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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
Thai Bourse Announces Constituents Of SET50, SET100 And SETHD Indices For H2/2011
December 13, 2011--The Stock Exchange of Thailand (SET) has announced the new constituents of the SET50, SET100 and SETHD indices for the first half of 2012 (January 1- June 30, 2012), SET Group Head, Products Business & Development Kesara Manchusree said.
The SET50 index will be added 3 companies: Berli Jucker PCL (BJC), Supalai PCL (SPALI), and Thai Plastic and Chemicals PCL (TPC) into its index constituents. There are also 7 additions in the SET100 index: Berli Jucker PCL (BJC), Gunkul Engineering PCL (GUNKUL), Khonburi Sugar PCL (KBS), LH Financial Group PCL (LHBANK), SC Asset Corporation PCL (SC), Ticon Industrial Connection PCL (TICON), and Thai Plastic and Chemicals PCL (TPC) The SET High Dividend Index (SETHD) will be added 3 companies, Polyplex (Thailand) PCL (PTL), SC Asset Corporation PCL (SC), and Thai Plastic and Chemicals PCL (TPC).
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Source: Stock Exchange of Thailand (SET)
US Economy to Recover Before Europe, Predicts Scholar
Growth Potential Remains in China, but Restrained by Structural Policy
The US, driven by strong market forces and rapid economic restructuring, is expected to recover from economic downturn before Europe.
This is because fiscal and currency restructuring will take longer to implement in Europe, according to renowned Chinese scholar Xu Xiaonian, who was speaking at a seminar jointly hosted by Hong Kong Mercantile Exchange (HKMEx) and Chinese Securities Association of Hong Kong (HKCSA) in Hong Kong yesterday.
Speaking on the topic “The Re-balancing of the Global Economy”, Mr Xu, a professor at the China Europe International Business School, said: “Globalization has created serious imbalances in the world economy. The US over-borrows and over-spends, while the Chinese are excessively saving and investing.”
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Source: Hong Kong Mercantile Exchange
ASIC releases information sheet on credit rating agency reporting obligations
Dwcwmbwe 13, 2011--ASIC has released an information sheet that specifies new reporting requirements for credit rating agencies (CRAs).
From early 2012, all CRAs operating in Australia must lodge an annual compliance report with ASIC. These reports will assist ASIC in monitoring compliance with AFS licence conditions, including the mandatory obligation on CRAs to comply with the International Organization of Securities Commissions’ Code of Conduct Fundamentals for Credit Rating Agencies (IOSCO Code).
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Source: ASIC
Funds see strong outflow in Sept, Oct
December 13, 2011--Hong Kong' fund industry saw net capital outflows in September and October, with September's net outflow hitting the highest level since December 2008, in a sign that investors have turned more risk-averse amid economic uncertainty.
The local investment fund industry group, the Hong Kong Investment Funds Association (HKIFA), released the local authorized fund sales data for the first 10 months of 2011 on Monday. The HKIFA has 64 fund management companies as full/overseas and affiliate members.
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Source: China Daily
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