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China Is Adjusting to Slower Economic Growth, Says New World Bank Report
July 3, 2015--Growth in China is expected to decelerate to 7.1 percent in 2015 and 6.9 percent by 2017, reflecting a growth trajectory that is slower but more balanced and sustainable- a "new normal" for the world's second-largest economy, according to the World Bank's China Economic Update released today.
"In the short run, the slowdown in China's economy growth means the government is making inroads with structural adjustments and policy efforts to address financial vulnerabilities. Over the medium term, these efforts are helping China gradually shift its growth model from manufacturing to services, from investment to consumption, and from exports to domestic spending," said Karlis Smits, Senior Economist and main author of the report.
view the World Bank China Economic Update-June 2015(updated July 3, 2015)
Source: World Bank
Announcement of KOSPI 200 MidSmallCap Index
July 3, 2015--Korea Exchange (KRX) announced that it will publish the KOSPI 200 MidSmallCap index which consists of outstanding mid and small capital stocks among constituent stocks of the KOSPI 200 on Monday, July 13, 2015..
Recently, the return rates of high growth mid and small cap stocks have outperformed the large cap stocks’ rates, and market interests for those mid and small cap stocks are increasing.
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Source: Korea Exchange (KRX)
Pressure rises on India's stock exchanges to list
July 2, 2015--India's government faces rising investor pressure to push forward with long-delayed plans to float the country's two main stock exchanges, according to people familiar with the situation.
Dozens of international investors bought stakes over the past decade in both the Bombay Stock Exchange, Asia's oldest bourse, and its larger rival the National Stock Exchange, many in expectation of an eventual flotation.
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Source: FT.com
Chinese relaxation of lending rules fails to support flagging stocks
July 2, 2015--Chinese shares fell again on Thursday despite moves by regulators to buoy the market, reinforcing growing concerns about the volatility of Chinese stocks.
China Securities Regulatory Commission moved late on Wednesday to relax collateral rules on margin loans.
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Source: FT.com
India business leaders pledge billions in Wi-Fi campaign
July 2, 2015--Some of India's biggest industrialists have pledged billions of dollars to back Prime Minister Narendra
Modi's ambitious plan to provide Internet connection for all.
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Source: FIN24
Reform of Market Making in Bond Market and Resumption of Collecting Trading Fee
July 2, 2015--The Korea Exchange (KRX) will introduce performance-based market making system to reinforce the liquidity of bond market, and resume collecting trading fee in bond market
to secure financial resource starting July 27, 2015.
Introduction of Performance-based Market Making System
Performance-based market making system* by bond market will be implemented to reinforce market making function of the Exchange bond market.
For government bond market and small bond market, market making system is introduced and for general bond market, the current system will be improved.
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Source: The Korea Exchange (KRX)
Van Eck Global lists Market Vectors Morningstar Wide Moat ETF
July 2, 2015--New York investment manager Van Eck Global listed its Market Vectors Morningstar Wide Moat exchange-traded fund (ETF) (ASX code: MOAT), giving Australian investors exposure to a concentrated portfolio of U.S. equities with a new twist.
This ETF seeks to leverage Morningstar, Inc. ('Morningstar')'s equity research that aims to identify companies with wide "economic moats" or the potential to maintain a competitive advantage over the long term.
The concept of economic moats was popularised by investment legend Warren Buffett. To Buffett, the castle is the business and the moat is its competitive advantage. The wider the moat, the more sustainable the business.
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Source: Professional Planner
China targets counterweight in gold trade with yuan fix
July 1, 2015--Yuan gold fix latest step by China to boost global influence
Could provide benchmark for top consuming region Asia
Full yuan convertibility could support its global use
A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer.
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Source: Reuters
India needs improved regulations for private equity: McKinsey
Says realised gross returns after 2007 have dropped to just 7% from 21% in the previous years
July 1, 2015--Private equity investors in India have seen their returns erode sharply since the global financial crisis and need regulatory changes that make it easier to invest and exit from companies, consulting firm McKinsey said in a report on Wednesday.
McKinsey said realised gross returns after 2007 have dropped to just 7% from 21% in the previous years, citing various factors including a slowing economy and expensive valuations.
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Source: Business Standard
Q&A by SSE, SZSE, CSDC Officials on Lowering Charging Standards for A-share Trading, Settlement
July 1, 2015--Q: The Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing Corporation Limited (CSDC) dramatically lowered handling fee and transfer fee for A-share trading in 2012. Will they consider further lowering the charging standards in the near future?
A: In order to further cut investors' trading cost, the SSE, the SZSE and CSDC, upon study, plan to lower the charging standards for A-share trading and settlement.
The handling fee for A-share trading bilaterally charged by the SSE and the SZSE will be adjusted from 0.0696‰ to 0.0487‰ of trading amount, with a drop of 30%, among which 0.00974‰ will be forwarded to China Securities Investor Protection Fund Corporation Limited and 0.03896‰ charged by the exchange.
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Source: Shanghai Stock Exchange
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