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HKEx Welcomes its First ETF on a CESC Index
August 26, 2013--Hong Kong Exchanges and Clearing Limited (HKEx) welcomes today's listing of the ChinaAMC CES China A80 Index Exchange Traded Fund (ETF), the first ETF on an index from China Exchanges Services Company Limited (CESC), HKEx's joint venture with the Shanghai and Shenzhen stock exchanges.
The CES China A80 Index is part of the China Cross Border Index Series developed by CESC.
The ChinaAMC CES China A80 Index ETF is the first CESC index product in HKEx's securities market, the seventh Renminbi Qualified Foreign Institutional Investors (RQFII) ETF listed in Hong Kong and the seventh ETF available for trading and settlement in both renminbi (RMB) and Hong Kong dollars (HKD) at HKEx. The stock codes of the ETF are 3180 (HKD) and 83180 (RMB).
With today’s listing, there are nine RMB-denominated ETFs on the Stock Exchange and the total number of listed ETFs has increased to 112, compared with 100 at the end of last year.
Hong Kong shares rise on brighter China outlook
August 26, 2013--Hong Kong shares ended higher on Monday, lifted by Chinese financial and energy shares, as investors cheered comments from Beijing that signalled China's economy is getting back on a stable track.
On Monday, the Hang Seng Index closed up 0.7 percent at 22,005.32 points, while the China Enterprises Index of the top Chinese listings in Hong Kong rose 1.4 percent. Both had their biggest daily percentage gains since Aug. 13. In the morning, the state statistics bureau said China's economy is showing clear signs of stabilisation, helped by policy support and some improvement in global demand, and is on track to meet the government's 2013 growth target of 7.5 percent.
Shanghai Exchange Mulls Circuit Breaker After Everbright Error
August 25, 2013-The Shanghai Stock Exchange is considering setting up a circuit-breaking mechanism as part of efforts to avoid a repeat of a trading error on Aug. 16 that triggered the biggest swing in its benchmark index since 2009.
The exchange will also study the possibility of allowing the cancellation of trades during incidents similar to the erroneous buy orders made by Everbright Securities Co. (601788), an unidentified spokesman from the stock exchange said yesterday in comments on its Weibo, Sina Corp.'s Twitter-like microblogging platform.
Crashing markets spell trouble for India
August 23, 2013--The collapse of the rupee is derailing India's hopes of raising more than $6bn from the sale of stakes in state-run firms, jeopardising a key plank of Finance Minister P Chidambaram's blueprint to reverse the country's economic malaise.
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
Thai Bourse Lists KTAM SET ICT ETF Tracker On August 27
August 23, 2013--The Stock Exchange of Thailand (SET) will list KTAM SET ICT ETF Tracker,managed by Krung Thai Asset Management pcl, on its main
board on August 27, under the ticker symbol "EICT".
EICT, an open-end exchange-traded fund (ETF), will track the performance of the SET Information and Communication Technology Sector Index, enabling investors togain yields following the business growth of information and communication technology.
Kesara Manchusree, SET Executive Vice President and Head of the Markets Division, said: "ICT-related stocks have been consistently popular for investors, as the telecommunication, communication, and mobile phone businesses show promising growth. In aggregate, these sectors' net profit in the first half of this year rose 14 percent from a year earlier,"
BNY Mellon appoints new country head for Korea
Investment firm appoints former Deutsche Asset Management man to senior role within Asia Pacific team
August 23, 2013--BNY Mellon has named Eugene Bang as its head of Korean investment management as it seeks to strengthen its offering to Asian investors.
Bang joins the group from Deutsche Asset Management Korea where he served as director and country manager for the group's mutual fund business, DWS.
Investors backing global and niche ETFs
August 21, 2013--Exchange traded funds have already attracted more inflows in the first half of 2013 than in all of 2012 as investors have embraced the low-cost index approach.
