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New Listing of First ETFs Created by Norinchukin Zenkyoren Asset Management Co., Ltd-NZAM ETF J-REIT Index, NZAM ETF TOPIX Ex-Financials
March 7, 2014--Today, Tokyo Stock Exchange, Inc. (TSE) announced that "NZAM ETF J-REIT Index" (Code: 1595) and "NZAM ETF TOPIX Ex-Financials" (Code: 1596) managed by Norinchukin Zenkyoren Asset Management Co., Ltd. (NZAM) were listed on the TSE market.
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Stocks soar as new exchange gets going
March 7, 2014--THE first listings for the new Australian bourse, the Asia Pacific Stock Exchange (APX), enjoyed a stellar debut day of trade yesterday.
Chinese health and diet products company Australia Samly Holdings Group jumped 10 per cent to $1.10, while e-commerce logistics group ZhongHuanYun fared even better, adding 18.4 per cent to 90c. They listed at 11am yesterday, kicking off the restart of trade on the revamped APX.
Market Vectors new Australian Equal Weight ETF lists on ASX
March 6, 2014--Market Vectors, of US-based Investment manager Van Eck Global, has listed its new Australian Equal Weight ETF on the ASX today. Trading under the ASX code MVW, the new ETF is the first of its kind in Australia.
MVW gives investors access to a broadly diversified portfolio of the most liquid large, mid and small cap ASX
securities via a single trade on the ASX. The fund currently holds 77 securities, all of which are equally weighted at approximately 1.30%.
Market Vectors Index Solutions Licenses Australia Equal Weight Index
Index underlies Market Vectors Australia Equal Weight ETF
Index underlies Market Vectors Australia Equal Weight ETF
March 6, 2014--Market Vectors Index Solutions (MVIS) today announced the licensing of the Market Vectors Australia Equal Weight Index (MVMVWTRG) to Market Vectors Australia, the Australian exchange-traded fund (ETF) branch of Van Eck Global, the 7(th) largest provider of exchange-traded products in the US and the 10(th) largest globally.
The index serves as the underlying for the Market Vectors Australia Equal Weight ETF (ASX: MVW) which began tracking the index today.
"We are very pleased to have licensed our Australia Equal Weight Index to Market Vectors Australia and believe that its specific weighting characteristic will be attractive for an ETF tracking this index", said Lars Hamich, Chief Executive Officer at MVIS. "Compared to a traditional Australian market cap-weighted index(1) , the Market Vectors Australia Equal Weight Index is less concentrated in large-cap companies. Its equal weighting scheme changes the large-, mid- and small-cap weighting from an 80% large- and 15% mid-cap to a balanced 55% large- and 45% mid-cap breakdown. Due to the increased weighting in mid-cap companies the equal weight index has outperformed the market cap weighted index in ten out of thirteen years".
Foreigners to be mostly kept out of China's privatizations
March 6, 2014--As China embarks on a new wave of opening up state-dominated industries to private capital, foreign firms will largely be kept out and authorities are likely to look to institutions like domestic pension funds and insurers.
State giants China National Petroleum Corporation (CNPC), Sinopec Corp and China Railway Corporation have said they were seeking investments from private capital and also social capital, or funds sourced from pension funds and insurance companies. "I think those are going to be the key groups that the SOEs (state-owned enterprises) will first partner up with," said Sun Lijian, deputy director of the School of Economics at Fudan University. "It will also fit in with Beijing's strategy to diversify investment channels for its vast, locally managed pension funds." The move reflects China's desire to avoid adding further debt on to the federal government's books while injecting much-needed cash into vital sectors, but without ceding control
China Retains 7.5% Growth Target for 2014
March 5, 2014--China set a 7.5 percent target for economic growth in 2014, a pace that may make it more difficult to achieve the leadership's goals of curbing credit risks and stemming the pollution choking the nation's biggest cities.
The growth target, which is the same as last year's, will boost market confidence and protect jobs, Premier Li Keqiang told the annual meeting of the legislature in Beijing today. "We must keep economic development as the central task and maintain a proper economic growth rate," Li said.
Japan eyes Bitcoin regulations, taxes: Report
March 5, 2014--Japan may slap regulations on bitcoin including taxing transactions, a report said, as the global digital currency suffered another alleged theft that cast doubt on its reliability.
Tokyo will issue new guidelines, possibly this week, which would pave the way for firm rules that could see banks and brokerage houses restricted in how they deal in the virtual unit, leading Nikkei business daily reported without citing sources.
First China Onshore Default Looms as Chaori to Miss Payment
March 5, 2014--Shanghai Chaori Solar Energy Science & Technology Co. said it may not be able to make an 89.8 million yuan ($14.6 million) interest payment in full on March 7, in what would be the first default of an onshore bond.
The maker of energy cells to convert sunlight into power, plans to pay 4 million yuan to bondholders, the company said in a statement to the Shenzhen stock exchange yesterday.
IRDA permits insurers to invest in equity ETFs
March 3, 2014--IRDA on Monday allowed insurance companies to invest in equity Exchange Traded Funds (ETFs) with certain conditions, a move which would help boost inflows into the country's stock market.
Only passively managed schemes of the mutual funds which are registered with SEBI and governed by SEBI are eligible, IRDA said in a notification.
New ETF to be Listed on Mar. 24, 2014 (Mon.)-Nomura Asset Management"NEXT FUNDS Russell/Nomura Fundamental Index Exchange Traded Fund"
March 3, 2014--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of new ETF managed by Nomura Asset Management Co., Ltd.
This will be listed on Monday, March 24, 2014
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