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Japan forecasts 2.2% growth next year
December 22, 2011--Japan’s economy will expand 2.2% in the fiscal year starting in April, the government said on Thursday, as housing investment picks up following a devastating earthquake and as subsides spur consumption and capital expenditure.
The Cabinet Office issues economic forecasts in December for the following fiscal year, and its figures provide the basis for the government to compile its annual budget.
The government is expected to decide on its draft budget for fiscal 2012/13 in the coming days.
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Source: FIN24
Japan warns of economic standstill
December 21, 2011--Japan’s central bank offered a bleaker view of the economy and the government warned of worsening business sentiment as exports slumped, adding to evidence of the pain Europe’s debt crisis is inflicting on global growth and Japan’s recovery prospects.
But in a sign Japan’s tattered finances leave it with little room for more fiscal stimulus, Rating and Investment Information (R&I) stripped the country of its AAA status, the first downgrade by a domestic credit rating agency.
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Source: FIN24
Fukushima decommissioning to take 30-40 years
December 21, 2011--Japan said on Wednesday it aims to decommission the tsunami-stricken Fukushima nuclear power plant over 30-40 years, as it unveiled the next phase in its cleanup plan for the complex.
After months of efforts Japan said last week that the Fukushima reactors were in a state of cold shutdown, when water cooling them is stable below boiling point, and that radiation at the plant’s boundaries could now be kept at low levels.
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Source: FIN24
India holds rates steady on growth concerns
December 15, 2011--India's central bank held key interest rates steady Friday as it struggles to foster growth amid high inflation, disappointing businesses who were looking for more drastic action.
The Reserve Bank of India kept the short-term lending rate, or repo rate, at 8.5 percent and the reverse repo rate - the rate it pays to banks for deposits, at 7.5 percent. The bank also kept the cash reserve ratio for commercial lenders unchanged.
"Downside risks to growth have clearly increased," the bank said in a statement. "However, it must be emphasized that inflation risks remain high."
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Source: Todays Zaman
HKEx Plans to Start After-Hours Futures Trading in the Second Half of 2012
December 15, 2011--Hong Kong Exchanges and Clearing Limited (HKEx) will proceed with a revised version of its proposal and start after-hours futures trading (AHFT) in the second half of 2012 after market support was found in a consultation.
HKEx published today (Thursday) its consultation conclusions on AHFT. The consultation paper, which was published in May of this year, drew 455 responses comprising of submissions from Exchange Participants (EPs) / Clearing Participants (CPs), professional and industry associations, market practitioners and individuals.
More than three-quarters of the respondents (353 out of 455, or about 78 per cent) supported the proposal, including 67 futures market EPs which accounted for 80 per cent of Hang Seng Index futures and H-shares Index futures market trading in the first half of this year.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
HKEx to IntroduceHSI Volatility Index Futures on 20 February
December 15, 2011--Hong Kong Exchanges and Clearing Limited (HKEx) will introduce trading of HSI Volatility Index (VHSI) Futures on Monday, 20 February 2012.
The VHSI, which is compiled by Hang Seng Indexes Company Limited, measures the expected volatility of Hang Seng Index (HSI) over the next 30 days implied by HSI options prices. The VHSI is calculated based on the Chicago Board of Options Exchange’s Volatility Index (VIX) methodology with modifications, taking into account the trading characteristics of the HSI options market.
“VHSI is a direct reflection of the level of short term volatility in the Hong Kong stock market and VHSI Futures give investors a convenient and cost-effective way to hedge and manage volatility exposure,” said HKEx’s Head of Trading Calvin Tai. “We expect they will attract interest from investors and complement the existing options related investment products both in exchange traded and OTC markets.”
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
SSE 300 Index, SSE 100 Index and SSE 100 Equal Weight Index To Be launched
December 15, 2011--To further enhance the SSE index family as well as to provide new analysis tools and underlying instruments for investors, Shanghai Stock Exchange and China Securities Index Co., Ltd announced that the SSE 300 Index,
SSE 100 Index and SSE 100 Equal Weight Index would be launched on Jan 10, 2012.
Source: Shanghai Stock Exchange
South Korea Should Oppose Private-Equity Bids for Woori, Panel’s Lee Says
December 14, 2011-South Korea should discourage buyout firms from bidding for Woori Finance Holdings Co. (053000) to avoid repeating the mistake it made when Lone Star Funds acquired Korea Exchange Bank, according to a member of the committee in charge of state asset sales.
“We must learn the lesson from this painful experience,” Lee Jae Sool, who was appointed to the Public Fund Oversight Committee in September, said an interview on Dec. 9 in Seoul. “We shouldn’t let private-equity funds buy Woori the next time the government tries to privatize it.”
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Source:Bloomberg
China money growth slows to decade low
December 14, 2011--Chinese money growth slowed to its lowest in more than a decade last month, keeping the pressure on the government to loosen monetary policy and prevent the economy from slowing too sharply.
Beijing has already switched to easing mode, as marked by its cut of banks’ reserve requirements two weeks ago, but the latest data showed that downside risks were still proliferating.
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Source: FT.com
SZSE Component Index, SME Board Index, CNINFO 100 Index and Other Indexes to Adjust Sample Stocks
December 14, 2011--Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. declared today to make regular adjustment to the sample stocks of SZSE Component Index, SME Board Index, ChiNext Board Index and other SZSE core indexes.
Meanwhile, Shenzhen Securities Information Co., Ltd. also declared to adjust the sample stocks of CNINFO 40 Index, CNINFO 100 Index and other cross-market indexes. This adjustment will be valid from the first trading day in January 2012.
In the adjustment, 3 stocks under the SZSE Component Index will be replaced: XCMG Construction Machinery, China Nonferrous Metal and Changyu A will be added to the index, while Guoyuan Securities, Hualan Biological and Faw Car will be deleted; 9 stocks under the SME Board Index will be replaced: Jinggong Science and Technology, Goodark and other 7 stocks will be added to the index, while Jiangsu Miracle, Novel and other 7 stocks will be removed; 2 stocks under the ChiNext Board Index will be replaced: Zhenghai Magnetic Material and D.A. Diagnostics will be included in the index, while Dinghan Technology and Tianyuan Dic will be excluded; 6 stocks under the SZSE 100 Index will be replaced; Oceanwide Real Estate, Tianshan Cement and other 4 stocks will be added to the index, while Jinling Mining Baolihua, New Energy Stock and other 4 stocks will be excluded. 2 stocks under the CNINFO 40 Index will be replaced; Xishan Coal & Electricity Power and Yangtze Power will be removed from the index, while Baotou Steel Rare-earth and China Coal Energy will be included. 6 stocks under the CNINFO 100 Index will be replaced; Hong Yuan Securities, Faw Car and other 4 stocks will be removed from the index, while China Nonferrous Metal, Shuanghui Investment and Development and other 4 stocks will be included.
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Source: Shenzhen Stock Exchange
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