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East Asian Economies Must Cooperate to Boost Resilience to Crises
Greater interconnectivity means heightened risk and increased exposure to the impact of sudden shocks
While East Asian economies are more resilient today than before, they must continue to deepen collaboration to improve their individual and collective capacity to weather crises
Business and government, in particular, must work together to prepare for natural disasters
May 31, 2012--With risks to the global economy multiplying and increasingly interconnected, countries in East Asia must work more closely together to deepen their capacity to withstand crises, particularly unexpected shocks, a panel of business, government and civil society leaders
agreed in a session on the region’s risk resilience at the 21st World Economic Forum on East Asia.
“The lack of resilience is the most important threat to the global economy,” warned Jane Harman, Director, President and Chief Executive Officer, Woodrow Wilson International Center for Scholars, USA. Added Idris Jala, Minister in the Office of the Prime Minister of Malaysia: “If you have a strong and solid economy, that is the foundation for you to have the means to deal with shocks.”
Japan sets record with ETF purchases in May
May 30, 2012--The Bank of Japan said it bought Y39.7 billion in exchange-traded funds Wednesday under its asset-purchase program, bringing the central bank's total ETF buying in May to a new monthly record of Y198.5 billion.
The previous record was Y173.2 billion in August 2011.
The BoJ has made the asset-purchase program the cornerstone of its monetary policy with interest rates already near zero, and has been buying a variety of instruments from JGBs to REITs. At its policy-setting meeting at the end of April, the BOJ decided to expand its purchases of ETFs by Y200 billion.
DB-Equity Research-Asia-Pac-ETF Market Weekly Review: ETP AUM added $1.3bn amid bearish equity markets
May 29, 2012--Market Review
Last week, all the markets in the Asia-Pacific region were in negative territory except for Korea. From north to south, Japan (Nikkei 225) lost 0.36%, Korea (KOSPI2) gained 2.44%, China (CSI 300) slid by 0.03%,
Hong Kong (HSI) decreased by 1.26%, Singapore (FSSTI) was down by 0.23%, and Australia (S&P/ASX 200) declined by 0.43% over the previous week.
New Launch Review
There was no new listing during last week in the Asia-Pacific region.
Turnover Review
Asia-Pacific ETP turnover totaled $4.8bn for last week, 30% down from the previous week’s total. South Korea continued to be on top of the turnover ranking, with $2.2bn, followed by China ($1bn), Hong Kong ($0.8bn), Japan ($0.6bn), and Taiwan ($0.1bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $1.9bn, $1bn, $0.9bn, and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $65m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM increased by $1.3bn and ended at $97.9bn. On a year-to-date basis, Asia-Pacific ETP market is up by $6.4bn or 7% above last year’s closing.
TSE has published the index value of TSE Home Price Index for March
May 29, 2012--TSE has published the index value of TSE Home Price Index for March on May 29, 2012.
The index value of TSE Home Price Index (Used Condominium, Composite of Tokyo Metro Area) is 78.82 points.
The index value of TSE Home Price Index (Used Condominium, Tokyo) is 82.47
points. The index value of TSE Home Price Index (Used Condominium, Kanagawa) is 78.88 points.
The index value of TSE Home Price Index (Used Condominium, Chiba) is 69.38. The index value of
TSE Home Price Index (Used Condominium, Saitama) is 67.49 points.
CME Group Hires Dr. Izumi Kazuhara as Executive Director, Head of Japan
OSE Launches Dow Jones Industrial Average futures; CME Group to launch E-mini Nikkei 225 futures
May 28, 2012--CME Group, the world's leading and most
diverse derivatives marketplace, today announced that Dr. Izumi Kazuhara will
join the company as Executive Director, Head of Japan in June.
Based in Tokyo, Dr. Kazuhara will be responsible for developing growth opportunities and customer relationships for CME Group throughout Japan.
Julien Le Noble, CME Group Managing Director, Head of Asia Pacific, said: "Dr. Kazuhara's joins our team in Asia, bringing with him unparalleled experience and insight to our growing presence in the Japanese market. We will continue to work with Japan's financial community to leverage our global risk management benchmark products and help our clients achieve their risk management goals in the country, as well as develop new benchmark products and services needed in the region."
