in Asia.
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Source: Business Insider
Amfi-Gold ETFs register Rs 420 crore outflow in Apri-October
November 15, 2017--Gold exchange-traded funds (ETFs) continued to lose sheen as an investment class, with investors pulling out over Rs 420 crore from such instruments in April-October 2017, as per the latest data by mutual fund body Amfi.
Moreover, trading in gold ETF has been lukewarm in the last four fiscals. It had witnessed an outflow of Rs 775 crore in 2016-17, Rs 903 crore in 2015-16, Rs ...
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Source: The Economic Times
IMF Staff Completes 2017 Article IV Visit to Indonesia
November 14, 2017--The Indonesian economy continues to perform well, with GDP projected to expand by 5.1 percent in 2017 and 5.3 percent in 2018.
In the near term, policies should focus on promoting growth while preserving stability. Monetary policy should focus on price stability and supporting growth, while fiscal policy should rebuild buffers to protect stability.
Boosting medium-term growth requires revenue-enhancing tax reforms to finance development spending, and reforms in the product, labor, and financial markets.
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Source: IMF
IMF Staff Concludes 2017 Article IV Visit to Korea
November 14, 2017-- An International Monetary Fund (IMF) staff team led by Tarhan Feyzioglu visited Seoul during November 1-14 to conduct discussions for the 2017 Article IV Consultation. Mr. Feyzioglu issued the following statement at the conclusion of the visit:
"Korea's near-term outlook is improving despite elevated geopolitical tensions. After slowing in the second half of 2016, growth is picking up this year, led by a strong expansion in investment, especially in the IT and construction sectors.
Export growth strengthened thanks to improving external conditions and high global demand for semiconductors. Private consumption growth picked up over the first three quarters of this year but remains below economic growth. Recovery has been supported by an accommodative monetary policy, with lending rates and long-term yields close to record lows. The unemployment rate is hovering around 3.8 percent (seasonally adjusted) but remains significantly higher for youth, at 10.0 percent (seasonally adjusted) in September.
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Source: IMF
DB-Synthetic Equity & Index Strategy-ETF Monthly Asia-ETF Investors take profits as equity markets rally
November 14, 2017--Data in this report is as of 31st October 2017
Asia listed ETP Monthly Highlights (Assets, Flows & Launches):
Assets & Flows: ETP AUM up by 3.2% ($12.8bn) on MoM basis and ended
the month at record high level of $416.9bn. Net outflows of -$4.5bn in
October (YTD +$41.8bn).
9 new launches: 8 equity and 1 fixed income. Non traditional product
launches continue in October with dominance of smart beta ETFs.
Investment Themes for the Month
Equities (-$5.9bn outflow):
Japan (-$3.6bn) - Nikkei 225, TOPIX and leveraged long ETFs saw sizeable redemptions and inflows into inverse ETFs which added to the bearish sentiment. In other segments, we saw notable outflows from dividend ETFs but inflows into REITs.
China (-$1.7bn) - Outflows primarily from China A Share indices. Leveraged long and multi-factor strategies also saw material redemptions. However, a selection of sector ETFs (IT, Consumer Staples and Financials) had interest.
Korea (-$351mn) - A single ETF tracking leveraged long KOSPI 200 had significant outflows which more than offset inflows into other segments.
Taiwan (-$312mn) - Although we observed net negative flows, sentiment was mixed where there were outflows not only from an ETF tracking TSEC Taiwan Top 50 but also from an inverse ETF tracking the same index. Further, there were inflows into low vol and dividend ETFs.
Hong Kong(-$247mn), Singapore (+$116mn) - Hong Kong outflow were into HSI while for Singapore investors were interested in Real Estate. Fixed Income (+$1.5bn inflow): China money market ETF segment saw inflows of +$1.4bn. Commodity (-$68mn outflow): Outflow of -$108mn from crude oil based ETFs.
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Source: Deutsche Bank Research-Asia-Synthetic Equity & Index Strategy
Without Regional Collaboration, South-East Asia Will Struggle in the Fourth Industrial Revolution
November 14, 2017--Technological and regulatory challenges of the Fourth Industrial Revolution must be addressed at the regional level
The World Economic Forum and the Asian Development Bank (ADB) today launched a new report, ASEAN 4.0: What Does the Fourth Industrial Revolution Mean for Regional Economic Integration?
The report highlights the transformative impact of new technologies on the region and offers recommendations for ASEAN leaders to consider if the region is to prosper
To successfully deal with the profound challenges of the Fourth Industrial Revolution, member states of the Association of Southeast Asian Nations (ASEAN) need to improve their collaboration.
view the World Economic White paper-ASEAN 4.0: What does the Fourth Industrial Revolution mean
for regional economic integration?
November 2017
Source: WEF (World Economic Forum)