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ChinaAMC MSCI China A ETF Offers an Opportunity to Capture the Momentum of A Share Market
March 25, 2015--With the listing of China's first MSCI China A Index tracking exchange-traded fund ("ETF") on the Shanghai Stock Exchange managed by China Asset Management Co., Limited ("ChinaAMC"), foreign and domestic investors are now able to capture the opportunity of A share market through the aforementioned listed vehicle.
ChinaAMC MSCI China A ETF(512990) commenced trading on the Shanghai Stock Exchange on March 25. The ETF was traded at between RMB1.092 and RMB1.118 per unit on the first day of trading and closed at RMB1.108 per unit. Approximately 2,001 million units of the ETF changed hands, representing a total turnover of approximately RMB2,213 million on its trading debut.
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Source: MarketWatch
Value Partners launches value A-share ETF
March 25, 2015--Value Partners, one of the region's biggest independent asset managers, has launched its latest RQFII A-shares ETF, targeting those stocks its proprietary screening process deems to be undervalued.
The ETF, launched through its Value Partners Hong Kong Limited subsidiary, will track a customised index as it seeks to deliver excess returns. The Value China A-share ETF listed on the Hong Kong Stock Exchange on March 24.
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Source: Asia Asset Management
Asian Development Outlook 2015: Financing Asia's Future Growth
March 24, 2015--ADB's Asian Development Outlook (ADO) 2015 projects that Developing Asia will grow at a steady 6.3% in 2015 and 2016, supported by a strengthening recovery in the major industrial economies and soft global commodity prices.
The drop in international oil prices is taking pressure off of consumer prices. Inflation will slow from 3.1% in 2014 to 2.6% in 2015.
view the Asian Development Outlook 2015 Financing Asia's Future Growth
Source: Asian Development Bank (ADB)
BetaShares-Bassanese's Market Insights:
March 24, 2015--June Fed meeting still "live"
Contrary to the general market reaction following the United States Federal Reserve policy meeting last week, we still feel there's a good chance that the Fed could raise rates as early as June.
The longer the Fed delays in raising rates, moreover, the greater the risk of asset price bubbles developing-which the Bank of International Settlements has recently suggested could be a greater economic risk than price deflation.
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Source: BetaShares
STOXX Opens Office in Australia
New office covering Australia and New Zealand expands STOXX's global presence
March 24, 2015--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced the expansion of its presence in Asia/Pacific with the opening of a new office in Sydney.
Jonathan Morgan has been appointed STOXX regional director and will head the new Sydney office, with responsibility for STOXX operations in Australia and New Zealand. With more than 15 years of experience in the Australian financial industry, Mr Morgan joins STOXX from S&P Dow Jones Indices (SPDJI), where he was responsible for Channel Management across all client groups. Before joining SPDJI, Mr Morgan held various positions at the Australian Securities Exchange. In his new role, Mr Morgan will report to Shirley Low, head of Asia/Pacific for STOXX.
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Source: STOXX
China Construction Bank picks Euroclear's international ETF structure for first RMB listing
March 23, 2015--Euroclear Bank, the Brussels-based international central securities depository (ICSD), and CCB International Asset Management Limited (CCBIAM), the asset management arm of CCB International (Holdings) Limited ("CCB International"), and Commerzbank AG have teamed-up to issue the first ever RMB-denominated money market ETF
in international form: Commerzbank CCBI Investment Funds ICVC-Commerzbank CCBI RQFII Money Market UCITS ETF.
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Source: Euroclear
China Business Sentiment Deteriorates Further
Sentiment Falls as Deflationary Pressures Intensify
March 20, 2015--China's largest companies reported a worsening in business confidence in March according to the latest MNI China Business Sentiment Survey.
The MNI China Business Sentiment Indicator, a gauge of current business sentiment, fell for the third consecutive month to 52.2 in March from 52.8 in February, leaving confidence at the lowest level since October last year. The slight weakening comes in spite of the recent stimulus measures implemented by the PBOC in February. A pick-up in new orders and comments by party officials indicating that there are more tools to contain the slowdown helped drag the Future Expectations Indicator from February's series low, placing it above the level of the current indicator, a sign that firms expect the situation to improve.
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Source: MNI Indicators
China Starts 10-Year Bond Futures Trading as Rate Controls Ease
March 19, 2015--China will allow trading of 10-year government bond futures, the latest step in a plan to build a market-based yield curve and liberalize interest rates.
The China Financial Futures Exchange will officially list the 10-year contracts on Friday, after allowing trading of five-year sovereign debt futures in September 2013.
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Source: Bloomberg
Structural reforms can help China settle into a "new normal" era of slower, but more sustainable and inclusive growth
March 19, 2015--After three decades of extraordinary economic development, China is shifting to a slower and more sustainable growth path.
Further reforms are now needed to ensure that future growth is resilient, inclusive and green, according to the OECD's latest Economic Survey of China. The OECD forecasts that China’s GDP will grow by 7% this year and 6.9% in 2016.
"Following one of the most tremendous economic expansions in world history, China's gradual transition towards a 'new normal' of slower, more sustainable growth is to be welcomed" OECD Secretary-General Angel Gurría said. "China knows how to grow at a blistering pace. The challenge now is to ensure that future growth occurs on a more durable and inclusive footing."
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Source: OECD
IMF Survey-Indonesia-Moving in a New Direction
March 19, 2015--Significant steps bolster Indonesia's resiliency to shocks
Fuel subsidy reforms make room for growth-enhancing spending
Policies aim to raise growth potential and entrench macroeconomic stability
Sound macroeconomic management and exchange rate flexibility over the past 18 months have bolstered Indonesia's policy credibility and its resiliency to shocks, say IMF economists.
The country's macroeconomic fundamentals, and reserve buffers have also been strengthened through a clearer policy framework, and better policy coordination, they add.
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Source: IMF Survey