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China's ESG ratings tarnish its allure for sustainable investors
November 30, 2020--Sustainable investing and the opening up of China's once closed markets are two of the hottest investment trends. But the world's second-largest economy has the worst environmental social and governance (ESG) ratings of any major nation and the two approaches may be on a collision course.
As of July, foreign portfolio investors had poured $374bn
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Source: ft.com
Hang Seng Tech ETF to Launch in Singapore
November 27, 2020--Debut in the future only days following the suspension of Ant Groups IPO in Hong Kong and Shanghai
Lion International Investors and OCBC Securitieshave partnered to start Singapores' first technology-focused echange traded investment, rolling on a ETF that tracks the recently launched Hang Seng Tech list, that has currently spawned a host of new items in Hong Kong.
The launch of this ETF comes simply days following the suspension system of the very predicted preliminary public offering of Ant Group that had been set to debut in both Hong Kong and Shanghai, along with the introduction of stricter antitrust laws and regulations in Asia, which analysts advise may significantly dampen buyer interest when it comes to method.
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Source: ft.com
India suffers first recession in decades
November 27, 2020--India has plunged into recession for the first time in nearly a quarter of a century as the pandemic continues to weigh heavily on Asia's third biggest economy, which economists warn will struggle to recover from the slump.
Official data published on Friday showed gross domestic product for the July-September quarter fell by 7.5% compared to the same period last year, when the economy was growing by more than 4%.
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Source: cnn.com
Vanguard's exit from Asia mandates rattles feeder fund partner
November 26, 2020--Executive complains of lack of clarity about future intentions from US manager.
The abrupt decision by Vanguard to cut ties with many large institutional investors in Asia has left at least one feeder fund business partner in the region.
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Source: ft.com
Mystery glitch shuts down the ASX halting Australia's $1.7TRILLION stock market
November 15, 2020--The Australian Securities Exchange has announced glitch has stopped trade
A statement was issued via Twitter just before 11am apologising for 'disruption'
BHP, Commonwealth Bank shares had stopped trading shortly after 10am open
CMC Markets strategist Michael McCarthy said share infrastructure 'stressed'
ASX managing director Dominic Stevens issued an apology after market closed
The issue remained unresolved by 4pm when the market had closed for the day
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Source: dailymail.co.uk
RCEP: Asia-Pacific nations sign world’s biggest trade pact
November 15, 2020--The China-backed RCEP deal excludes the US and will account for 30 percent of the world's economy and population.
China and 14 other countries have agreed to form the world's largest free trade bloc, encompassing nearly a third of all economic activity, in a deal many in Asia are hoping will help hasten a recovery from the shocks of the coronavirus pandemic.
The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations (ASEAN).
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Source: aljazeera.com
China Construction Bank sells US$3 billion worth of debt on blockchain
November 11, 2020--First from a Chinese bank, the US$3 billion digital certificates of deposit set to be traded on a digital exchange in Labuan, Malaysia using bitcoin
Blockchain is making stocks and bonds more accessible to retail investors
China Construction Bank has partnered with Hong Kong-based fintech company Fusang to launch the sale of US$3 billion worth of debt on a blockchain, the first digital security issued by a Chinese bank on the technology.
Blockchain has made issuing conventional financial instruments, such as equities and bonds, possible at much lower costs as fewer financial intermediaries are involved in the process.
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Source: scmp.com
Japan Banks to Hit Profit Goals as Stimulus Curtails Bad Loans
November 10, 2020--Credit costs are likely to stay within targets, analysts say
MUFG, Mizuho and Sumitomo Mitsui report earnings this week
Japan's three biggest banks are likely to stay on course toward achieving their annual profit goals as bad-loan costs remain in check, analysts said ahead of fiscal second-quarter results due this week.
Massive government and central bank aid has spurred lending and kept companies afloat during the pandemic-fueled recession, reducing the need to ramp up provisions. Investment banking has been picking up, helping to alleviate the impact of rock-bottom interest rates that are squeezing lending profitability at home and abroad.
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Source: bloomberg.com
Indonesia-A Recipe for Stronger Financial Risk Management
November 10, 2020--The move towards a sovereign asset and liability management approach
Indonesia gradually adopted an asset and liability management (ALM) approach, looking at both sides of the sovereign balance sheet.
Today, the Indonesian government has a broader picture of financial risk exposure by incorporating central bank and state-owned enterprise data in addition to public debt into their financial risk management decisions.
The Government Debt and Risk Management (GDRM) program played a significant role in Indonesia's adoption of the ALM approach.
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Source: World Bank
US manager VanEck applies for China retail fund management licence, report says
November 9,2020--US asset manager VanEck has applied to set up a wholly-owned retail fund management business in China, the Financial Times reports,quoting Chief Executive Officer Jan van Eck and Richard Tang,chief executive of VanEck Greater China.
The move comes after Beijing scrapped foreign ownership limits in retail fund management in April.
VanEck is one of four foreign asset managers that have since applied for the licence. The others are US asset managers BlackRock, Fidelity and Neuberger Berman. BlackRock was the first to be approved in August.
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Source: asiaasset.com