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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.
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Source: Deutsche Bank - Equity Research - Asia Pacific
ASIC working on clearer ETF labels
Corporate regulator in discussions with ASX
June 6, 2012--The corporate regulator is continuing to work on greater clarity for the different types of exchange-traded products to avoid investor confusion.
ASIC is working closely with the Australian Securities Exchange (ASX) and product issuers to develop clearer labels and appropriate naming conventions for exchange-traded funds (ETF) to increase investor protection.
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Source: Investor Daily
Counting echoes of Tiananmen in market fall
June 5, 2012--In a country that ascribes great meaning to numbers, the Chinese stock market's fall on Monday was a potent and, for the government, dangerous symbol.
The Shanghai Composite index tumbled 64.89 points – a freakish coincidence on the anniversary of the June 4 1989 crackdown on democracy protesters, an event that is known in Chinese simply as “six-four”.
The government, which has long tried to silence discussion of the bloody events in Tiananmen Square 23 years ago, acted quickly. Searches for the phrase “Shanghai Composite index” were banned by censors on popular microblogs.
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Source: Democratic Underground, LLC
Yen Weakens After Azumi Says G-7 Supports Japan Currency Stance
June 5, 2012--The yen weakened against the dollar for a second day after Japanese Finance Minister Jun Azumi indicated that Group of Seven nations remain supportive of intervention to address extreme currency moves.
The euro fell, ending two days of gains against the greenback, as Spanish Budget Minister Cristobal Montoro said the nation faces difficulties in accessing capital markets. Brazil's real gained the most in a week as the central bank sold currency swap contracts. Canada's dollar fluctuated after the nation's central bank kept rates unchanged while continuing to signal future increases.
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Source: SF Gate
HKMEx Gold Trading Surpasses 10,000 Contracts
June 4, 2012--The Hong Kong Mercantile Exchange (HKMEx), China's global marketplace, announces today that trading of its US-dollar gold futures surpassed 10,000 contracts for the first time on June 1. A total 10,389 gold contracts were traded on the day.
"The 10,000-contract mark is significant for gold because it indicates the contract has gained increased maturity and market acceptance since our trading launch in May 2011," said HKMEx Chairman Barry Cheung. "We are pleased that volumes have reached this new record. We anticipate this trend will continue as we further enhance distribution and connectivity with our broking and clearing members, laying the foundations for the imminent launch of our renminbi product suite."
HKMEx's gold and silver futures contracts are traded in 32 troy ounces (1 kilo) and 1,000 troy ounces sizes respectively. Both have physical delivery in Hong Kong. Going forward, the Exchange plans to launch gold and copper contracts denominated in renminbi, followed by other products in precious and base metals, as well as energy, agriculture, and commodity indices.
Source: Hong Kong Mercantile Exchange (HKMEx)
IMF Thailand: Staff Report for the 2012 Article IV Consultation
June 1, 2012--KEY ISSUES
Context. Thailand is recovering from historic floods that inundated a large portion of the country, cost lives, destroyed physical capital, and halted production in the last quarter of 2011. Despite uncertainty about the evolution of the global economy, the
Thai economy is expected to rebound sharply.
The key challenge now is to rebuild the
country, while maintaining macroeconomic stability and sowing the seeds for stronger and more wide-spread growth.
Outlook and risks. As reconstruction picks up and investment recovers, staff projects a V-shaped recovery with GDP growing by 5.5 percent in 2012 and 7.5 percent in 2013.
Downside risks to the outlook are significant. The Thai economy remains vulnerable to weak growth in its trading partners. Domestically, political tensions and underperformance of government spending on reconstruction could adversely affect private investment.
The policy mix of monetary easing and fiscal stimulus will provide welcome support to domestic demand in the near term, but a gradual unwinding is called for over the medium term. The effectiveness and cost of fiscal measures should be carefully monitored to ensure that their income redistribution objectives are achieved in an efficient manner. Revenue-enhancing measures might be necessary to achieve these objectives while maintaining fiscal sustainability.
The financial sector remains sound but the governance of Specialized Financial Institutions needs to be improved.
view the Thailand: Staff Report for the 2012 Article IV Consultation
Source: IMF
The Asia Dow Finished May Down 10.32% According To Dow Jones Indexes- The Asia Dow Component Stocks Closed May In Negative Territory
June 1, 2012--The Asia Dow, an equal-weighted, 30-stock index that measures 30 of the leading blue-chip stocks traded in the Asia/Pacific region, dropped 10.32% in May, according to data compiled by Dow Jones Indexes, a leading global index provider.
All 30 component stocks in The Asia Dow closed the month in negative territory.
The index’s best three performers for May were Seven & I Holdings Co. Ltd. (Japan), which closed down 0.87%. Shares of Jardine Matheson Holdings Ltd (Singapore) and CIMB Group Holdings Bhd (Malaysia), down 2.52% and 3.44%, respectively. Sony Corp. (Japan), which fell 18.76%, was The Asia Dow’s worst-performing stock in May.
By comparison, the Dow Jones Industrial Average ended May down 6.21%. The Europe Dow fell 13.08% and The Global Dow finished down 10.17%. The Europe Dow is an equal-weighted index that measures 30 of the continent’s leading blue-chip stocks; The Global Dow measures the performance of 150 leading companies from around the world.
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Source: Mondovisione
India's economic growth dips to 9-year low of 5.3 percent
May 31, 2012--India's economic growth slumped to 5.3 percent in the January-March quarter, the slowest in nine years, dragged by contraction in the manufacturing sector due to high cost of borrowings, official data showed Thursday.
For the whole of 2011-12 financial year, the gross domestic product (GDP) growth slumped to 6.5 percent. This is the slowest pace of expansion in the country's economy since 2002-03, when it had registered a growth of just 4 percent.
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Source: MSN.com
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.”
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Source: World Economic Forum
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