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Delisting Announcement-Lyxor ETF INDIA (S&P CNX NIFTY) (Stock Code: FC6)
December 6, 2012--Delisting of the Lyxor ETF India (S&P CNX NIFTY)(the "absorbed ETF") from the Singapore Exchange Securities Trading Limited ("SGX-ST") on 7 December 2012 due to the merger of the absorbed ETF into the Lyxor ETF MSCI India (Stock Code: G1N)(the "absorbing ETF")(collectively, the "ETFs")
Further to the previous announcements dated 22 October 2012 and 22 November 2012, Lyxor International Asset Management, as the manager of the ETFs (the “Manager”), hereby announces that units of the absorbing ETF will be credited to the relevant investors’ accounts with the CDP or CDP depository agent (as the case may be) by 9 a.m. Singapore time on 7 December 2012. Investors can trade their new units of the absorbing ETF on SGX-ST from 7 December 2012.
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Source: Lyxor
China Macro-No more fiscal bullets,, but more quasi-fiscal bullets
December 6, 2012--The National People's Congress approved a fiscal deficit of Rmb800bn for this year. At first glance, this deficit appears to suggest a tightened fiscal position.
But in reality, the underlying fiscal deficit this year could amount to Rmb1.37tn − 70% more than the headline deficit figure of Rmb800bn and double the size of 2011. In our view, despite the very ambitious underlying annual deficit figure for 2012, the bullets remaining for 4Q12 are limited as expenditure has been front-loaded and revenue has been underperforming. Going forward, fiscal easing will likely rely less on budget financing and more on the non-banking financial sector (i.e. quasi-fiscal measures), which could expose vulnerabilities in the bond and the trust markets.
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Source: Rappler
2012 List of Shariah-compliant Securities by SC's Shariah Advisory Council
November 30, 2012--SC's Shariah Advisory Council has published the List of Shariah-compliant Securities.
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Source: Securities Commission Malaysia
Economic growth declines to 5.3% in July-Sept quarter
November 30, 2012--The Indian economy grew by 5.3 per cent in the July-September period of the current financial year (2012-13), pulled down by poor performance of manufacturing and agriculture sectors, showing persistent signs of slowdown.
The gross domestic product ( GDP) had expanded by 6.7 per cent in the same period of last fiscal.
It had grown by 5.5 per cent in the first quarter (April-June) of 2012-13.
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Source: Times of India
Deutsche eying synthetic-direct ETF range in Asia
November 29, 2012--Deutsche Bank's db X-trackers is in talks with regulators in Hong Kong and Singapore about launching dual synthetic-and physical-tracking versions of its exchange traded funds.
The fund unit announced plans this month to give its European customers the option of either replication method when investing in certain ETFs tracking the equity markets in Japan, Germany and the US, UK and eurozone. Until now, db X-trackers has focused on synthetic ETFs. Its physical ETFs will begin to appear next month, and the rollout will continue into 2013.
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Source: FT.com
New cross-border index to be launched
November 28, 2012--CES China 120 Index to track HK & mainland listed-firms' performances
The Hong Kong Exchanges and Clearing Ltd (HKEx), the Shanghai Stock Exchange and Shenzhen Stock Exchange will introduce the first cross-border equity market index to tap the growing demand of investors seeking exposure to mainland assets.
The CES China 120 Index, the first index in the new CESC Cross Border Index Series, covers 40 HKEx-listed mainland companies as well as 80 companies listed on the Shanghai and Shenzhen exchanges.
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Source: China Daily
Kimco launches A-share ETF in Korea
November 28, 2012--Exchange (KRX) will list Kindex CSI300 ETF on its exchange today.
This ETF is the first China A-share index ETF to be created in Korea, and it will be managed by Korea Investment Management Company (Kimco). It has an underlying index of CSI300, ...
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Source: Asian Investor
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