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Vietnam's economy is forecast to grow by about 4.8 percent in 2021: WB
August 24, 2021--Vietnam's GDP is expected to expand by about 4.8 percent in 2021, although it has posted a robust economic performance in the first half of this year. This forecast, two percentage points lower than the projection made by the World Bank Group in December 2020, accounts for the negative impacts of the ongoing COVID-19 wave on economic activity.
The forecast was made in the latest edition of Taking Stock- the World Bank's biannual update on Vietnam's economic performance released today- highlighting the economic pains associated with the most recent COVID-19 outbreak. The mobility measures adopted by the government to contain the pandemic have hit the economy domestically.
view the Taking Stock:Digital Vietnam -The Path to Tomorrow report
Source: World Bank
Japan's economy rebounds in Q2, COVID clouds outlook
August 15, 2021--Japan's economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic's initial hit.
But many analysts expect growth to remain modest in the current quarter as state of emergency curbs reimposed to combat a spike in infections weigh on household spending.
The world's third-largest economy grew an annualised 1.3% in April-June after a revised 3.7% slump in the first quarter, preliminary gross domestic product (GDP) data showed on Monday, beating a median market forecast for a 0.7% gain.
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Source: yahoo.com
China Signals Its Regulatory Crackdown Will Go On for Years
August 11, 2021--Authorities release five-year plan to strengthen rule of law
Calls for greater law enforcement across a range of sectors
China released a five-year blueprint calling for greater regulation of vast parts of the economy, providing a sweeping framework for the broader crackdown on key industries that has left investors reeling.
The document, jointly issued late Wednesday by the State Council and the Communist Party's Central Committee, said authorities would "actively" work on legislation in areas including national security, technology and monopolies. Law enforcement will be strengthened in sectors ranging from food and drugs to big data and artificial intelligence, the document said.
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Source: bloomberg.com
ASX Investment Products Monthly Update-July 2021
August 8, 2021--In July 2021, total assets under management of all ASX Investment Products increased from $410.65b to $423.05b.
ETPs were up 2.6% (up from $113.52b to $116.5b), mFunds were up 1.1% (up from $1.74b to $1.76b),
LICs & LITs were up 2.1% (up from $58.34b to $59.54b), AREITs were up 0.5% (up from $155.1b to $155.9b) and Infrastructure Funds were up 9.0% (up from $81.97b to $89.35b).
ASX also welcomed 1 new ASX Investment Product in the month of July.
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Source: asx.com.au
IMF Staff Country Report-Philippines: Selected Issues
August 6, 2021--POTENTIAL OUTPUT AND SCARRING EFFECTS1
The COVID-19 pandemic led to a major economic downturn in the Philippines that could inflict longer-lasting adverse effects on the economy. These scarring effects reflect persistent pandemic effects on tourism and a few other service sectors, lower investment, skilllosses from high un-and underemployment, and increases in poverty.
Expansionary fiscal policy to stimulate demand and investment, measures to resolve a possible corporate debt overhang after the pandemic, and labor market policies to encourage sectoral reallocation would help to mitigate the extent of economic scarring.
A. Recent Developments1.
The COVID-19 pandemic led to a major economic downturn in the Philippines, although a rebound is now underway. Economic activity was negatively affected by the disruption to supply from the pandemic and containment measures. Real GDP in2020 decreased by 9.6percent and unemployment rate rose to 10.4 percent in 2020 from 5.1 percent in2019.With the easing of containment measuresand policy support, economic recovery started in the second half of 2020. However, the COVID-19 impact has not yet been reversed, and a second wave of COVID-19 infections emerging in 2021 has slowed down the recovery. The real GDP level in the first quarter of 2021was still 4.2 percent lower than it was in the same quarter of last year. The unemployment rate also remained at 8.2 percent in first five months of 2021.
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Source: IMF.org
Indxx Licenses SPAC & NextGen IPO and US Green Infrastructure Indices to Korea Investment Management Co. for two Exchange Traded Funds
August 5, 2021--Indxx is pleased to announce the licensing of their Indxx SPAC & NextGen IPO Index and the Indxx US Green Infrastructure Index to Korea Investment Management Co. for two Exchange Traded Funds. The indices will serve as the underlying benchmarks for the KIM KINDEX US SPAC&IPO INDXX ETF and KIM KINDEX US Green Theme INDXX ETF, respectively.
Both funds are listed on the Korea Exchange (KRX). The Indxx SPAC & Next Generation IPO Index (Ticker:ISPACP) benchmarking the KIM KINDEX US SPAC & IPO INDXX ETF (Ticker:391590 KS Equity), seeks to accurately and comprehensively increase exposure to newly listed Special Purpose Acquisitions Corporations ("SPACs"), ex-warrant and initial public offerings derived from SPACs since August 1, 2017.
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Source: Indxx
China green energy ETFs deliver best performance in first half
August 3, 2021--China's Green Energy ETFs surpassed other thematic and broad ETF strategies in early 2021 in signs of an economic shift to greener energy and more environmentally friendly consumer products.
According to Wind Info data, ETFs investing in green energy dominate the list of China's best performing ETFs in the first six months of the year, with seven out of ten ETFs dominated green energy.
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Source: californianewstimes.com
Delta Variant Stalls Asia's Economic Recovery After Early Rebound
August 2, 2021--Rising Covid-19 cases and slow progress on vaccinations begin to paralyze region that had kept virus in check
Asia is emerging as a weak link in an otherwise strong global economic recovery, as new pandemic restrictions restrain manufacturing in some countries and the exports that have powered the recovery in China show signs of slowing.
With progress on vaccinations slower than in the West, Asia is hitting new pandemic highs driven by the Delta variant of the coronavirus. The spread of the virus is threatening to hurt consumer confidence and erode the advantage of many Asian economies as manufacturing powerhouses.
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Source: wsj.com
Taiwan's thematic ETF market takes off as competition increases
July 23, 2021--The number of new thematic exchange-traded funds in Taiwan has skyrocketed this year as fund managers strive to stand out in the face of intensifying competition.
Recently launched in Taiwan, ETFs focus on the domestic semiconductor sector and electric vehicles.
At least four additional thematic ETFs are underway, with themes such as "Future Vehicles," "Global Genomics," and "Immune Biopharmacy."
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Source: californianewstimes.com
CSOP Expands Thematic Offering and Issues Healthcare-Based ETF Tracking Greater China Companies Disrupting Traditional Healthcare Businesses
July 21, 2021--The COVID-19 pandemic required businesses to innovate on short notice, catalyzing business transformations in the entire global healthcare ecosystem.
The strain on healthcare providers' infrastructure, workforce, and supply chain management exposed inefficiencies, which are valeted by new companies disrupting traditional healthcare systems. Especially Chinese companies yield an advantage, as a recent report stated enhanced policy support from the Chinese government and domestic talent from returning students who studied abroad as one of the main drivers of Chinese companies' innovation capacity[1]. Hong Kong's major ETF issuer CSOP pools the opportunity in performance of innovative healthcare pioneers in one new ETF, the CSOP China Healthcare Disruption Index ETF (3174.HK). The ETF tracks the Solactive China Healthcare Disruption Index.
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Source: Solactive AG