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DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Market Review-Over $600mn inflows to Taiwan and Korea
July 30, 2013--Data in this report is as of 26th July 2013.
Market Review
Last week, all the major markets in the Asia-Pacific region remained in positive territory except Japan. Compared to the week before, from north to south:
Japan (Nikkei 225) -3.15%
South Korea (KOSPI2) +2.38%
China (CSI 300) +1.53%
Hong Kong (HSI) +2.84%
Singapore (FSSTI) +0.71%
Australia (S&P/ASX 200) +1.41%
New Product Launch Review
There was no new ETP listing in the last week.
ETP Weekly Cash Flows-Moderate inflows over the week
Last week, Asia-Pacific ETP market recorded cash inflows of +$171mn vs. -$62mn of outflows for the previous week, setting the YTD weekly flows average at +$379mn (+$11.4bn YTD in total cash flows). Emerging markets equity ETFs collected largest weekly cash inflows of +$600mn while strategy ETFs lost -$378mn in cash outflows over the last week. On a country level, ETFs benchmarked to Taiwan and South Korea received +$417mn and +$186mn of cash inflows. On the contrary, leveraged long equity ETFs experienced weekly outflows of -$420mn.
At ETP level, Mirae Asset MAPS Tiger 200 ETF (102110 KS), Fubon MSCI Taiwan ETF (0057 TT) and Polaris MSCI Taiwan Index Fund (006203 TT) were the largest cash flow receiver of the week collecting +$244mn, +$215mn and +$110mn respectively. Over the same period, biggest outflows were experienced by Samsung Kodex Leverage ETF (122630 KS), Next Funds Nikkei 225 Leverage Index ETF (1570 JP) and Nomura Nikkei 225 ETF (1321 JP) recording -$212mn, -$167mn and -$110mn of outflows.
Turnover Review – Floor activity up by 1.6%
Asia-Pacific ETP turnover totaled $12.2bn for the last week, 1.6% above from the previous week’s total. Japan took the lead in the turnover ranking with $3.7bn turnover, followed by Korea ($3.2bn), China ($3bn) and Hong Kong ($1.9bn). Among equity ETFs, Emerging Country, leveraged long, Asia-Pacific developed country and short ETFs had total turnover of $4.4bn, $3.6bn, $1.8bn and $0.9bn respectively. Within the commodity asset class, turnover in gold ETPs totaled $78mn.
Assets under Management Review – Assets added $1.1bn
Last week, Asia-Pacific ETP AUM increased by $1.1bn, and ended the week at $154.5bn. On a year-to-date basis, Asia-Pacific ETP market is up by $18.5bn or 13.6% above last year’s closing.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Asia
Direxion wins HK licence, adds saleswoman
July 30, 2013--The US exchange-traded funds provider has begun marketing its products to professional and institutional investors in the territory.
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Source: Asian Investor
IRDA to soon notify proposed ETF as an investment product for insurance firms
July 30, 2013--The insurance sector regulator will soon notify the proposed central public sector enterprises-exchange traded fund as an investment product for insurance firms, a senior finance ministry official has said.
This follows deliberations between the finance ministry and the Insurance Development and Regulatory Authority.
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Source: Economic Times
FMIC to offer, list P1B exchange traded funds
July 29, 2013--The Metrobank group's First Metro Investment Corp. seeks to be the first institution to roll out exchange traded funds (ETFs) in the country with the targeted offering of P1 billion worth of shares of a pioneering fund that will debut on the local stock exchange by September.
This developed as market experts and regulators are set to convene on Tuesday to work on the introduction of ETFs in the Philippines, one of the last markets in the region to open up to this fast-growing asset class.
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Source: Businessinquirer.net
Gov't to levy tax on derivatives trading from next year
July 28, 2013--The government will push to impose a tax on derivatives trading starting next year as part of an effort to increase tax revenue, despite a strong market backlash, ministry officials said Sunday.
To that end, the Ministry of Strategy and Finance will propose a revised tax bill for 2014 to the National Assembly early next month for approval, according to the officials.
Under the revised tax bill, investors will be levied a tax of 0.001 percent of their turnover value per futures trading,
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Source: Yonhap News
SSgA's China venture to offer a broad range of products
July 26, 2013--SSGA Fund Management Co, State Street's new joint venture in China with Zhongrong International Trust, will cater to the country's retail, high net worth and institutional investors with a focus on passive and active strategies.
SSgA says the joint venture will initially focus on assisting clients targeting income and yield opportunities through local offerings of structured products and overseas index products.
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Source: IP&A
Singapore Exchange's MSCI India may lure out more FIIs
July 26, 2013---The Singapore Exchange (SGX) is planning to launch the MSCI India Index Futures to provide global investors a one-stop access to Asia's key markets, a move which could undermine the Indian government's efforts to shift the country's stock-elated activities to the domestic market.
Market experts believe that this could shift volumes from Indian bourses to Singapore as foreign investors are likely to bet more on SGX as trading costs in India are still prohibitive despite the recent cut in securities transaction tax (STT).
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Source: The Economic Times
China grants HSBC renminbi investment licence
July 25, 2013--HSBC has received approval from mainland Chinese regulators to invest renminbi onshore, the latest step in the opening up of China's financial markets to overseas funds.
The bank’s asset management arm said on Thursday that it had obtained a licence under China’s renminbi qualified institutional investor (RQFII) scheme, which will enable it to put renminbi into the country’s equity and bond markets.
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Source: FT.com
First RMB shares to start trading on SGX
July 25, 2013--Yangzijiang Shipbuilding will be the first company to have trading of its shares in Chinese Renminbi (RMB) on the Singapore Exchange's (SGX) dual currency trading platform, SGX announced Thursday.
Yangzijiang’s RMB-denominated shares will start trading on August 5.
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Source: Todayonline.com
HKFE Announces Revised Margins for iShares FTSE A50 China Index ETF Futures
July 25, 2013-- Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Monday, 29 July 2013, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract will be as outlined in
the table below. The adjustments are based on the clearing company’s normal procedures and standard margining methodology.
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Source: Hong Kong Futures Exchange Limited (HKFE)
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