MAS Reviews Regulatory Requirements for Unlisted Margined Derivatives Offered to Retail Investors
May 28, 2012--The Monetary Authority of Singapore (MAS) has issued a consultation paper on proposed enhancements to the regulatory requirements for unlisted margined derivatives.
2. The proposals aim to address the specific risks posed by unlisted margined derivatives such as contracts for differences (CFDs) and leveraged foreign exchange products (LFX), which are currently available to retail investors. Retail investors who trade in CFDs and LFX are exposed to considerable risks, given the leveraging effect of margin trading on potential losses. The unlisted nature of such products further subjects investors to counterparty risks since they do not trade through an exchange which has a central clearing house to guarantee the settlement obligations to investors. Instead, investors are exposed to the creditworthiness and operational risks of the derivative product dealer. In the event of a default, they may not have recourse to transfer their positions or recover their moneys in their trading accounts.
3.The proposed regulatory enhancements seek to afford better protection to retail investors who participate in the CFDs and LFX markets by addressing specific risks. The proposed measures aim to:
i) Enhance credit risk management by derivative product dealers and mitigate the risk of over-leveraging by retail investors;
FTSE Value-Stocks Index Series Extended With New Custom Solutions, to Support Value-Based ETFs Listed by Sensible Asset Management Hong Kong
May 28, 2012--FTSE Group ("FTSE"), the global index provider, announces the licensing of Value Partners Group ("Value Partners"), for its wholly-owned subsidiary, Sensible Asset Management Hong Kong Limited ("SAMHK"), to create a series of country specific Exchange Traded Funds (ETFs).
May 28, 2012--FTSE Group ("FTSE"), the global index provider, announces the licensing of Value Partners Group ("Value Partners"), for its wholly-owned subsidiary, Sensible Asset Management Hong Kong Limited ("SAMHK"), to create a series of country specific Exchange Traded Funds (ETFs). The ETFs will be based on new customised versions of the existing FTSE Value-Stocks Japan, FTSE Value-Stocks Korea and FTSE Value-Stocks Taiwan indices. The licensing forms part of an extended cooperation agreement with Value Partners, and will see the new ETFs listed today on Hong Kong Exchanges and Clearing Limited (“HKEx”).
HKEx Receives Regulatory Approval for Launch of First Exchange-Traded RMB Currency Futures Settled in RMB
May 28, 2012--Hong Kong Exchanges and Clearing Limited (HKEx) has received approval from the Securities and Futures Commission to offer Renminbi (RMB) currency futures and plans to introduce them in the third quarter of this year, subject to market readiness. They will be the first exchange-traded currency futures settled in RMB.
HKEx's RMB currency futures will require delivery of US dollars (USD) by the seller and payment of the Final Settlement Value in RMB by the buyer at maturity. Contracts will be quoted in RMB per USD (for example, RMB 6.2500 per USD) and margined in RMB, with the trading and settlement fees charged in RMB. The final settlement price of the contracts will be based on the spot USD/CNY(HK) fixing published by the Treasury Market Association (TMA) at 11:15 am on the Last Trading Day* (the fixing is available on TMA’s website). The contract specifications are attached below.
2012 List of Shariah-compliant Securities by SC's Shariah Advisory Council
May 25, 2012--Securities Commission Malaysia has published the 2012 List of Shariah-compliant Securities by SC's Shariah Advisory Council.
view 2012 List of Shariah-compliant Securities by SC's Shariah Advisory Council
China's manufacturing sector weakens
May 25, 2012--A widely-watched measure of Chinese manufacturing Thursday showed activity weakened further in May.
HSBC Corp. said its preliminary Purchasing Managers Index, based on responses by 85 to 90 per cent of Chinese manufacturing companies in its sample, fell to 48.7 from April's 49.3 on a 100-point scale.
Numbers below 50 indicate a contraction.
The weak showing came a day after China's cabinet promised to step up efforts to reverse a steep slowdown in the world's second-largest economy and said it would encourage private investment in energy and other state-dominated industries.
