IMF Country Report-Japan: Selected Issues
August 1, 2012--EXECUTIVE SUMMARY
With reconstruction following the Great East Japan earthquake underway, Japan has laid out a plan for fiscal consolidation over the medium-term to bring down public debt. To solidify these welcome reforms, additional longer-term measures are needed and should focus on reigning in social spending and raising growth, which are the topics of the background papers for the 2012 Article IV consultation.
Chapter I presents an analysis of the effects of possible future pension reforms on fiscal consolidation and growth. Among various available options, increasing the pension
eligibility age appears most attractive as it would help reduce the fiscal burden and stimulate economic activity by raising old-age labor force participation. Other options include
“clawing back” a small portion of pension benefits from wealthy retirees, reducing the preferential tax treatment of pension benefit incomes, and collecting contributions from
dependent spouses of employees. These options could reduce the public contribution to the
public pension system by up to 1¼ percent of GDP by 2020.
view the IMF Country Report-Japan: Selected Issues
Source: IMF
Global slowdown bites across Asia
August 1, 2012--Manufacturing is slumping across the globe as confidence in the recovery ebbs and Europe's troubles ripple through other economies.
Fresh data released Wednesday show manufacturing activity stalling in the United States, declining in Europe, and close to contracting in emerging economies such as China.
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Source: Globe and Mail
TSE has published the index value of TSE Home Price Index for May
July 31, 2012--TSE has published the index value of TSE Home Price Index for May on July 31, 2012.
The index value of TSE Home Price Index (Used Condominium, Composite of Tokyo Metro Area) is 78.01 points. The index value of TSE Home Price Index (Used Condominium, Tokyo) is 81.90
points.
The index value of TSE Home Price Index (Used Condominium, Kanagawa) is 78.39 points.
The index value of TSE Home Price Index (Used Condominium, Chiba) is 66.04. The index value of TSE Home Price Index (Used Condominium, Saitama) is 66.99 points.
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Source: Tokyo Stock Exchange (TSE)
ASIC-12-180MR New financial requirements for issuers of over-the-counter derivatives
July 31, 2012--ASIC today released new financial requirements for Australian financial services licensees who issue over-the-counter (OTC) derivatives to retail clients, including contracts for difference and margin foreign exchange.
The changes aim to ensure these AFS licensees have adequate financial resources to operate their business in compliance with the Corporations Act and to carry out supervisory arrangements.
ASIC Commissioner, Greg Tanzer said the new requirements had been developed to help ensure licensees have the financial resources to more adequately manage their operational risks in this growing area and followed a lengthy consultation process with industry.
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Source: ASIC
TSE Market Impact View Report, "Perspectives on Market Liquidity Using TSE Market Impact View" Now Available
July 31, 2012--Hiwon Yoon, President and CEO of CMD Lab, Inc. and Engineering PhD who assisted in the development TSE Market Impact View (TMIV) introduced by the TSE in December last year
has created a report on the service entitled "Perspectives on Market Liquidity Using TSE Market Impact View".
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Source: Tokyo Stock Exchange (TSE)
DB-Equity Research-Asia-Pac- ETP AUM remains flat amid mixed equity markets
July 30, 2012--Market Review
Last week, The Asia-Pacific region had mixed markets. From north to south, Japan (Nikkei 225) lost 1.19%, Korea (KOSPI2) was up by 0.78%, China (CSI 300) decreased by 2.06%, Hong Kong (HSI) was down by 1.86%, Singapore (FSSTI) declined by 0.57%, and Australia (S&P/ASX 200) advanced by 0.25% over the previous week.
New Launch Review
There was no new listing during last week.
Turnover Review
Asia-Pacific ETP turnover totaled $6.6bn for last week, 17.5% above from the previous week’s total. South Korea continued to be on top of the turnover ranking with $3.3bn, followed by China ($1.3bn), Hong Kong ($0.7bn), Japan ($0.7bn), and Australia ($0.2bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Short Strategy, and Asia Pac Developed Country ETFs had total turnover of $2.5bn, $1.7bn, $1bn, and $0.9bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $96m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM decreased by $0.3bn and ended at $111.8bn. On a year-to-date basis, Asia-Pacific ETP market is up by $20.3bn or 22.2% above last year’s closing.
to request report
Source: Deutsche Bank - Equity Research - Asia Pacific
ETFS Precious Metals Weekly:Gold and Silver Prices Surge After Draghi Pledges Action
July 30, 2012--Gold and silver prices surge and Spain's bond yields drop sharply as
Draghi pledges aggressive action to stabilize debt markets. Gold and
silver led commodity prices higher last week after ECB President, Draghi,
committed to do "everything it takes" to keep the Eurozone intact.
Spanish 10-year bond yields ended the week below the 7% level that prompted
other peripheral countries to seek bailouts. While Spain and its banks will
receive bailout funds, the exact mechanism remains unclear. Draghi is now
trying to seek government and national central bank approval for a plan to
ease borrowing costs in Italy and Spain before the next ECB meeting on
Thursday. More liquidity injections into the Eurozone banking system
appear the most likely option at this stage, with the ECB still resisting the
direct support of government finances.
Gold speculative positions drop back to near 4-year lows, gold-silver ratio near two year low. ECB president Draghi’s comments fuelled a gold rally, pushing the gold price above US$1,600/oz by the end the week, while silver gained 2%. Net speculative gold futures positioning reported by the CFTC show that net bullish positions dropped to near a four-year low in the week ending 20 July.
visit www.etfsecurities.com for more info
Source: ETF Securities
China relaxes QFII rules to attract overseas investment
July 28, 2012-- China has eased its grip on its control on investments made by qualified foreign institutional investors (QFIIs), according to a revised QFII regulation released by the nation's securities regulator.
Compared with previous rules, the regulation published by the China Securities Regulatory Commission (CSRC) on Friday lowers the QFII threshold and allows QFIIs to invest in the nation's capital market through more than one securities dealer.
The regulation also allows QFIIs to invest in the interbank bond market and private placement bonds issued by small and medium-sized enterprises and hold up to a 30-percent stake in a listed company, up from the previous 20-percent stake cap.
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Source: Xinhuanet.com
New ETFs Included in Real-Time Dissemination of "TSE Indicative NAV"
July 27, 2012--Tokyo Stock Exchange, Inc. (TSE) will newly calculate and publish the real-time Indicative Net Asset Value (Indicative NAV) per share for the below Exchange Traded Funds (ETFs) beginning August 27, 2012.
Addition
Code: 1574
ETF: MAXIS TOPIX Risk Control (10%) ETF
Fund Administrator: Mitsubishi UFJ Asset Management
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Source: Tokyo Stock Exchange (TSE)
Korea Exchange supports ETF market expansion
July 27, 2012--The Korea Exchange (KRX) said Friday that the nation's exchange traded fund (ETF) market has been growing fast thanks to its efforts to improve the bourse's infrastructure and trading system.
According to the state-run stock market operator, Korea, together with Japan, ranked top in terms of the number of ETFs in December. Their number in the local market reached 106 in December, up 44 from a year ago.
In terms of ETF assets under management, the KRX ranked fourth with $8.5 billion in 2011, up 64 percent from a year earlier. It has risen 30 places in a decade since its launch in 2002. ETFs are investment funds traded on stock exchanges, much like shares.
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Source: The Korea Times
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