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China will continue separating financial businesses, says c.bank governor
October 22, 2021--China will continue to separate the operation of banking, securities and insurance businesses to maintain a stable financial system, its Central Bank Governor Yi Gang said on Thursday.
In remarks at the Financial Street Forum in Beijing, he said that overly complicated financial business and product design would accelerate risks spreading to other sectors.
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Source: reuters.com
Mirae Asset TIGER US Tech Top 10 INDXX ETF gathers $700 million after six months of launch
October 20, 2021--Indxx is pleased to announce that the Mirae Asset TIGER US Tech Top 10 INDXX ETF (hereinafter referred to as "USTTT", Ticker: 381170 KS) has reached $700 million in assets since its 9 April 2021 launch.
The USTTT Index (Ticker: IUST10T) tracks the performance of the top 10 largest tech-oriented companies that are listed on the NASDAQ Stock Exchange.
Rahul Sen Sharma, Managing Partner at Indxx, said "We're extremely proud of being associated with the TIGER US Tech Top 10 INDXX ETF. The pace of growth of this fund is truly impressive. The highly focused exposure to tech-oriented companies has gained immense traction from Korean investors. Congratulations to the entire team at Mirae Asset Global Investments. We wish them continued success."
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Source: Indxx
Evergrande share trading halt pushes HKEX suspensions to record $61bn
October 19, 2021--Hong Kong's reputation has been hit by indebted developer's lack of updates
Problematic real estate developer Evergrande Stopped trading in an exchange declaration from the latter for Hong Kong-listed shares and shares in the real estate services sector on October 4, the move was said to have taken place prior to the "possible general offer"of the shares.
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Source: ft.com
India: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for India
October 15, 2021--Summary:
The ongoing COVID-19 pandemic has created a prolonged health crisis. Economic activity was slowing prior to the pandemic. Two COVID-19 waves have resulted in a deep and broad-based economic downturn with the potential for a longer lasting impact.
The authorities have responded with fiscal policy, including scaled-up support to vulnerable groups, monetary policy easing and liquidity provision, and accommodative financial sector and regulatory policies. Despite the pandemic, the authorities have continued to implement structural reforms
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Source: imf.org
Hong Kong Muscles In on Singapore's China Stock Futures Monopoly
October 15, 2021-- Hong Kong is starting futures contracts that make it easier for international investors to bet on mainland Chinese stocks, intensifying rivalry between the city's bourse and its Singapore counterpart.
Analysts expect that the new product, which launches Monday, from Hong Kong Exchanges & Clearing Ltd. could take several years to gain traction, but that it will ultimately provide formidable competition to the offering available from Singapore Exchange Ltd.
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Source: bnnbloomberg.ca
Indxx Developed Markets Fintech & DeFi Index Licensed by ETF Securities Australia for an Exchange Traded Fund
October 14, 2021--Indxx is pleased to announce the licensing of their Indxx Developed Markets Fintech & DeFi Index to Australia-based, ETF Securities. The index will serve as the underlying benchmark for ETFS Fintech & Blockchain ETF (FTEC AU Equity).
The Index (Ticker: IFINDEFN) is designed to track the performance of companies that are disrupting existing business models in the financial services industry by offering technology-driven financial services and facilitating a decentralized finance infrastructure.
In this context, global fintech and decentralized finance companies are classified into the following sub-themes: digital payments, trading and capital markets, financial data provision and analysis, point-of-sale, personal finance software, tax compliance software and backend payment processing, decentralized finance, financial enterprise solutions and peer-to-peer lending and crowdfunding.
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Source: Indxx
Axa joint venture jumps on China electric-car ETF bandwagon
October 12, 2021--The launch means there are now four ETFs tracking the narrow theme, all of which listed in the past six months
Only six months after entering the first market, Axa SPDB Investment Managers will launch China's fourth smart electric vehicle-themed exchange-traded fund.
The Axa SPDB CSI Intelligent Electric Vehicle ETF list is after E-Fund Management deployed China's first autonomous electric vehicle-focused ETF in April and two more similar fund strategies were launched in July.
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Source: ft.com
ETF Securities Releases First Ever Pure Play Hydrogen ETF in Australia
October 7, 2021--Achieving net-zero emission is among the most pressing matters for coming decades. Hydrogen, the most plentiful element in the entire universe, plays a crucial role in these plans. The amount and scope of projects in this field are increasing, and companies, policymakers, as well as regulators, are raising their investments and attention.
ETF Securities recognizes the need for action and released its ETFS Hydrogen ETF, tracking companies that have business operations in the field of hydrogen. The ETF tracks the Solactive Global Hydrogen ESG Index.
The mission to curb the emission from vehicles and reduce air pollutions across countries by 2050 has heightened the demand for fuel cell electric vehicles. Hydrogen serves as one of the promising clean energy sources in the fight against climate change. Hydrogen is used to power these FCEV vehicles, making it an affordable, environmentally friendly, and safe transportation option. It will continuously play a critical role in meeting green production targets and transitioning to a sustainable energy future. Therefore, hydrogen is at the forefront of policymaking and currently has over 200 projects exceeding $300B USD planned in the private sector. The demand for green energy is only increasing as we approach the 2050 timeline, with many countries aiming for even earlier implementation.
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Source: Solactive
South Asian Economies Recover Amidst Uncertainties
October 7, 2021--Shifting gears to services-led growth can help build back better
South Asia's recovery continues as global demand rebounded and targeted containment measures helped minimize the economic impacts of the recent waves of COVID-19. But the recovery remains fragile and uneven, and most countries are far from pre-pandemic trend levels, says the World Bank in its twice-yearly regional update.
The latest South Asia Economic Focus titled Shifting Gears: Digitization and Services-Led Development projects the region to grow by 7.1 percent in 2021 and 2022. While the year-on-year growth remains strong in the region, albeit from a very low base in 2020, the recovery has been uneven across countries and sectors. South Asia's average annual growth is forecast to be 3.4 percent over 2020-23, which is 3 percentage points less than it was in the four years preceding the pandemic.
view the South Asia Economic Focus-Shifting Gears: Digitization and Services-Led Development
Source: World Bank
Hong Kong faces worst quarter for stock listings since pandemic
September 30, 2021--IPO freeze underscores city's vulnerability to Beijing crackdown on tech sector
Hong Kong's stock market is on track for its worst quarter for new listings since the earliest days of the Covid-19 pandemic, after a regulatory crackdown on Chinese technology groups stifled the flow of lucrative share sales vital to the city's exchange.
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Source: ft.com