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TSE ETF/ETN Monthly Report for Dec 2013
January 17, 2014--Trading value record high renewed for the second consecutive month!
In December 2013, the ETF/ETN market renewed record highs with monthly trading value of approximately JPY 2.8 trillion and daily average trading value of about JPY 140 billion.
Trading of leveraged and inverse ETFs remained active, with NEXT FUNDS Nikkei 225 NEXT FUNDS Nikkei 225 Leveraged Index Exchange Traded Fund (1570) accounted for the majority of trading value for the second month in a row, while activity in leveraged issues boosted overall trading value. Nikkei 225 and TOPIX-linked issues also saw moderate growth in trading value.
Trading in TSE Mothers Core ETF (1563) rose sharply as it rose to 12th in trading value.
view the ETF/ETN Monthly Report for Dec 2013
Source: TSE
China Credit Trust Warns Shadow Bank Loans may Not Repay: Newspaper
Repayment of the 3-billion yuan ($496 million) product sold through the Industrial and Commercial Bank of China, the world's largest lender by assets, will probably be simply delayed.
January 17, 2014--A Chinese trust company warned investors that it may not repay investors of a high-yield product when it matures on January 31, state media said, promoting speculations whether it would become the precedent-setting first default of a shadow banking loan.
Repayment of the 3-billion yuan ($496 million) product sold through the Industrial and Commercial Bank of China, the world's largest lender by assets, will probably be simply delayed to avoid any possible contagion risks, reported by the China Securities Journal, quoting analysts.
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Source: caijing.com
Growth-hungry bourses beat a path to Singapore
January 16, 2014--Since it was founded by Sir Stamford Raffles in 1819, Singapore has been known as a commodity trading centre in Asia, first in rubber and tin.
Now exchanges are beating a path to the city-state as they tap the region’s fast-growing commodity and energy markets.
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Source: FT.com
DB-Synthetic Equity & Index Strategy-Asia-Asia-Pac ETF+ Quarterly Directory -Q4 2013 ETPs
January 16, 2014--The Deutsche Bank Asia-Pac ETF+ Quarterly Directory -Q4 2013 ETPs is now available. This document includes all Asia-Pacific listed exchange-traded funds (ETFs) and exchange-traded commodities (ETCs).
The directory is organized by country and asset-class-related sub sections. Within each sub section it has been sorted by ETP issuer by alphabetical order and by AUM in descending order. A number of key information points per product have been included in order to enable the reader to get an overview in their own area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US).
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Source: Deutsche Bank -Synthetic Equity & Index Strategy-Asia
Publication of the draft of the "Principles for Responsible Institutional Investors"-Japan's Stewardship Code
To promote sustainable growth of companies through investment and dialogue
January 15, 2014--The Council of Experts Concerning the Japanese Version of the Stewardship Code (Chairman: Hiroyuki Kansaku, Professor of Graduate Schools for Law and Politics/Faculty of Law, The University of Tokyo) has now published the draft of "Japan's Stewardship Code" and started to call for public comments in English.
1. Subject Document of the Call for Public Comments
The draft of the "Principles for Responsible Institutional Investors" Japan’s Stewardship Code (PDF396KB)
view the The draft of the "Principles for Responsible Institutional Investors" Japan's Stewardship Code (PDF396KB)
Source: FSA.go.jp
IMF Working paper-Fiscal Vulnerabilities and Risks from Local Government Finance in China
January 15, 2014--Summary: China weathered the global financial crisis better than most, thanks to a large and timely stimulus. This stimulus, however, was mainly in the form of off-budget infrastructure spending and thus not visible in the headline fiscal data. We construct a time series for the augmented fiscal deficit and debt-augmented to include off-budget activity-that better illustrates the counter-cyclical role of fiscal policy.
The results also show that the augmented fiscal deficit and debt are both considerably higher than the headline government data suggest. Nonetheless, at around 45 percent of GDP, the augmented debt is still at a manageable level.
view the IMF Working paper-Fiscal Vulnerabilities and Risks from Local Government Finance in China
Source: World Bank
China's finances weaker than data show, IMF report says
International Monetary Fund warns of 'macroeconomic shock' unless Beijing comes up with a better system to monitor local government debt
January 15, 2014--The mainland's fiscal position is weaker than official data shows but not significant enough to cause alarm, the IMF said in a report released yesterday
The International Monetary Fund also warned that the mainland was now "more vulnerable to a macroeconomic shock" because of its higher debt and bigger deficit.
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Source: South China Morning Post
S.Korea plans price band limits on futures, options trading
January 15, 2014--South Korea's financial regulator said on Wednesday that it plans to impose price band limits on futures and options trading after a local brokerage suffered crippling losses on erroneously placed options transactions last month.
Unlisted Hanmag Securities' capital was wiped out after the brokerage erroneously placed a series of transactions on KOSPI 200 options in December, putting it in serious jeopardy. Although Hanmag is a small brokerage and the orders did not have serious consequences for the broader market, the regulator is seeking to prevent similar incidents from recurring.
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Source: Reuters
ETF FUM hits $10 billion
January 14, 2014--The Australian exchange-traded fund (ETF) market has reached the $10 billion mark in assets under management (AUM), after about $235 million of new money flowed into the market in December.
According to the BetaShares "Australian ETF End of Year Review" for 2013, the market recorded its highest ever annual growth over the course of the year,with FUM increasing by $3.5 billion, or 55 per cent, to end the year at $10 billion.
BetaShares managing director Alex Vynokur said international equities emerged as the key trend for the year, with about $1 billion flowing towards funds offering exposure to developed equities markets.
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Source: Financial Observer
China, Hong Kong in 'Final Stretch' on Fund Mutual Recognition
January 14, 2014--Hong Kong is in the "final stretch" of talks with China on mutual recognition of funds, which will pave the way for cross-border sales, said Alexa Lam, deputy chief executive officer at the city's Securities and Futures Commission.
Both sides reached broad agreement on the scope of the project, including what funds will qualify, eligibility requirements of the managers, disclosure and investor protection, Lam said at a financial forum in Hong Kong today.
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Source: Bloomberg