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HKEx Publishes Guide on Enhancing Regulation of the Listed Structured Products Market
July 27, 2012--Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Friday) the publication of its Guide on Enhancing Regulation of the Listed Structured Products Market.
The Guide serves to foster high standards across structured products issuers, enhance service levels of liquidity providers and promote the healthy long-term development of Hong Kong’s listed structured products market.
The Guide
The Guide covers a number of regulatory enhancement measures in three main areas: (a) enhancement of issuers’ internal controls and standardisation of listing documents, (b) improvement of liquidity provision standards and (c) management of issuers' credit risks. The proposed measures are in line with on-going efforts to strengthen protection for investors and support market development.
Industry Principles on Liquidity Provision for Listed Structured Products
The Guide includes the Industry Principles on Liquidity Provision for Listed Structured Products which were developed jointly by a working group of listed structured products issuers, the Securities and Futures Commission and HKEx after extensive discussions.
view the HKEx Guide on Enhancing Regulation of the Listed Structured Products MarketGuide
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
IDBI Mutual launches gold fund for retail investors with no demat accounts
July 26, 2012--IDBI Mutual Fund has launched a gold fund of fund scheme, which targets retail investors who do not have demat accounts and wish to invest in gold without taking the hassles of opening a demat account.
The issue closes on August 8. The investment objective is to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund (IDBI Gold ETF) that was launched in October 2011.
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Source: Economic Times
South Korea growth slowest since 2009
July 26, 2012--South Korea's economic growth rate fell in the second quarter to its lowest level in nearly three years as export markets struggled and consumer sentiment flagged.
The Bank of Korea on Thursday said annualised growth slowed to 2.4 per cent in the three months through June, the weakest rate since the third quarter of 2009. On Wednesday, the government said the country's main index of consumer confidence had fallen to its lowest level in five months.
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Source: CNN
DB-Equity Research-Asia-Pac-ETF Market Weekly Review: ETP AUM rose marginally amid mixed equity markets
July 24, 2012--Market Review
Last week, The Asia-Pacific region had mixed markets. From north to south, Japan (Nikkei 225) lost 0.62%, Korea (KOSPI2) was up by 0.66%, China (CSI 300)decreased by 2.13%, Hong Kong (HSI) grew by 2.87%, Singapore (FSSTI) rose by 0.67%, and Australia (S&P/ASX 200) advanced by 2.86% over the previous week.
New Launch Review
Last week, two new products were launched in the Asia-Pacific ETP market. China Asset Management listed one equity ETF on the Hong Kong Exchange trackingCSI 300 Index. Fubon Securities Investment Trust Co listed one equity ETF on the Taiwan Stock Exchange tracking Taiwan 50 Index. (See Figure 4 for further details)
Turnover Review
Asia-Pacific ETP turnover totaled $5.6bn for last week, 5.2% down from the previous week’s total. South Korea continued to be on top of the turnover rankingwith $2.7bn, followed by China ($1.5bn), Hong Kong ($0.8bn), Japan ($0.3bn), and Australia ($0.1bn). Among Equity ETFs, Emerging Country, Leveraged Strategy,Short Strategy, and Asia Pac Developed Country ETFs had total turnover of $2.6bn, $1.4bn, $0.9bn, and $0.5bn respectively. Under the Commodity assetclass, turnover in Gold ETPs totaled $40m for the last week.
Assets Under Management Review Last week, Asia-Pacific ETP AUM increased by $0.8bn and ended at $112.2bn. On a year-to-date basis, Asia-Pacific ETP market is up by $20.7bn or 22.6% above lastyear’s closing.
to request report
Source: Deutsche Bank - Equity Research - Asia Pacific
IMF report-People's Republic of China: Staff Report for the 2012 Article IV Consultation
June 24, 2012--KEY ISSUES
The economy seems to be undergoing a soft landing, though global headwinds
are increasing. Growth is expected to moderate to around 8 percent this year and inflation to drop to 3½ percent. Meanwhile, a political transition is underway.
