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DB - Equity Research - Asia Pacific ETF Weekly Review: ETF AUM remains flat in spite of market downturn
October 24, 2011--Market Review
Asia-Pacific markets edged lower almost unanimously across the whole region. Japan (Nikkei 225) lost 0.79%, China (CSI 300) plunged by 5.50%, Hong Kong (HSI) declined by 2.57%, Singapore (FSSTI) fell by 1.16% and Australia (S&P/ASX 200) decreased by 1.51% over the previous week; while Korea (KOSPI2) gained 0.15% over the same period.
New Launch Review
Four new products were launched in the Asia-Pacific ETP market during last week. The Korean market saw three new ETFs listed in the Korea Exchange, Woori AM launched an ETF tracking Korean 10Y treasuries, KB AM launched an equity ETF tracking the KOSPI 200 index, and, new entrant, KDB AM listed an ETF with social responsibility focus.
The additional ETF was listed by Fortune SGAM FM in the Shanghai Stock Exchange and tracks the SSE 180 growth index (See Figure 4 for further details).
Turnover Review
Asia-Pacific ETP turnover totaled $6.3bn for last week, 19.5% down from the previous week’s total and 31% up from last year’s weekly average. South Korea continues to be on top of the turnover ranking with $3.2bn, followed by China ($1.2bn), Hong Kong ($0.9bn), Japan ($0.5bn), and Taiwan ($0.2bn). Among Equity ETFs, Emerging Country, Short Strategy, Leveraged, and Asia Pac Developed Country ETFs had total turnover of $2.3bn, $1.5bn, $1.2bn and $0.8bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $157m, 42% up from last week.
Assets Under Management Review
As markets retreated last week, Asia-Pacific ETP AUM fell to $90.7bn recording a minor decrease of 0.8% over the previous week. On a year to date basis, Asia-Pacific ETP market is $6.5bn or 7.7% above last year’s closing.
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Source: Deutsche Bank - Equity Research - Asia Pacific
Rising cost of credit hits Asian companies
October 24, 2011--Asian companies are being hit with rising costs for raising money in the region – even those with strong credit ratings.
While the severity of the problem varies across the region, junk-rated companies have found credit markets have been almost totally closed to them since June.
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Source: FT.com
BSE: Extended Trading In Gold ETF Securities On The Occasion Of Dhanteras
October 21, 2011--On the auspicious occasion of Dhanteras on Monday, October 24, 2011, the Exchange has decided to conduct Extended Live Trading session in Gold Exchange Traded Funds (ETF) securities in the Equity Segment.
Details of Gold ETF securities that would be available for trading in the extended session are as follows:
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Source: BSEIndia
ICICIdirect and NSE organize gold ETF awareness camps across India
October 20, 2011--ICICIdirect offers special Dhanteras discount of 50% on brokerage on gold ETFs investments
ICICIdirect.com in collaboration with National Stock Exchange announced a nation wide awareness camp for investors, which will be aimed at informing customers about the benefits of investing in gold ETF.
The camp will be organized across 66 cities in India in 240 ICICIdirect centres. The programme is scheduled to be held on Saturday, October 22, 2011.
In the last few years, gold exchange-traded funds (ETFs) have gained popularity in India. Investors are becoming aware of the benefits of investing in gold paper as opposed to holding it as jewellery.
Each gold ETF unit is almost equal to a gram of gold. These units are traded on the exchange like a stock of a company. Gold ETFs can be purchased online and they are one of the cheapest form of purchasing gold as there is no premium or making charge like in purchase of jewellery.
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Source: Moneylife.in
KRX releases new indices (F-LKTB index, F-LKTB inverse index)
October 20, 2011--KRX releases new indices, F-LKTB (Futures - 10 year Korea treasury bond index) and F-LKTB Inverse, from October 24, 2011.
Details of the New Indices
Name of the Index: F-LKTB, F-LKTB Inverse
Base Date: January 3, 2011 (for F-LKTB)
Base Value: 1,000 point
Website information is available on October 24, 2011.
Source: KRX
KRX to Have Three New ETFs Listed
October 20, 2011--The Korea Exchange (KRX) is going to list PIONEER SRI ETF, KB Star 200 ETF, and KOSEF 10-yr KTB ETF on October 20, 2011.
The underlying assets of PIONEER SRI ETF, KB Star 200 ETF, and KOSEF 10-yr KTB ETF are KRX SRI Index, KOSPI 200, and KIS KTB 10Y Index, respectively.
KRX listed 42 new ETFs this year, bringing the total number of ETFs to 106. KRX became one of the largest ETF markets in Asia Pacific region.
Source: KRX
BSE signs up FTIL's ODI for equity derivatives re-launch
ODIN is India’s No. 1 front end trading solution with over 80% market share
Move is additional fillip to BSE’s re-launch efforts in its Equity Derivatives segment
October 20, 2011: BSE Ltd. and Financial Technologies (India) Limited (FTIL) have signed an agreement to provide ODIN-a brokerage solution of FTIL—to BSE members as a part of the exchange’s efforts to re-launch its equity derivatives segment.
As per the agreement, the empanelled members on BSE will trade on its derivatives segment using ODIN™’s Computer-To-Computer-Link (CTCL) platform.
BSE, Asia’s oldest and first stock exchange, joined hands with FTIL, a global leader in offering technology solutions and domain expertise in creating and operating financial markets in multi-asset classes, with an aim to create sustainable liquidity and build a healthy derivatives order book on this segment, thereby implementing the two-tier series of its market-making scheme Liquidity Enhancement Incentive Programmes (LEIP).
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Source: BSE
China lets cities issue bonds
October 20, 2011--China said Thursday that it will allow four of its most developed cities and provinces to issue bonds on a trial basis, giving cash-strapped local governments a much-needed funding boost.
Local authorities have been under financial pressure after amassing huge debts through financing vehicles and lower revenue from land sales as the central government attempts to cool the red-hot property market.
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Source: AFP
Exit the renminbi, enter the 'Pan'
October 19, 2011-Chinese property developers have discovered an alternative to the renminbi, China’s currency, as they begin to advertise prices in “Pan”.
The new denomination is in fact a reference to Pan Shiyi, chairman of Soho China and one of the country’s most prominent property tycoons, used in a clever marketing trick that plays on public frustration with sky-high housing prices.
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Source: FT.com
Thai bourse adjusts constituents in SET50, SET100 indices
October 19, 2011--The Stock Exchange of Thailand (SET) reveals that
newly merged firm PTT Global Chemical plc (PTTGC) will be added to the SET50 and SET100 indices, effective from October 20, following the SET's previous
guidance announcement.
PTTGC is the result of the merger of PTT Aromatics and Refining plc (PTTAR) and PTT Chemical plc (PTTCH). The new company will be added into the SET50 and
SET100 indices, while PTTAR and PTTCH will be deleted from the two indices.
SET will add Dynasty Ceramic plc (DCC) into SET50 index and Toyo-Thai Corporation plc (TTCL) into SET100 index. The two securities are among five securities for each index held in reserve as replacements. The adjustment will also be effective on October 20.
For details on the selection criteria and method of calculation, please see
http://www.set.or.th/set50
Source: Stock Exchange of Thailand (SET)