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IMF Working paper-What's in It for Me? A Primer on Differences between Islamic and Conventional Finance in Malaysia
June 8, 2012--Summary: What attracts conventional investors to Islamic financial instruments? We answer this question by comparing Malaysian Islamic and conventional security prices and their response to macrofinancial factors.
Our analysis suggests that Islamic and conventional bond and equity prices are driven by common factors. Likewise, especially in recent years, Islamic banks have responded to economic and financial shocks in the same way as conventional banks, suggesting that the gap between Islamic and conventional financial practices is shrinking.
SSE 180 Sector Indices To Be Launched
June 8, 2012--To further enhance the SSE index family as well as to provide new analysis tools and underlying instruments for investors, SSE and CSI together announced that the SSE 180 Sector Indices would be launched on June 29, 2012
. Regarding the methodology and more details of the above indices, please refer to the official website of SSE ( www.sse.com.cn ) and the official website of CSI (www.csindex.com.cn) respectively.
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Source: Shanghai Stock Exchange
Japan Economy Grows More Than Initial Estimate
June 8, 2012--Japan's economy expanded more than the government initially estimated in the first quarter, adding to evidence that the world's third-largest economy will sustain its recovery this year.
Gross domestic product grew an annualized 4.7 percent in the three months ended March 31, the Cabinet Office said in Tokyo today, compared with a preliminary estimate for a 4.1 percent expansion. The median forecast of 18 economists surveyed by Bloomberg News was for 4.5 percent growth.
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Source: Bloomberg
Slowing China cuts key lending rate to boost growth
June 8, 2012--China has cut its key lending rate for the first time in four years and taken a small step toward letting market forces set bank deposit rates, as it tries to reverse an economic slump and put more money in consumers' pockets.
The rate cut Thursday came as Chinese leaders are reversing course and loosening lending and investment curbs they steadily tightened over the past two years to cool an overheated economy. The central bank also said China's commercial banks would be allowed to pay higher deposit rates than those dictated by the government, though it said rates will be capped for now at 1.1 times the official level. That could help to shift money to households from China's hugely profitable government-owned banks. The change is the latest step in reforms aimed at making China's financial system more efficient by easing controls that forced depositors to subsidize lending to government companies by holding down rates paid on savings.
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Source: Todays Zaman
China launches first dedicated fund association
June 7, 2012--The official line is that the CFA is an independent body that is supported by the CSRC.
Further, the CFA will boast nine part-time vice-chairmen. Their number includes Fan Yonghong, who recently quit as general manager of the country’s largest asset...
a, href="http://www.asianinvestor.net/News/303917,china-launches-first-dedicated-fund-association.aspx" TARGET="_top">read more
Source: Asian Investor
Hong Kong boutique launches China Alt Ucits fund
June 7, 2012--June Hong Kong-based boutique Value Partners has launched a Ucits-compliant absolute return version of its flagship Greater China hedge fund.
The Value Partners Absolute Greater China Classic fund will be managed by the firm's co-CIOs Cheah Cheng-Hye and Louis So.
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Source: City Wire
SGX launches dual currency trading for ETFs
June 7, 2012--Investors will be able to trade foreign-currency denominated exchange-traded funds (ETFs) in Singapore dollars from June 15.
In a statement, the Singapore Exchange (SGX) said it will be launching dual currency trading for ETFs to provide investors with trading flexibility.
SGX is working with issuers BlackRock's iShares and CIMB-Principal Asset Management to offer seven ETFs with a secondary trading counter in Singapore dollars.
The exchange said the ETFs will be fungible.
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Source: Chanel News Asia
Tokyo Stock Exchange-ETF/ETN Monthly Report for May 2012
June 7, 2012--The overall trading value slightly decreased, but precious metal related ETFs' trading value surged
As for this month's ETF/ETN market, although the overall monthly trading value of ETF/ETN market slightly decreased by 0.98% from the month before, that of precious metal related ETFs increased by 21.8%.
