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Asean Trading Link seeks to expand into ETFs, sukuk
January 7, 2013--Cross-border trading in ETFs, Reits and sukuk will soon be possible on the Asean Trading Link as exchanges strive to improve foreign investors' access to a broader product range.
Bourses in Malaysia, Singapore and Thailand are gauging investor interest in trading ETFs, structured products and Islamic bonds via the recently established Asean Trading Link.
HKEx to Introduce Options on Two A-share ETFs on 21 January
January 4, 2013--Hong Kong Exchanges and Clearing Limited (HKEx) will introduce options on Hong Kong dollar-traded units of the CSOP FTSE China A50 (CSOP A50) ETF and ChinaAMC CSI 300 Index (CAM CSI300) ETF, both of which have A shares as their underlying benchmark, on Monday, 21
January 2013 to strengthen the China dimension in its stock options offering.
Information about CSOP A50 and CAM CSI300 ETFs is available on HKEx's website.
The new options' sizes are in the following table along with the expiry months that will be available for trading when the options are introduced on 21 January.
Japan 'super-bourse' makes rocky start
January 4, 2013--Japan's super-bourse got off to a rocky start as investors sent shares of the new group down by almost a tenth in an otherwise rapidly rising market.
Shares of Japan Exchange Group (JPX) fell 9.4 per cent on Friday in Tokyo, on trading volume that was 25 times higher than the two-month average. The Nikkei 225 stock average rose 2.8 per cent.
SSgA making larger ETF pie
January 3, 2013--James Ross, global head of State Street Global Advisors (SSgA) SPDR(R) exchange traded funds (ETFs), believes that the future of ETFs in Asia depends on how strongly ETF providers can come together and develop the industry, instead of competing for market share.
“Building market share is important but it is much more about growing the pie, this is more important to us. The one thing that was forgotten in the US during the 1990s and wasn’t realized in the early 2000s is that there were few ETF sponsors back then. It was pretty much us and Barclay’s iShares at that time and although we competed for business, we also worked pretty closely together in trying to build the market. We did some joint sponsorship type of things, conferences and stuff like that and we were really focussed on building the market,” Ross says in an interview with The Asset. “If the pie is growing 20%, 30%, 40%, you don’t need to grow your piece of that pie much to be successful.”
China Macro-PMI on track for a gradual recovery
January 3, 2013--December's official PMI was 50.6, the same as November's reading, but below the market consensus of 51.
Since August, PMI readings have been steadily improving, due to seasonality and a bigger contribution from large enterprises that have benefited from China’s easing measures, which suggests that China is on track for a gradual recovery. However, some PMI sub-index readings suggest that risks still remain in the manufacturing sector. Unemployment is under noticeable pressure and the external demand outlook remains highly uncertain. In addition, although we have seen some destocking over the past couple of months it is too early to judge whether the process is coming to an end.
December’s PMI reading suggests that China is on track for a gradual recovery
December’s PMI remained flat at 50.6, the same as November, recording a third consecutive month of "expansion". The improvement over the past couple of months is partly due to seasonality, as enterprises entered the holiday production season, and partly due to an increased contribution from large enterprises which have benefited from China’s easing measures.
view report-China Macro-PMI on track for a gradual recovery
Singapore growth quells recession fears
January 2, 2013--Singapore's economy grew in the fourth quarter. avoiding a technical recession despite disappointing growth figures for 2012, government data showed on Wednesday.
Gross domestic product (GDP) rose 1.1% year-on-year in the three months to December from zero growth in the previous quarter, the Ministry of Trade and Industry said.
Thailand's SET Index closes at 1,407 points due to agreement preventing fiscal cliff
January 2, 2013--The Stock Exchange of Thailand's (SET) main stock
index (SET Index) closed up 15.52 points, or 1.11 percent, at 1,407.45 points today, a new high in the past 16 years and eleven months, or since February 7, 1996.
The increase is in the same range as that of global main indices, which
rose 1-3 percent.
SET President Charamporn Jotikasthira said the rise of the SET Index was supported by today's positive news that the U.S. Senate and House of Representatives had approved a deal to prevent the country from falling off a so-called fiscal cliff and into recession.
Securities Commission Malaysia (SC) -Capital market laws amended to drive innovation and promote market efficiency
January 2, 2013--Securities Commission Malaysia (SC) today announced the coming into force of the Capital Markets and Services (Amendment) Act 2012 (CMSA 2012), together with the issuance of several guidelines, which aim to encourage market and product innovation, promote market efficiency, and allow more informed investment decisions.
CMSA 2012 introduces a new approval framework that will facilitate the offering of a broader array of capital market products, which will effectively benefit issuers, intermediaries and investors.
The new approval framework distinguishes listed and unlisted capital market products given their distinct characteristics and differing risk profiles and applies the appropriate level of regulation commensurate with the risks attached. This enhances approval efficiency without compromising investor protection.
The SC has also released the Business Trusts Guidelines which allows for greater fund raising flexibility and provides investors with an opportunity to invest in a new asset class. The Guidelines on Private Debt Securities and Sukuk have also been revised to allow public listed companies and banks to offer bonds and sukuk to retail investors.
China's economy ends year on high note
China's economy has ended the year on a strong note with two indices showing continued expansion of the country's manufacturing sector.
January 1, 2013--China's economy has ended the year on a strong note with two indices showing continued expansion of the country's manufacturing sector.
The official purchasing managers' index, published on Tuesday, showed that the pace of expansion last month held steady from November.
November's 50.6 reading had marked a seven-month high. Readings above 50 per cent signal expansion.
Finance Ministry to delay launch of PSU's exchange traded fund
December 31, 2012--With the blockbuster response to the NMDC issue, the finance ministry is planning to push back the launch of the exchange traded fund of listed state-owned units and to 2013-14 will instead concentrate only on public offers in the current fiscal.
“There is still a lot of planning involved for the ETFs and its unlikely to be finalised by March. The thinking now is to launch it in early 2013-14,” a senior finance ministry official said.
