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SGX Welcomes First Chinese Bank RMB Bond Listed and Cleared in Singapore
November 29, 2013--Singapore Exchange (SGX) today welcomed the first Chinese Bank's renminbi (RMB) bond to be listed and cleared in Singapore. The RMB bond is issued by Industrial and Commercial Bank of China's (ICBC) Singapore branch.
The bond issue is settled and cleared in RMB via SGX's Central Depository (CDP).
The bond issue is for 2 billion RMB (S408 million) at 3.2% on a 2-year tenor, maturing on 28 November 2015. According to the book runners, Singapore investors took up 55% of the bond issue and the bonds are well distributed to more than 120 accounts.
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Source: Menafn.com
Revised Shariah Screening Methodology to Spur Greater Foreign Islamic Funds Inflow
November 28, 2013--Securities Commission Malaysia (SC) will release the updated list of Shariah-compliant securities approved by its Shariah Advisory Council (SAC) on 29 November 2013, based on the revised screening methodology as announced on 18 June 2012.
Under the revised screening methodology, SAC adopts a two-tier quantitative approach which applies the business activity benchmarks and the financial ratio benchmarks. The revision has taken into consideration of the rapid development of the Islamic finance industry in Malaysia, since the Shariah screening methodology was first introduced in 1995.
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Source: Securities Commission Malaysia (SC)
Value Gold ETF adds new RMB counter
(Hong Kong Stock Code: HKD Counter -3081, RMB Counter- 83081)
November 28, 2013--Value Partners Group Limited ("Value Partners", and
together with its subsidiaries, "the Group", Hong Kong Stock Code: 806) is pleased to
announce that Sensible Asset Management Hong Kong Limited, a wholly-owned subsidiary
of the Group, has received approval from the Hong Kong Stock Exchange to adopt a dual
counter arrangement for Value Gold ETF, with effect from 29 November 2013.
Value Gold ETF was first launched in October 2010, with its trading currency denominated in
the Hong Kong dollar. The fund is the first and only ETF backed by physical gold stored in the
Hong Kong International Airport Precious Metals Depository Limited. Being the first Gold ETF
in the world with the Hong Kong dollar (HKD)/Renminbi (RMB) dual counters, it will provide
investors with an option to trade the ETF units in either of the two currencies.
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Source: Value Partners Group, Limited
BSE to launch currency derivatives trading on Friday
November 27, 2013--The Bombay Stock Exchange will launch its platform for trading in currency derivatives from Friday, making it the fourth bourse in the country to offer such trades.
Other stock exchanges present in the currency futures segment are- National Stock Exchange, MCX-SX and United Stock Exchange.
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Source: The Hindu Business Line
PBoC chairman requests enlargement of QDII, QFII schemes
November 27, 2013----People's Bank of China’s (PBoC's) chairman, Zhou Xiaochuan, has asserted that the Chinese government should further enlarge the capacities of Qualified Domestic Institutional Investor (QDII)
and Qualified Foreign Institutional Investor (QFII) pilot schemes by raising the size of their investment quotas, according to a report from China Securities Journal.
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Source: Asia Asset
IMF Working paper-Sector-Level Productivity, Structural Change, and Rebalancing in China
November 27, 2013--Summary: This paper studies structural changes underlying China's remarkable and unprecedented growth in recent years. While patterns of structural transformation across China's provinces are broadly in line with international experience, one important difference is in labor productivity differentials between services and the rest of the economy.
Specifically, the gap between labor productivity in the rest of the economy and services has widened across China's provinces as they have moved from low to middle income, which is contrary to the trend observed in cross-country experience. Evidence from a panel of China's provinces suggests that credit and labor market frictions have inhibited labor productivity growth in services relatively more than in the rest of the economy. Reducing these frictions is essential for achieving the next stage of China's development, one in which the service sector will need to play a more prominent role as an engine of growth. The evidence also suggests that improving labor productivity in services will lift the consumption share of GDP, thereby advancing the needed rebalancing of domestic demand in China.
view the IMF Working paper-Sector-Level Productivity, Structural Change, and Rebalancing in China
Source: IMF
Hang Seng China A Industry Top Index Licensed To Hang Seng Investment Management Limited
November 26, 2013--Hang Seng Indexes Company Limited ("Hang Seng Indexes") today announced that it has granted a licence to Hang Seng Investment Management Limited ("HSVM") to launch an exchange-traded fund ("ETF") linked to its Hang Seng China A Industry Top Index in Hong Kong.
Mr Vincent Kwan, Director and General Manager of Hang Seng Indexes, said:
"We are pleased to have licensed our China A Industry Top Index to HSVM for
the creation of an ETF. The Index tracks mainland China industry leaders in each
of the 11 industries under the Hang Seng Industry Classification System, with the
primary aim of providing exposure to a diverse portfolio of top Mainland
companies."
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Source: Hang Seng Indexes
Germany Presses EU to Adopt Transaction-Tax Plan Soon
November 26, 2013--Germany wants speedy action on a European Union financial-transaction tax, the German Finance Ministry said.
"The German government position continues to press for a introduction of the financial-transaction tax soon," the ministry said today in an e-mailed comment to Bloomberg."We continue to aim for a broad base combined with a low tax rate."
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TSE has published the index value of TSE Home Price Index for September view more HKEx Welcomes First RQFII ETF from an Offshore Fund Manager
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.
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Source: Bloomberg
November 26, 2013--TSE has published the index value of TSE Home Price Index for September on November 26, 2013. The index value of TSE Home Price Index (Used Condominium, Composite of Tokyo Metro Area) is 78.01 points.
The index value of TSE Home Price Index (Used Condominium, Tokyo) is 82.49 points. The index value of TSE Home Price Index (Used Condominium, Kanagawa) is 76.95 points. The index value of TSE Home Price Index (Used Condominium, Chiba) is 65.67.
Source: TSE
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.
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