But unlike previous years, the money is increasingly heading into ETFs which offer international equity exposure as the global economy shows signs of recovery, as well as specialist ETFs targeting niche areas of the market. “It’s been notable since we saw market commentary out of Europe that things were being brought under control – we’ve seen investors increasingly move money off the sidelines,” says BlackRock Australia head of retail Mark Oliver, who oversees the iShares ETF business.
FOFA changes will boost ETF investment
August 21, 2013--Exchange-traded funds are expected to be one of the beneficiaries of the FoFA (Future of Financial Advice) reforms, which became mandatory on July 1.
The reforms are focused on improving the quality of financial advice and enhancing retail investor protection. ETFs are expected to be used more by advisers to address these requirements. Alta Vista Research head of sales and corporate development, Michael Turner, says as a product, ETFs have the flexibility of direct shares and the strength of a managed fund.
"They’re liquid, low cost and offer immediate and ongoing investment and portfolio benefits,” he says.
DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Positive equity markets and inflows help AUM expansion
August 20, 2013--Data in this report is as of 16 August 2013.
Market Review
Last week, all the major markets in the Asia-Pacific region remained in positive territory except Singapore. Compared to the week before, from north to south:
Japan (Nikkei 225) +0.26%
South Korea (KOSPI2) +2.51%
China (CSI 300) +0.79%
Hong Kong (HSI) +3.26%
Singapore (FSSTI) -1%
Australia (S&P/ASX 200) +1.16%
New Product Launch Review
Last week, one new product was launched in the Asia-Pacific ETP market. Penghua Fund Management listed one equity ETF (159927 CH) on Shenzhen Stock Exchange tracking CSI 300 Index. In 2013, this is the seventh ETF listed in Asia-Pacific region which provides exposure to CSI 300 index. Among the 52 new launches this year, CSI 300 is the most tracked index depicting increasing investors’ interest towards Chinese equity markets.
ETP Weekly Cash Flows-Mild weekly inflows
Last week, Asia-Pacific ETP market recorded cash inflows of +$0.5bn vs. +$0.9bn of inflows for the previous week, setting the YTD weekly flows average at +$0.4bn (+$13bn YTD in total cash flows). Developed markets equity ETFs collected largest weekly cash inflows of +$250mn over the last week. On a country level, ETFs benchmarked to Japan and China received +$309mn and +$119mn of cash inflow respectively while Taiwan experienced weekly outflows of -$105mn.
At ETP level, Maxis Nikkei 225 ETF (1346 JP) and newly listed Penghua CSI 300 Index ETF (159927 CH) were the largest cash flow receiver of the week collecting +$409mn and +$218mn respectively. Over the same period, biggest outflows were experienced by Daiwa Topix ETF (1305 JP) recording -$121mn of outflows.
Turnover Review-Floor activity down by -4.1%
Asia-Pacific ETP turnover totaled $11.7bn for the last week, -4.1% down from the previous week’s total. China took the lead in the turnover ranking with $4bn turnover, followed by Japan ($2.9bn), Korea ($2.3bn) and Hong Kong ($2.1bn). Among equity ETFs, Emerging country, leveraged long, Asia-Pacific developed country and short ETFs had total turnover of $5.6bn, $2.6bn, $1.5bn and $0.8bn respectively. Within the commodity asset class, turnover in gold ETPs totaled $119mn.
Assets under Management Review – Assets added $1.4bn
Last week, Asia-Pacific ETP AUM increased by $1.4bn, and ended the week at $156.6bn. On a year-to-date basis, Asia-Pacific ETP market is up by $20.6bn or 15.1% above last year’s closing.
Australian ETF industry soars to reach $8 billion
August 19, 2013--The Australian exchange traded fund (ETF) industry has swelled to a record high, breaching the $8 billion mark for the first time, according to data from ETF provider BetaShares.
The total market capitalisation of the low cost index products traded on the Australian Securities Exchange (ASX) reached a total of $8.25 billion in July. Market movement was attributable for 8.1% or $618 million of the growth while a further $162 million came from capital inflows.
