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Thomson Reuters Named Official Calculating Agent for CNH HIBOR Benchmark-Thomson Reuters to further facilitate internationalization of renminbi
June 21, 2013--Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, will begin compiling and publishing the Treasury Markets Association,s (TMA) offshore renminbi Hong Kong Interbank Offered Rate benchmark (CNH HIBOR benchmark), following its appointment as the official calculating agent for this key industry interest rate benchmark.
This provides a formal benchmark for market participants to reference when pricing renminbi loan and interest rate contracts.
The calculation of the CNH HIBOR benchmark is based on the rate contributions by 16 regional and global banks. The benchmark is calculated daily and is published at 11:15 am every trading day in Hong Kong.
India's Reliance Capital suspends gold sales
June 21, 2013--India's rattled bullion industry is concerned that the decision is just the beginning of a trend with other companies expected to follow suit
Are the curtains set to come down on the sale of gold in India from major institutions? In the first of its kind response to the ongoing gold import imbroglio in India, Reliance Capital has suspended sale of physical gold and all gold related investment products.
China central bank holds line on shadow banking as rates spike
June 20, 2013--China's central bank faced down the country's cash-hungry banks on Friday, letting interest rates again spike to extraordinary levels as it increases the pressure on the banks to rein in rampant informal lending and speculative trading.
The banks have been using cheap official funds to finance the vast "shadow banking" market, which Beijing worries is siphoning credit from industry and creating asset-price bubbles. The People's Bank of China (PBOC) has tried to put an end to this over the past three weeks, declining to inject significant funds into the money markets even as the interest rate for some banks to borrow short-term funds has soared to 25 percent or higher."They are trying to take a different approach to rein in shadow banking activity," Charlene Chu, senior director at Fitch Ratings, told reporters on the sidelines of a conference in Sydney.
SSE, CSI Update Industry Classification of Listed Companies
June 20, 2013--Shanghai Stock Exchange (SSE) and China Securities Index Co., Ltd (CSI) have recently published the adjusted industry classification of listed companies according to the annual reports of 2012.
The adjustment involves 35 listed companies.
SSgA reshuffles senior staff amid expansion drive
June 20, 2013--State Street Global Advisors (SSgA) has undertaken a senior staff reshuffle globally amid a drive to expand its equity and credit product lines in both active and passive investments this year.
Lochiel Crafter has...
DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Market Review-ETP market witness $1bn cash inflows, AUM increases marginally
June 18, 2013--Market Review
Last week, all the major markets in the Asia-Pacific region remained in negative territory except Australia. Compared to the week before, from north to south:
Japan (Nikkei 225) -1.48%
Korea (KOSPI2)-2.32%
China (CSI 300) -2.71%
Hong Kong (HSI) -2.81%
Singapore (FSSTI)-0.73%
Australia (S&P/ASX 200) +1.14%
New Product Launch Review
Last week, one new product was launched in the Asia-Pacific ETP market. Krung Thai Asset Management listed one Equity ETF (ECOMM TB) on Stock Exchange of Thailand tracking the SET Commerce Sector Index.
ETP Weekly Cash Flows
The Asia-Pacific ETP flows during last week totaled +$1bn vs. +$1.5bn (+1.0% of AUM) of inflows for the previous week, setting the YTD weekly flows average at +$355mn (+$8.5bn YTD in total cash flows). Developed market equity ETFs recorded inflows of +$502mn while emerging market equity ETFs registered outflows of -$201mn. Leveraged strategy ETFs witnessed the highest weekly inflows of +$779mn among all the segments. ETPs offering exposure to Japan and Hong Kong registered inflows of +$297mn and +$202mn while South Korea and China witnessed outflows of -$102mn and -$101mn respectively.
Turnover Review
Asia-Pacific ETP turnover totaled $14bn for the last week, -4.5% down by the previous week’s total. Japan continues on the top of the turnover ranking with $5bn turnover, followed by South Korea ($4.4bn), China ($2.3bn) and Hong Kong ($1.9bn). Among equity ETFs, Emerging Country, leveraged long, Asia-Pacific developed country and short ETFs had total turnovers of $5.2bn, $4.4bn, $2.5bn and $0.8bn, respectively. Among the commodity asset class, turnover in gold ETPs totaled $127mn.
Assets under Management Review
Last week, Asia-Pacific ETP AUM increased by $419mn, and ended at $145.5bn. On a year-to-date basis, Asia-Pacific ETP market is up by $9.5bn or 7.0% above last year’s closing.
SSgA boosting Asian capabilities, launches China JV
June 18, 2013--State Street Global Advisors (SSgA) is moving to strengthen its investment capabilities across Asia Pacific including in China, where it is recruiting for its freshly minted joint venture.
The US house, roughly 90% of whose assets are invested passively, has joined forces with Zhongrong International Trust, which boasts a strong distribution presence in wealth management products.
HKEx Welcomes Tomorrow''s Listing Of Hong Kong's First RMB Bond ETF
June 17, 2013--Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the listing of Asia's first offshore renminbi (RMB) bond Exchange Traded Fund (ETF) on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, scheduled for tomorrow (Tuesday).
The iShares RMB Bond Index ETF to be listed by iShares Asia Trust is a RMB-denominated physical ETF that will be traded and settled in both Hong Kong dollars (HKD) and RMB. There will be two counters of the same class, with holders of units of the counters treated equally. The two counters will have different stock codes (3139 and 83139 for the HKD and for RMB counters respectively) and slightly different names for easy identification.
Horizons ETFs Series Launches Hong Kong's Lowest-Fee ETFs
June 16, 2013--The Horizons Exchange Traded Funds Series ("Horizons ETFs Series") is happy to announce the launch of two new ETFs with the lowest fees ever found in the Hong Kong market.1
The following two ETFs will begin trading on the Hong Kong stock exchange today, substantially enhancing investors' potential returns from the China and Hong Kong growth story.
Horizons MSCI China ETF (HKSE: 3040)
Horizons Hang Seng High Dividend Yield ETF (HKSE: 3110)
"The significantly lower fees of these two new ETFs will allow investors to reduce costs and enhance index tracking precision, thereby maximizing total net returns over the long run," said Ms. Laura LUI, Head of ETF at Mirae Asset Global Investments (Hong Kong) Limited ("Mirae Asset HK"), the manager and operator of the Horizons ETFs Series
BlackRock aims to be big in Japan
CEO says Japan is critical to the US fund giant’s goal of increasing its asset base by $200bn a year
June 16, 2013--The chief executive of BlackRock, Larry Fink, said Japan is critical to the US fund giant's goal of increasing its asset base by $200 billion a year.
Fink, who was speaking at BlackRock’s annual shareholder meeting last month, said that “one of the great opportunities in the next few years for organic growth will be Japan”.
