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ETF/ETN Monthly Report for Sep 2012-20% Increase in Average Daily Trading Value
October 9, 2012--Average daily trading value for the ETF market in September posted a 20.42% gain on the previous month, recovering to the JPY 5 billion level for the first time in 4 months.
When compared to the 17% increase in the overall stock market, the ETF/ETN market made large gains.
With the jump in gold/silver prices due to the US's announcement of additional quantitative easing measures (QE3) on September 14, precious metal ETFs, such as "SPDR® Gold Shares (1326)", "Japan Physical Gold ETF (1540)", and "Japan Physical Silver ETF (1542)", ranked within the top 10 in terms of both monthly trading value and rate of increase in trading value.
Following the BOJ announcement of additional quantitative easing measures on September 19, active trading of "TOPIX Bear -1x ETF (1569)" was seen, with its trading value increasing 73% on the previous month. "TOPIX Bull 2x ETF (1568)" also gained 19% on the previous month, posting a leading performance for the overall ETF/ETN market.
view the TSE ETF/ETN Monthly Report for Sep 2012
Source: Tokyo Stock Exchange (TSE)
Renminbi hits 19-year high against dollar
October 9, 2012--The renminbi has jumped to its highest level in nearly two decades against the dollar in a small burst of appreciation that caught many investors flat-footed.
The Chinese currency has almost hit the upper limit of its daily trading band against the dollar on three consecutive days, a show of strength that appeared to be at odds with data pointing to a broad slowdown in the country’s economy.
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Source: IBN Live
FTSE and Bursa Malaysia introduce Shariah compliant small cap index
October 8, 2012--FTSE Group ("FTSE") and Bursa Malaysia Berhad ("Bursa Malaysia") today announced the launch of the FTSE Bursa Malaysia Small Cap Shariah Index to complement the existing FTSE Bursa Malaysia Shariah indices.
This new Shariah index is designed to provide investors with a precise benchmark for Shariah compliant investment in Malaysian small cap companies.
The FTSE Bursa Malaysia Small Cap Shariah Index was developed in response to the needs of market practitioners who noted the lack of a benchmark to track the performance of Shariah compliant small cap companies. Constituents are selected from the universe of the FTSE Bursa Malaysia Small Cap Index according to the Malaysian Securities Commission’s Shariah Advisory Council (SAC) screening methodology. The index is based on FTSE’s award winning methodology which includes free float adjustment and liquidity screens and is managed in accordance with a clear and transparent set of index rules governed by an independent index committee. It can be used as the basis of ETFs, derivatives and other index-linked products and performance benchmark.
The new FTSE Bursa Malaysia Small Cap Shariah Index forms part of the FTSE Bursa Malaysia EMAS Shariah universe and will be calculated on an end-of-day basis. Subscribers to the FTSE Bursa Malaysia Index Series will receive the new index as part of their existing data package at no extra cost.
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Source: FTSE
National Stock Exchange Of India Statement On Brief Halt In Trading In Cash Market Due To Erroneous Orders
October 5, 2012--Brief halt in trading in cash market due to erroneous orders because of erroneous quantity
Market resumed soon in the morning
Stringent action taken against member: Emkay global disabled and made to unwind positions completely
Matter being investigated thoroughly
The market opened normally today and Nifty opened at 5,815.
At 9.50.58, the Nifty circuit filter got triggered, upon which the cash market was closed automatically. The Nifty fall was apparently on account of the entry of 59 erroneous orders, which resulted in multiple trades for an aggregate value of over Rs. 650 crore.
These orders were entered by a trading member, Emkay Global Financial Services, on behalf of an institutional client. These non-algo market orders have been entered for an erroneous quantity which resulted in executing trades at multiple price points across the entire order book, thereby causing the circuit filter to be triggered. These orders have been identified to a specific dealer terminal.
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Source: NSE
Singapore Small Cap Index up 7% in September
October 5, 2012--Following the semi-annual review in September the FTSE ST Small Cap Index is made up of 81 stocks. The full market capitalisation of the index totals S$31.5 billion.
