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First RMB ETF to Debut at HKEx
February 13, 2012--Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the pending listing of the first Exchange Traded Fund (ETF) to be traded in RMB on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, tomorrow (Tuesday) when Hang Seng Investment Management Limited (HSIM) lists its Hang Seng RMB Gold ETF.
The first RMB product type to list on the Exchange was debt securities in October 2010, followed by a Real Estate Investment Trust (REIT) listing in April 2011. To date, 14 RMB debt securities and one RMB REIT have been listed on the Exchange.
The Hang Seng RMB Gold ETF will be the third gold ETF listed on the Exchange and will increase its total number of listed ETFs to 91.
Hong Kong's ETF market had the second highest turnover value in Asia-Pacific in 2011 based on statistics published by the World Federation of Exchanges, with average daily turnover of over $2.2 billion.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
DB - Equity Research - Asia Pacific ETF Weekly Review:ETP AUM keeps hovering around $100bn
February 13, 2012--Market Review
Asian equity markets came back to positive territory last week. From north to south, Japan (Nikkei 225) gained 1.30%, Korea (KOSPI2) increased by 1.02%, China (CSI 300) grew 1.10%, Hong Kong (HSI) advanced by 0.13%, and Singapore (FSSTI) rose by 1.44%, while Australia (S&P/ASX 200) lost 0.14% over the previous week.
New Launch Review
There was no new listing during last week in the Asia-Pacific region.
Turnover Review
Asia-Pacific ETP turnover totaled $6.7bn for last week, 9% up from the previous week’s total. South Korea continues to be on top of the turnover ranking with $2.2bn, followed by Hong Kong ($1.8bn), China ($1.7bn), Japan ($0.5bn), and Taiwan ($0.3bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $3.6bn, $1.1bn, $0.8bn and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $120m.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM remained close to the $100bn mark and ended at $99.96bn. On a year-to-date basis, Asia-Pacific ETP market is up by $8.5bn or 9.3% above last year’s closing.
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Source: Deutsche Bank - Equity Research - Asia Pacific
JapaneseGDP shrinks 2.3 pct in last quarter of 2011
February 13, 2012--Japan's economy shrank 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand.
A drop in public investment during the quarter, due largely to political bickering delaying parliamentary approval for a 12 trillion yen ($156 billion) extra budget for tsunami reconstruction, also contributed to the year-on-year decline reported Monday.
The world's No. 3 economy should get a boost once that rebuilding money kicks in, but the outlook for the country's vital exporters remains unclear, said Masayuki Kichikawa, chief Japan economist at Bank of America Merrill Lynch.
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Source: Todays' Zaman
OSE Declines Comment on Report Shareholders Want New Deal Terms
February 12, 2012--An Osaka Securities Exchange Co. spokesman declined to comment on a report shareholders want management to demand better terms for Tokyo Stock Exchange Group Inc.’s takeover bid.
“The opinions of the shareholders aren’t public and I can’t comment on anything beyond what’s in the public record,” said bourse spokesman Masahiro Yada. Shareholders are pushing for better terms in the deal announced Nov. 22, the Financial Times reported today, citing investors it didn’t name. The price is set and won’t be revised, Osaka bourse President Michio Yoneda, said in an interview with Bloomberg News on Feb. 8.
If the deal’s terms aren’t revised, investors said they may vote for the removal of OSE directors at the annual meeting of shareholders in June, a move which might derail the deal, according to the FT.
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Source: Bloomberg
China's January inflation jumps to three-month high
February 11, 2012--China's annual inflation hit 4.5 per cent in January, the highest level in three months, due to increased expenditure during the annual Lunar New Year holiday festivities.
The country’s consumer price index, a key gauge of inflation, was higher than 4.1 per cent in December and ended five straight months of easing price pressures caused by government restrictions on lending and property purchases.
Analysts said the holiday, also known as the Spring Festival, was unusually early this year and had distorted the monthly data.
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Source: The Monitor
SMX to launch landmark black pepper contract
February 11, 2012--The fledgling commodities operation of the Singapore Mercantile Exchange will launch the first global futures contract for black pepper on Friday in a move that some traders hope will set a global price benchmark and reduce the extreme volatility of recent years.
Pepper is one of the world’s most valuable traded spices, with the global trade worth about $1.5bn at the current price of about $6,000 a tonne, according to Saptak Gangopadhyay, vice-president of product and research at SMX.
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Source: Financial Express
Thai Bourse Sees Gold ETFs As Opportunity For Investment
February 10, 2012--The Stock Exchange of Thailand (SET) confirms that trading prices of all four gold exchange-traded funds (ETFs) listed on SET are efficiently in line with gold prices in the global market and their net asset values, and the exchange also assures investors of its surveillance system.
“The gold ETFs have proven very attractive for domestic investors since they listed on SET late last year, with a combined trading valuation of THB 6.52 billion (approx. USD 210 million) in 2011, because the instrument is an innovative financial tool well-designed to meet investor demand for gold trading. The SET-listed ETFs enable investors to buy or sell at any time during exchange trading hours and provide real-time indicative net asset values (iNAVs), unlike general gold funds. There is also no currency risk as the ETFs are traded in the Thai baht currency,” said Pakorn Peetathawatchai, SET’s Chief Marketing Officer.
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Source: Stock Exchange of Thailand (SET)
Japan's Azumi Distances Himself From Yen Intervention Remark
February 10, 2012--Japanese Finance Minister Jun Azumi distanced himself from his comments to lawmakers that indicated a level that triggered intervention in the yen in October.
“I instructed an intervention when the yen was 75.63, which could pose a threat to the Japanese economy, and finished when it was 78.20,” Azumi said in the parliament in Tokyo today. He didn’t mean that the level prompted intervention, and was referring instead to the yen’s closing price before the Oct. 31 sales, he later told reporters.
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Source: Business Week
Offshore Renminbi Market Set To Lure Issuers
February 10, 2012--Although yields have surged, the question is whether dim sum bond yields are high enough to compensate for the risks.
After an unruly sell-off at the end of last year, calm appears to have returned to the offshore renminbi market.
Dim sum bonds and other debt products denominated in the Chinese currency have rallied in recent weeks as investors became more optimistic about the outlook for the small but fast-growing market in Hong Kong.
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Source: FT.com
DB - Equity Research - Asia-Pac ETF+ Monthly Directory : January 2012 ETPs
February 9, 2012--The document includes all Asia-Pacific listed exchange-traded funds (ETFs) and exchange-traded commodities (ETCs). The directory is organized by country and asset-class-related sub sections. Within each sub section it has been sorted by ETP issuer by alphabetical order and by AUM in descending order.
A number of key information per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions for any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch. .
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Source: Deutsche Bank - Equity Research - Asia Pacific
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