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Asian institutions channeling mandate assets to ETFs
July 16, 2012--Asian sovereign wealth and pension funds are increasingly bringing assets back in-house from external managers and turning to exchange traded funds for better transparency, according to risk-modelling firm Axioma.
“Institutional investors want the value from their investment managers to come from their investment process. They want a disciplined investment process that is transparent and perceived to be repeatable,” says Olivier d’Assier, Singapore-based managing director for Asia Pacific at Axioma.
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Source: FT.com
DB-Equity Research-Asia-Pac-ETF Market Weekly Review: ETP AUM lost $2.9bn amid bearish equity markets
July 16, 2012--Market Review
Last week, all the markets in the Asia-Pacific region were in negative territory except Singapore. From north to south, Japan (Nikkei 225) lost 3.29%, Korea (KOSPI2) was down by 2.57%, China (CSI 300) decreased by 0.89%, Hong Kong (HSI) slipped by 3.58%, Singapore (FSSTI) rose by 0.57%, and Australia (S&P/ASX 200) fell by 1.82% over the previous week.
New Launch Review
Last week, Great Wall Securities made its debut with an equity ETF listing on Shanghai Stock Exchange tracking the SSE180 Index. (See Figure 4 for further details)
Turnover Review
Asia-Pacific ETP turnover totaled $5.9bn for last week, 30.7% up from the previous week’s total. South Korea continued to be on top of the turnover ranking with $2.7bn, followed by China ($1.5bn), Hong Kong ($0.9bn), Japan ($0.5bn), and Australia ($0.1bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Short Strategy, and Asia Pac Developed Country ETFs had total turnover of $2.7bn, $1.3bn, $0.8bn, and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $69m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM decreased by $2.9bn and ended at $111.3bn. On a year-to-date basis, Asia-Pacific ETP market is up by $19.8bn or 21.7% above last year’s closing.
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Source: Deutsche Bank - Equity Research - Asia Pacific
First Physical China A-Share ETF to Start Trading in Hong Kong
July 16, 2012--The first foreign exchange-traded fund backed by stocks listed only in mainland China is scheduled to begin trading today in Hong Kong.
China Asset Management Ltd. received approval from the Hong Kong Securities and Futures Commission to list the ETF, it announced in a statement July 9. The security tracks the China AMC CSI 300 Index via so-called A-shares purchased with yuan raised outside China. The shares are acquired through the Renminbi Qualified Foreign Institutional Investor quota granted by mainland authorities.
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Source: Bloomberg BusinessWeek
ETFs unlikely to soar in Asia
July 15, 2012--The exchange traded fund market in Asia will not follow the same evolutionary path as the US and European markets, according to Mark McCombe, chairman of BlackRock's Asia Pacific business.
The developed ETF markets “provide pretty much everything people need”, he said in an interview with FTfm.
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Source: FT.com
Singapore's economy shrinks 1.1 percent in 2Q
July 13, 2012--July 13, 2012--Singapore's economy shrank in the second quarter as a global slowdown undermined demand for the city-state's exports, the Trade and Industry Ministry said Friday.
Gross domestic product contracted at a seasonally adjusted, annualized rate of 1.1 percent in the April to June period from the previous quarter, when it expanded 9.4 percent, the ministry said.
Manufacturing, led by electronics and pharmaceuticals, dropped 6 percent in the second quarter, reversing from 21 percent growth in the first quarter, while services grew just 0.4 percent and construction 0.3 percent, it said. "The manufacturing sector, the key driver in the first quarter, is now the main drag," said Irvin Seah, an economist with DBS Bank in Singapore. "Weak external demand on account of the economic turmoil in the eurozone and the fading growth momentum in the U.S. continues to weigh on the growth pace in this sector."
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Source: Today's Zaman
SGX Extends India Access With 16 July Nifty Options Launch
July 13, 2012--Singapore Exchange (SGX) is offering SGX S&P CNX Nifty Options from 16 July 2012.
This latest product partnership between SGX and National Stock Exchange of India (NSE) enhances offshore investors' access to the Indian economy. The Nifty Options add to SGX's suite of Asian equity derivatives, which include SGX S&P CNX Nifty futures, the dominant Indian product for international participants. SGX, the world's biggest offshore market for Asian equity derivatives, accounts for approximately 25% of Nifty futures trading globally.
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Source: ITNews
China's economic growth slows to 7.6%
The second quarter's 7.6% pace-China's weakest economic expansion in three years-meets analysts' estimates.
July 13, 2012--China said its economy grew 7.6% in the second quarter compared with a year earlier. It was the weakest pace of expansion in three years but in line with analysts' expectations.
Declining investment in real estate and infrastructure as well as shrinking exports to Europe and the U.S. have contributed to the slowdown in the world's second-largest economy.
"It's not easy for China to achieve a 7.6% growth rate," Sheng Laiyun, a spokesman for China's National Bureau of Statistics, said at a news conference in Beijing on Friday. "It's already quite an achievement amid the global economic situation."
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Source: Los Angeles Times
South Korea central bank cuts rates in shock move, more to come
July 11, 2012--The Bank of Korea finally joined the near-universal rush to ease monetary policy on Thursday, cutting its benchmark rate for the first time in more than three years to fend off the effects of a global slowdown.
The 25 basis point cut to 3.00 percent surprised to most economists: Only three of 26 polled by Reuters had expected rates to be reduced at Thursday's meeting, the first cut since February 2009, but many now expect at least one more cut this year.
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Source: SEC.gov
MCX, Financial Tech gain on Sebi nod for new asset classes
July 11, 2012--The Multi Commodity Exchange of India and Financial Technologies Ltd, the promoters of MCX Stock Exchange (MCX-SX),rallied more than 5 per cent each in early trade today after MCX-SX got the nod from the market regulator to start operations as a full-fledged stock exchange.
MCX Stock Exchange - promoted by FT and commodity exchange MCX - said in a press release on Tuesday night that it had received approval from the Securities & Exchange Board of India to begin operations in new asset classes. At present, MCX-SX offers trading in currency futures.
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Source: The Economic Times
TSE-ETF/ETN Monthly Report for Jun 2012
The trading value of the Bull/ Bear ETFs increased
July 10, 2012--In June, even as the overall trading value of the ETF/ETN market decreased from the previous month, that of two ETFs, "Bull 2x ETF" (1568) and "TOPIX Bear -1x ETF" (1569) rose by 52.86% and 7.76% respectively.
Among issues which showed an increase in trading value, "NEXT FUNDS NOMURA Crude Oil Long Index Linked Exchange Traded Fund" (1699) grew by 205.64% versus the previous month as the product drew attention when WTI crude oil futures momentarily dipped below US$80 per barrel in late June.
Same as last month, ETF Securities' Natural Gas ETF (1689) ranks top in terms of 30 days' volatility
view the TSE ETF/ETN Monthly Report for June 2012
Source: Tokyo Stock Excchange (TSE)
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