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Japan Officials Tell U.S. Volcker Rule May Hamper Government Bond Trading
January 12, 2011--Japan’s central bank and financial regulator told U.S. authorities that the Volcker Rule restricting proprietary trading would hamper the market for Japanese government bonds, according to a letter released today.
The proposed rule limiting banks’ ability to buy and sell securities for their own accounts would increase the cost of trading Japanese government bonds, the Financial Services Agency and Bank of Japan wrote in the letter dated Dec. 28.
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Source: Bloomberg
Leaner Hedge Fund Sector Forecast to Emerge in Asia
January 12, 2011--A leaner hedge fund industry will prevail this year, with new hedge funds facing a challenging fundraising environment as prime brokerages and administrators battle to maintain or increase margins, according to Eurekahedge.
The Singapore-based data provider forecasts that the number of fund launches in 2012 will be similar to the 130 launched last year, but down from the 183 new funds seen in 2010. Net inflows are expected to reach $5 billion this year, bringing total industry assets to more than $140 billion by end-2012 – up from the current $125 billion, but short of 2007’s all-time high of $176 billion.
Source: Asian Investor
Silk Road Management Launches Silk Road Australia Index
January 11, 2012--Silk Road Management is pleased to announce that it launched Silk Road Australia Index (SILKAU), a debut benchmark that includes largest Mongolia and Central Asia-focused companies with listing on the Australian Stock Exchange (ASX).
The index currently covers 10 companies with the total market capitalization of US$1.2 billion (December 31, 2011) and is set with initial value of 1000 as of January 1, 2012.
Alisher Ali, Managing Partner, Silk Road Management stated, “We believe that the Silk Road Australia index with albeit modest US$1.2 billion market capitalization is expected to expand significantly in coming years on the back of upcoming IPOs of Mongolia focused resource companies on the ASX and accelerated acquisitions in the mining sector in Mongolia by existing ASX-listed companies”. Similarly, the Silk Road Hong Kong Index more than tripled to US$12 billion in market capitalization at end-2010 from US$3.4 billion at the beginning of the same year due to three IPOs of Mongolian resources companies on the Hong Kong Stock Exchange – Mongolian Mining Corp., SouthGobi Energy and Winsway Coking Coal Holdings.
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Source: Silk Road Management
New ETF to be Listed on Mar. 30, 2012 (Fri.) - Nikko Asset Management Co., Ltd. "Listed Index Fund Emerging Bond"-
January 11, 2012--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF created by Nikko Asset Management Co., Ltd. The ETF will be listed on Friday, March 30, 2012..
Code: 1566 (ISIN JP3047420009)
Name:Listed Index Fund Emerging Bond (Barclays Local EM)
Fund Administrator:Nikko Asset Management
Listing Date: March 30, 2012
Trading Unit: 1 unit
Underlying Index :Barclays Capital Emerging Markets Local Currency Government - 10% Country Capped Index
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Source: Tokyo Stock Exchange (TSE)
China regulator says mulling bond, silver futures
January 10, 2012--China stock market regulator said it would consider launching government bond futures and other commodities-related futures such as crude oil and silver in a bid to develop the country's nascent derivatives market.
Guo Shuqing, the newly appointed chairman of the China Securities Regulatory Commission (CSRC), said the commission would accelerate plans to roll out more equities, bonds and funds related investment products as part of wider efforts to open up the country's financial sector.
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Source: Reuters
Postpone the Launch of SSE 300, SSE 100 and SSE 100 EW Indices
January 9, 2011--SSE and CSI together decided to postpone the scheduled launch of SSE 300, SSE 100 and SSE 100
EW Indices on Jan 10th 2012.
Source: Shanghai Stock Exchange
Indian PM set sights on 10% growth
January 8, 2012-- Indian Prime Minister Manmohan Singh on Sunday said he hoped the nation's economy would overcome a recent dip in confidence to post annual growth rates closer to 9% or 10%.
Addressing a business conference in the northwestern city of Jaipur, the premier admitted that growth in the current financial year would be down sharply from earlier government forecasts of 9%.
"Despite an adverse international environment, the India economy is (still) expected to grow by about 7.0% this financial year ending 31st March," he said.
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Source: FIN24
Lyxor’s exit from HK highlights rise of competition
January 8, 2012--If you want to make money with exchange traded funds in Asia you must pick your market and stick with it, according to the man who pulled the plug on Lyxor’s stable of Hong Kong-listed synthetic ETFs.
In early December Lyxor International Asset Management announced it would delist 12 synthetic ETFs from Hong Kong in March, citing the levels of assets under management and trading volumes of their products.
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Source: FT.com
Hong Kong Regulator Approves Synthetic ETFs; First in 18 Months
January 4, 2012--Hong Kong’s regulator approved six Deutsche Bank AG (DBK) synthetic exchange-traded funds, the first time it has allowed such products since July 2010.
Synthetic ETFs are investments that mimic the behavior of exchange-traded funds through the use of derivatives such as swaps. The products, authorized on Dec. 30, are part of Deutsche Bank’s db X-trackers series, according to the Securities and Futures Commission website.
The SFC’s approval comes more than three years after the bankruptcy of Lehman Brothers Holdings Inc. (LEHMQ) Following that insolvency, financial institutions in the city faced criticism for selling investment products containing derivatives to individual investors.
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Source: Bloomberg
Asian shares rise on China economic data
January 3, 2011-- Asian shares rose on Tuesday, taking a lead from European markets which started 2012 in positive territory, and after China announced better-than-expected manufacturing data.
Australia's S&P/ASX 200 was up 1.16%, Hong Kong rose 1.80% in morning trade while Seoul was 2.50% higher.
Financial markets in China, Japan and Thailand were closed for a public holiday.
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Source: FIN24