Focus. Near-term macroeconomic management challenges were a key focus of the consultation. The economy has been slowing partly as a result of policy action to moderate
growth to a more sustainable pace, but a worsening of the euro area crisis poses a key risk to the outlook. The mission also discussed domestic risks related to the property sector,
financial system, and local government finances. Another theme related to the mediumterm priority of internally rebalancing the economy toward consumption. Finally, the
mission also exchanged views on inward and outward spillovers, with particular attention to how China’s investment impacts the rest of the world.
Macroeconomic policy advice. Policies should continue to be geared toward achieving this year’s growth targets. In the event of a worsening of the external outlook, China has ample room to respond forcefully, using fiscal policy as the main line of defense and with emphasis on measures that support China’s medium-term reform objectives.
view the IMF-People's Republic of China: Staff Report for the 2012 Article IV Consultation
Source: IMF
The Tokyo Commodities Exchange Extends Technology Contract With NASDAQ OMX to 2019
July 23, 2012--The NASDAQ OMX Group, Inc (Nasdaq:NDAQ) announces that the Tokyo Commodities Exchange (TOCOM) and system integrator NTT Data have extended their contract with NASDAQ OMX to 2019.
Under the contract NASDAQ OMX will continue to operate and support TOCOM's integrated trading and clearing platform for commodity derivatives. In addition TOCOM has upgraded its trading platform for improved latency performance. TOCOM rolled out its NASDAQ OMX powered platform in 2009.
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Source: NASDAQ OMX
SSgA appoints Amanda Skelly head of Australian SPDR(R) ETF business
New hires reaffirm State Street's commitment to expanding local ETF operations
July 26, 2012--State Street Global Advisors (SSgA), the investment management business of State Street Corporation, is strengthening its Australian Exchange Traded Fund (ETF) operation with the appointment of Amanda Skelly to head our SPDR(R) ETFs in Australia, a newly created position.
In this role Ms Skelly will lead SSgA’s SPDR ETF operations in Australia and will be responsible for driving the business strategy and product development, educating investors about the uses of ETFs and promoting the products to institutional and retail investors. Ms Skelly starts today (23 July) and reports to Frank Henze, SSgA’s head of SPDR ETFs for Asia Pacific.
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Source: State Street Global Advisors
New ETF to be Listed on Aug. 9, 2012 (Thu.)-Mitsubishi UFJ AM "MAXIS TOPIX Risk Control (10%) ETF"
July 23, 2012--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF created by Mitsubishi UFJ Asset Management Co., Ltd. (Mitsubishi UFJ AM). The ETF will be listed on Thursday, August 9, 2012.
Code:1574 (ISIN JP3047500008)
Name:MAXIS TOPIX Risk Control (10%) ETF
Fund Administrator:Mitsubishi UFJ Asset Management
Listing Date: Aug 9, 2012
Trading Unit: 10 unit
Underlying Index: TOPIX Risk Control Index (Volatility 10%)
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Source: Tokyo Stock Exchange
SFC-SFC offers practical guidance on how to ascertain key risks before investing
July 20, 2012--In the latest issue of InvestEd Intelligence, the Securities and Futures Commission (SFC) reminds investors to find out about the various risks and factors that may affect their return of investment before making a commitment.
In this issue’s “Sounding Board” column, the SFC’s Senior Director, Head of Risk and Strategy, Ms Bénédicte Nolens, reminds investors to ask themselves and their advisors certain questions before buying a financial product. She also notes that the global outlook and events in any part of the world can have an impact on one’s investments.
This issue also introduces a new class of products-the Renminbi Qualified Foreign Institutional Investor (RQFII) A-share exchange-traded fund (ETF). The "Choosing Wisely" column outlines its key features and risks and explains how it differs from A-share ETFs in currency denomination, structure and trading arrangement.
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Source: Securities and Futures Commission (SFC)
Hong Kong's A-Share ETF Raises Six Times Synthetic Rival
July 19, 2012--Demand for the first Hong Kong exchange-traded fund backed by stocks listed in mainland China pushed the security's market value to six times that of a similar ETF that uses derivatives.
The China AMC CSI 300 Index ETF (83188) has 3.8 billion yuan ($596 million) in assets after listing on July 17, compared with HK$838 million for the iShares CSI 300 A-Share Index fund, which started in November 2009. The physical ETF’s market value is capped by mainland regulators at 5 billion yuan.
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Source: Bloomberg
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