Especially, there was a notable increase in 5 ETFS Metal Securities Series;ETFS Physical Gold, ETFS Physical Silver, ETFS Physical Platinum, ETFS Physical Palladium, and ETFS Physical PM Basket.
The trading value of the TOPIX IT ＆ SERVICES,ORHERS ETF (1626) of the NEXT FUNDS 17 SECTOR ETF family advanced 501.50% versus the previous month. Now, 5 ETFs out of the NEXT FUNDS series are among the Top 10 in terms of tradfing value increase.
Same as last month, ETF Securities' Natural Gas ETF (1689) ranks top in terms of 30 days' volatility
view the ETF/ETN Monthly Report for May 2012
Source: Tokyo Stock Exchange
Ten new ETPs get ASX listing
June 7, 2012--ETF Securities has released 10 new exchange traded products that aim to provide direct exposure so the commodities boom.
The ten new exchange traded commodities products have been listed on the Australian Securities Exchange (ASX), bringing the total number listed to 15.
"Historically, gaining exposure to this asset class was typically achieved by investing in the shares of mining and resource companies or, for investors with adequate expertise, commodity futures markets," said Fred Jheon, managing director, Asia Pacific, ETF Securities.
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Source: Financial Standard
DB-Equity Research-Asia-Pac-ETF Market Weekly Review: New Chinese ETFs fueled a $13bn inflow in May
June 6, 2012--Market Review
The Asia-Pacific region had mixed markets last week. In all, Japan (Nikkei 225) lost 1.63%, Korea (KOSPI2) up by 0.57%, China (CSI 300) advanced by 2.33%, Hong Kong (HSI) sank by 0.83%, Singapore (FSSTI) lost by 0.98%, and Australia (S&P/ASX 200) gained 0.86% over the previous week.
New ETP launches
Last week, five new ETFs were launched in the Asia-Pacific region. Sensible Asset Management listed three equity ETFs on the Hong Kong Stock Exchange tracking FTSE Value Stocks Taiwan Index, FTSE Value Stocks Japan Index and the FTSE Value Stocks Korea Index. Huatai-PineBridge Fund Management listed one equity ETF on the Shanghai Stock Exchange tracking the CSI 300 Index. Harvest Fund Management listed one equity ETF on Shenzhen Stock Exchange tracking the CSI 300 Index. (See Figure 5 for details)
ETP Monthly Flows
Asia-Pacific ETP market recorded monthly cash inflows of $13.3bn for the month of May bringing YTD cash flows back to positive territory (+$14bn). This includes $8bn inflows of 2 newly listed ETFs from Huatai-PineBridge Fund Management (+$5.7bn) and Harvest Fund Management (+$2.7bn). Prior to that, Asia-Pacific region recorded monthly flows of -$1.1bn, -$664m and $1.1bn for February, March and April respectively. Equities had the lion’s share in the monthly cash flows contributing $13bn, with fixed income and commodities contributing a modest $247m and -$18m respectively.
Within Equity products, Emerging Country ETFs emerged as the single largest recipient of monthly cash flows totaling $8.2bn. ETFs offering exposure to country indices attracted robust inflows, with China, Japan and Taiwan receiving $7.8bn, $4bn and $377m respectively.
Turnover Review
Asia-Pacific ETP turnover totaled $6.3bn for last week, 30.8% up from the previous week’s total. China comes to be on top of the turnover ranking with $2.7bn, followed by South Korea ($1.9bn), Hong Kong ($.8bn), Japan ($0.6bn), and Australia ($0.2bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs recorded total turnover of $3.5bn, $0.9bn, $0.9bn and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $81m.
Asset Under Management Review
Last week, Asia-Pacific ETP AUM ended at $106.7bn. On a year to date basis, Asia-Pacific ETP market is up by $15.2bn or 16.6% above last year’s closing.
to request report
Source: Deutsche Bank - Equity Research - Asia Pacific
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