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DB-Equity Derivatives and Quantitative Strategy Research - Asia-Asia-Pac ETF Market Weekly Review : ETP AUM remains near all-time highs
August 20, 2012--Market Review
Last week, The Asia-Pacific region had mixed markets. From north to south, Japan (Nikkei 225) gained 3.05%, Korea (KOSPI2) fell by 0.27%, China (CSI 300) decreased by 3.59%, Hong Kong (HSI) was down by 0.10%, Singapore (FSSTI) climbed 0.26%, and Australia (S&P/ASX 200) advanced by 2.17% over the previous week.
New Launch Review
There was no new ETP listing in the last week.
Turnover Review
Asia-Pacific ETP turnover totaled $5.5bn for last week, 24% down from the previous week’s total. South Korea continued to be on top of the turnover ranking with $2.2bn, followed by China ($1.5bn), Hong Kong ($1bn), Japan ($0.5bn), and Taiwan ($0.2bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $2.6bn, $1.1bn, $0.8bn, and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $40m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM decreased by $0.5bn and ended at $115.7bn. On a year-to-date basis, Asia-Pacific ETP market is up by $24.2bn or 26.4% above last year’s closing.
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http://pull.db-gmresearch.com/p/569-5E77/49550685/Asia-Pac_ETF_Market_Weekly_Review.pdf
Source: Deutsche Bank - Equity Derivatives and Quantitative Strategy Research - Asia
Korea transaction tax could halve number of derivatives transactions
August 20, 2012--Proposal for a transaction tax on futures and options could have a dramatic impact on Korea's derivatives market
Turnover in the derivatives market in South Korea could be reduced by over 50% if a proposed new transaction tax on derivatives is approved, say market participants.
The Korean ministry of strategy and finance announced the government's proposed tax law amendments for 2013 that impose a 0.001% tax on Kospi 200 index futures trades, and a 0.01% tax on Kospi 200 index options transactions, effective from January 1, 2016.
http://www.risk.net/asia-risk/news/2199414/korea-transaction-tax-could-halve-number-of-derivative-transactions
Source: Risk.net
SSE Market Value 100 Index To Be Renamed
August 20, 2012--SSE and CSI together announced that the SSE Market Value 100 Index will be renamed as SSE Market Value Top 100 Index on Sep 4, 2012.
The shortened name will be changed into Market Value Top 100. The index's Chinese full name as well as its Chinese shortened name will also be changed accordingly. The index methodology remains unchanged.
Source: Shanghai Stock Exchange
Three Thematic Indices: SZSE SME Dividend Index and the other Two Indices are Launched Today
August 20, 2012--In order to guide the listed companies to positively reward their shareholders, improve corporation management, exercise the social responsibility, Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. jointly declared on August 20, 2012 to launch SZSE SME Dividend Index (Code: 399649, Abbreviation: SME Dividend),
SZSE SME CORP Governance Index (Code: 399650, Abbreviation: SME CORP Governance) and SZSE SME CSR Index (Code: 399651, Abbreviation: SME CSR). All of three indices take June 30, 2009 as the base date, and 1000 points as base point.
The aforesaid indices select sample stocks from companies listed in SME board. Comprehensively taking factors of profit distribution rates, market proportion of dividend in to account, SZSE SME Dividend Index selects 50 companies that have stable profit distribution history for sample stocks; SZSE SME CORP Governance Index selects 50 companies, which are well managed and have high management appraisal records according to the CNINFO comprehensive evaluation system of listed companies governance structure; SZSE SME CSR Index takes the factors of the total contribution made by the listed company to the country, employees, shareholders and creditors and thereof proportion to the company’s net asset in to account, and selects 50 companies to form the sample. All three indices set 10% as upper weights for specific stock to avoid the overweight of specific stock.
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Source: Shenzhen Stock Exchange
SINO Real Estate Index is Launched Today
August 20, 2012--Shenzhen Securities Information Co., Ltd. declared on August 20, 2012 to launch SINO Real Estate Index, which is designed to reflect the return of real estate stocks, providing investment targets in industry segments, propelling the development of index fund products.
SINO Real Estate Index (Code: 399393, Abbreviation: SINO Real Estate) takes December 31, 2004 as base day, and 1000 points as base point.
Sample space of SINO Real Estate Index is formed by A-share stocks, whose primary industry are financial real estate or secondary industry are real estate in light of CNINFO Industry Classification Standard, from Shanghai and Shenzhen markets. With average current market capitalization and market proportion of thereof average trading volume weighted in the light of 2:1, the stocks from the sample space are ranked; the top 50 stocks will be selected as sample stocks for the index. 15% upper weight is set for specific stock in order to avoid the phenomenon of specific sample stock being overweighed.
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Source: Shenzhen Stock Exchange
Comments on proposed CFTC cross--border releases on swap regulations
August 20, 2012--The Financial Services Agency and the Bank of Japan sent a comment letter on August 13, 2012 to the CFTC regarding the proposed CFTC cross-border releases on swap regulations issued for public comment.
For our comments, please follow the link below.
view JFSA-BOJ joint comment letter on proposed CFTC cross-border releases on swap regulations
Source: FSA Japan
Japan Likes Leveraged ETFs
Regulators have permitted these bets on market direction as part of a broad push for exchange-traded funds. They hold appeal in a rally-starved country.
August 18, 2012--Japan has two of the world's most technologically advanced stock exchanges in Tokyo and Osaka.
But it's just starting to dip a toe in the water of exchange-traded funds At the end of July, Japan had only 105 ETFs with $43.65 billion in assets, about 3.5% of the U.S.'s $1.2 trillion in ETF assets. That's a much wider gap than the size of the two stock markets would suggest: Japan's Topix 1000's market cap is 23% of that of the Standard & Poor's 1500's $14.3 trillion.
"Japan's ETF market is only just emerging," says Koji Yamamoto, president of State Street Global Advisors (Japan). "So the potential is huge."
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Source: Barron's
Market to offer exchange-traded funds
August 15, 2012--Exchange-traded funds are urgently needed and are expected to become operational on the Vietnamese stock market next year, the State Securities Commission has announced.
Developing exchange-traded funds (ETFs) was a must, said Ha Noi Stock Exchange deputy director Nguyen Anh Phong. Only stocks, bonds and closed-end fund certificates were currently being traded on the market, Phong said, and the current model of closed-end funds made it difficult for fund management companies to create new products.
“These companies need a more flexible and effective tool,” Phong said at the seminar last Friday. “Fund management companies, brokerages and investors are all eager for ETFs.”
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Source: Business Times
RQFII ETFs no threat, says iShares chief
BlackRock's exchange-traded funds arm is putting a new sales-support function in place, but has no plans to launch an RQFII ETF investing in A-shares.
August 17, 2012--iShares' new Asia-Pacific head is confident its FTSE A50 China Index exchange-traded fund will retain its popularity in the face of newly
launched A-share ETFs under the RQFII scheme.
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Source: Asian Investor
China to launch first gold ETFs soon
August 16, 2012--China will launch the country's first batch of gold exchange-traded funds soon, the state-run Shanghai Securities News reported Friday, cited unnamed sources.
Huaan Fund Management Co. and Guotai Asset Management Co. have completed their plans for ETF products that will trade on the Shanghai Stock Exchange, the sources said in the report.
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Source: MarketWatch