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HKEx Welcomes First RQFII ETF from an Offshore Fund Manager
November 26, 2013--Hong Kong Exchanges and Clearing Limited (HKEx) welcomes today's listing of the Hang Seng China A Industry Top Index Exchange Traded Fund (ETF), the world's first Renminbi Qualified Foreign Institutional Investor (RQFII) ETF from a fund manager based outside Mainland China.
Hong Kong-based Hang Seng Investment Management Limited's Hang Seng China A Industry Top Index ETF is Hong Kong's 10th RQFII ETF and the newest of the 115 ETFs listed at HKEx.
The new ETF's underlying index reflects the performance of A shares of leading Mainland companies in each of the 11 industries under the Hang Seng Industry Classification System. The ETF has a Hong Kong Dollar (HKD) counter and a Renminbi (RMB) counter so investors can buy units in either currency.
BetaShares set to increase adviser focus
November 26, 2013--Exchange traded funds (ETF) provider BetaShares will increase its presence in the financial advice space with the newly created role of director of Adviser Services.
Lyndall James has been appointed to the role and she will be responsible for leading relationships with financial advisers.
The ETF provider has created the role after realising that the Future of Financial Advice (FoFA) regulation has increased the opportunities for ETF growth.
ETF License Application for JPX-Nikkei Index 400
November 25, 2013--Japan Exchange Group, Inc., Tokyo Stock Exchange, Inc. and Nikkei Inc. are going to start to calculate JPX-Nikkei Index 400 on January 6th, 2014.
We are now accepting license applications for ETFs based on this index as follows:
1. Indices for ETF License Application
JPX-Nikkei Index 400
2. License Coverage Area
Japan
Free Float Weight for JPX-Nikkei Index 400
November 25, 2013--Japan Exchange Group, Inc. and Tokyo Stock Exchange, Inc. and Nikkei Inc. will start to calculate "JPX-Nikkei Index 400" from January 6, 2014.
The free float weight (FFW) ratio following cap-adjustment for each constituent is determined as follows..
IMF Working paper-Cross-border Activity of Japanese Banks
November 22, 2013--Summary: This paper explores the determinants of Japanese banks' overseas expansion and assesses whether the growing cross-border activity will continue under the new macroeconomic policies referred as "Abenomics". The analysis finds that Japanese banks are well positioned to scale up foreign exposures, thanks to their relative resilient balance sheets and continued growth in the region.
Stronger domestic growth in Japan could mitigate the pace, but is unlikely to reverse the expansion as global and regional pull-factors play a more prominent role in the growth of cross-border claims. Increasing cross-border activity could pose funding risks and supervisory challenges and require continued close monitoring.
view the IMF Working paper-Cross-border Activity of Japanese Banks
China rides rollercoaster love affair with Bitcoin
November 22, 2013--Such has been the explosive growth of Bitcoin in China that the country's biggest exchange for the digital currency had its logo scrawled on its front entrance in magic marker until this week.
With about $60m in daily transactions, BTCChina is, as of early this month, also the world's biggest Bitcoin exchange, accounting for nearly one-third of the global market. Not bad for a company that was officially registered only in June.
China to launch crude oil futures market
November 22, 2013--China on Friday took a step towards launching a market of its own for crude oil futures-which foreign investors may be allowed to trade.
Authorities and an existing exchange in Shanghai set up a company to operate a trading platform for the planned future contracts in the city's new free-trade zone (FTZ), state media and officials said.
China to start interbank gold swaps trading
China will start interbank swaps trading next week in a move to further open up the domestic precious metals market.
November 22, 2013-- China, on track to overtake India as the world's largest gold consumer this year, will start interbank swaps trading next week in a move to further open up the domestic precious metals trading.
Trading will start Nov. 25 on the Shanghai-based China Foreign Exchange Trade System, according to a statement by the National Interbank Funding Center today.
Hong Kong not ready for ETF fee war, yet
November 22, 2013--Hong Kong's exchange traded fund market has all the makings of a fee war, except a reason to wage it.
Vanguard, whose low-cost structure has created a US ETF juggernaut, entered Hong Kong's retail market in May, launching its first ETF. Soon thereafter, Mirae Asset Global Investment's Horizons unit launched two ETFs it touted as having the market's lowest-ever fees, while Hong Kong ETFs participating in China's offshore-renminbi investment scheme also began paring back expenses.
Chinese Yuan Index Launched Today
November 21, 2013--Securities Information Co., Ltd. (hereinafter abbreviated to 'SSI') and the Financial Channel of China Central Television (hereinafter abbreviated to 'CCTV') joint launched Chinese Yuan Index on November 21st, 2013. Chinese Yuan Index family is consist of Chinese Yuan Index (nominal exchange rate, Code: CNYX) and Chinese Yuan Real Index (real exchange rate, Code: CNYR).
Chinese Yuan Index samples nine foreign currencies-USD, EUR, JPY, HKD, AUD, CAD, GBP, RUB and MYR -in order to objectively describe the intrinsic value of Chinese Yuan and gauge the overall movement of the bilateral exchange rates of Chinese Yuan against other major currencies, as well as facilitate the reform of Chinese Yuan exchange rate.