The FTSE ST Small Cap Index gained 7.02% in September versus the FTSE All Share Index which gained 1.86%. In the 12 months ending with the last trading session of September, the FTSE ST Small Cap Index had gained 20.80%.
The top 5 performing small cap stocks in September were Yoma Strategic Holdings, Ausgroup, Ezion Holding, Midas Holdings and SC Global.
The FTSE ST Small Cap Index now comprises 81 stocks with a full market capitalisation of $31.5 billion. Before the September semi-annual review the index consisted of 99 stocks.
Within the size segments of the FTSE ST All-share Index, small cap companies had the best performance in September with the FTSE ST Small Cap Index up 7.02%, followed by the FTSE ST Mid Cap Index gaining by 3.64%. The FTSE ST All-Share Index gained 1.86% in September.
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Source: SGX
Constituent Change In TOPIX New Index Series
October 5, 2012--Tokyo Stock Exchange, Inc. (TSE) will make changes to the constituents of the TOPIX New Index Series, including TOPIX Core30, TOPIX 100, TOPIX 500 and TOPIX 1000, effective on Friday, October 28, 2011.
Indices in the TOPIX New Index Series are free-float adjusted market capitalization-weighted indices based on companies listed on the TSE First Section and are widely used as sub-indices of TOPIX. Component stocks of the indices series are reviewed according to free-float adjusted market capitalization and liquidity (trading value) and it will be conducted annually in October.
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Source: Tokyo Stock Exchange (TSE)
Indian shares suffer $60bn ‘flash crash’
October 5, 2012--Almost $60bn was temporarily wiped from the stock market value of India's biggest companies on Friday when a "flash crash" on the country's stock exchange triggered a near 16 per cent slide in the main index.
India’s National Stock Exchange, Asia’s fourth largest bourse based in Mumbai, was forced to halt trading briefly after 59 erroneous orders from a basket of trades caused the so-called “Nifty” index to drop as much as 15.6 per cent within minutes.
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Source: FT.com
India Eases Limits on Investment
October 4, 2012--India's government deepened a recent push to further open its economy, approving a long-pending plan to allow more overseas investments in insurance and opening the pension sector to foreign investors.
The cabinet on Thursday approved raising the limit on foreign ownership of local insurance companies to 49% from 26%. It also permitted overseas investors to own up to a 49% stake in domestic pension-fund managers—the first such investment that has been allowed.
The decisions come on the heels of moves last month to allow greater foreign participation in the retail, airline and broadcasting sectors.
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Source: Wall Street Journal
Commodities' Engine Stalls
Slowdown in China Cuts Demand For Raw Materials, Turning Some Investors Away.
October 3, 2012--For years, commodities investors had it easy-just buy anything that China was buying.
Now, with China's growth slowing and demand for raw materials easing, investors are being forced to work a bit harder.
Some investors have turned away from commodities that are heavily dependent on Chinese demand, such as base metals, cotton and soybeans. Others are searching for areas that will continue to expand no matter what happens in China, such as the U.S. natural-gas market. And some are simply getting out of commodities completely.
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Source: Wall Street Journal
Vanguard Switch to FTSE May Prompt Selling in South Korea Stocks
OCtober 3, 2102--Vanguard Group Inc.'s emerging markets fund managers will need to sell shares of South Korean (KOSPI) companies after the largest U.S. mutual-fund company replaced MSCI Inc. (MSCI) with FTSE Group as the benchmark provider for six equity funds.
The FTSE Emerging Index, which classifies South Korea as a developed market, will replace the MSCI Emerging Markets Index as the benchmark for the Vanguard Emerging Markets Stock Index Fund (VEIEX), Vanguard said in a statement yesterday. Six Vanguard international index funds with assets of $170 billion will transition to benchmarks in the FTSE Global Equity Index Series, according to the statement.
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Source: Bloomberg