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IMF Staff County Report-Vietnam: 2020 Article IV Consultation
March 1, 2021-Summary:
Successful containment of COVID-19 and strong policy support have helped contain the health and economic fallout, and a strong recovery is underway. Growth in 2020 reached 2.9 percent, among the highest in the world. However, labor market conditions remain weak. Corporate balance sheets have worsened, potentially hampering private investment and job prospects.
Banks entered the crisis in a stronger position than in previous years, but weaknesses remain. Vietnam's economy remains heavily reliant on external trade and is vulnerable to trade tensions.
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Source: IMF
Indxx Global Cloud Computing Index Licensed by BetaShares for an Exchange Traded Fund
February 25, 2021--Indxx is pleased to announce that the Indxx Global Cloud Computing Index has been licensed by leading Australian ETF Manager, BetaShares, as the underlying benchmark for the BetaShares Cloud Computing ETF (CLDD). CLDD has commenced trading on the Australian Securities Exchange (ASX).
This marks the third product globally tracking the Index, cumulatively these funds have over $1.85 billion in assets.
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Source: Indxx
Hong Kong's First Trading Tax Hike Since 1993 Pummels Stocks
February 23, 2021-HKEX shares sink 8.8% at the close, biggest loss since 2015
Mainland-based funds sell record $2.6 billion of city’s shares.
Hong Kong unveiled its first stamp-duty increase on stock trades since 1993, sparking a broad selloff in the $7.6 trillion market and sending shares of the city's exchange to their biggest plunge in more than five years.
The planned trading-tax increase to 0.13% from 0.10% was part of a raft of new measures announced in Hong Kong's budget that included increased spending to help residents weather the pandemic.
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Source: bloomberg.com
Divergent Recoveries in Asia: History is not Destiny
February 23, 2021--Asian economies are performing better than expected. In the IMF's latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent-in regional terms, a better outcome than other parts of the world.
This is largely driven by stronger-than-expected performance among advanced economies in the region, as well as some large emerging market economies such as China, India, Malaysia, and Thailand.
Growth outturns in the fourth quarter and higher-frequency economic indicators for industrial, trade, and retail activity point to a strengthening recovery. Output is projected to grow by 7.3 percent in 2021 and 5.3 percent in 2022 but, even if such a reality materializes, output losses from the pandemic will be significant nonetheless.
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Source: IMF
Greater Innovation Critical to Driving Sustained Economic Recovery in East Asia
February 23, 2021- Innovation is critical to productivity growth and economic progress in developing East Asia in a rapidly changing world, according to a new World Bank report launched today.
Countries in developing East Asia have an impressive record of sustained growth and poverty reduction.
But slowing productivity growth, uncertainties in global trade, and technological advances are increasing the need to transition to new and better modes of production to sustain economic performance.
To support policy makers in meeting this challenge, The Innovation Imperative for Developing East Asia examines the state of innovation in the region, analyzes the key constraints firms face in innovating, and lays out an agenda for action to spur innovation-led growth.
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Source: World Bank
Taiwan's global bond ETF market suffers sharp reversal in 2020
February 23, 2021--Investors withdrew assets and poured them into domestic stock ETFs
February 23, 2021--Taiwan's bond exchange traded fund market ended years of strong growth last year amid disappointing performance and the appreciation of the local currency.
Total assets in Taiwan's locally domiciled foreign bond ETF market fell by NT$81bn ($2.9bn) to NT$1.26tn during 2020, according to data from the Securities Investment Trust & Consulting Association.
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Source: FT.com
Bosera repurposes FTSE China A50 ETF to track SSE STAR 50 Index
February 22, 2021--Bosera Asset Management has repurposed one of its Hong Kong-listed ETFs to provide exposure to companies listed on Shanghai Stock Exchange's innovative STAR Market.
Previously linked to the FTSE China A50 Index, the fund now tracks the SSE Science and Technology Innovation Board 50 Index, an index known informally as the 'SSE STAR 50'.
It is available to trade on the Stock Exchange of Hong Kong in Hong Kong dollars (2832 HK) and Chinese renminbi (82832 HK).
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Source: etfstrategy.com
Japan powers out of coronavirus dip with 3% fourth-quarter development
February 15, 2021--Financial output in Japan grew 3 per cent from the third to the fourth quarter of 2020 because the nation recorded a robust comeback from Covid-19.
The figure for growth in gross home product, printed by the nation's Cupboard Workplace, got here in properly forward of expectations for a 2.3 per cent enlargement.
Stable development within the closing quarter of the yr left output simply 1 per cent beneath the identical interval in 2019, highlighting the pace of the bounce again from final yr's downturn, and suggesting a "V-shaped" restoration could also be doable.
In contrast, Japan took a number of years to regain an identical stage of GDP after the 2008-09 recession, exhibiting how the dynamics of financial restoration differ when there isn't any monetary disaster to beat.
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Source: lupaexpress.com
CSOP to Bring CSOP STAR 50 Index ETF (stock ticker:3109.HK) on the HKEX
February 8, 2021--CSOP Asset Management Limited ("CSOP") is proud to announce the listing of CSOP STAR 50 Index ETF (stock ticker: 3109.HK) on Hong Kong Stock Exchange.
As the first Hong Kong-listed ETF tracking the newly launched SSE Science and Technology Innovation Board 50 Index (the "STAR 50 Index" or the "index") in 2020, CSOP STAR 50 Index ETF will enable global investors to catch the investment opportunities brought by the fast growing high-tech companies and strategic emerging companies that are listed in Shanghai Stock Exchange Star Market (the "Star market").
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Source: us.acrofan.com
South Korea ETF price war intensifies
February 4, 2021--KB Asset Management slashes management fees on some funds to record low of 0.001%
South Korea's KB Asset Management has slashed management fees on a trio of exchange traded funds to just 0.001 per cent, the lowest level in the domestic industry, in a bid to expand the firm's market share against the country's largest ETF issuers' Mirae Asset and Samsung Asset Management.
KB Asset on Monday drastically reduced total annual fees of its KBStar 200 ETF, KBStar 200 Total Return ETF and KBStar US Nasdaq 100 ETF to the near-zero 0.001% management fee per annum, according to a company announcement.
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Source: FT.com