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Boom in Chinese bond sales masks problems
November 2, 2011--Six years ago, China’s central bank governor Zhou Xiaochuan said the country’s corporate bond market was in a “deep coma”.
He warned that its underdevelopment posed serious risks to the mainland economy. Back then, Chinese companies were raising the equivalent of just $8bn a year from bond sales.
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Source: FT.com
Shanghai Metals Fall On Weak China October PMI Data
November 1, 2011--Base metals on the Shanghai Futures Exchange settled lower Tuesday tracking weak equities, after an initial surge following the release of China's October manufacturing data, amid overall pessimism on the global economy.
Benchmark January copper settled 0.2% lower at CNY58,300 a metric ton.
Copper flipped into positive territory minutes after China released its official manufacturing report, as expectations that Beijing may take more measures to tackle China's slowing economy greatly boosted sentiment, analysts said.
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Source: Wall Street Journal
KRX -Evolution of derivatives
October 30, 2011--The Korean derivatives market carries pride as well as a stigma: It is the home to the world’s most liquid derivatives while it has been blamed as the “graveyard of ants” meaning losses suffered by individual investors.
While industry insiders fear the society’s indiscriminate contempt against derivatives and the potential political actions could shrink or even destroy them, the market is evolving.
In Korea, 85 percent of exchange-traded derivatives are equity-based in terms of balance, compared to 10 percent based on interest rate and five percent on currency, as of June, 2010.
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Source: Korea Times
HKEx Changes Of Designated Securities For Short Selling
October 28, 2011--The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announces that with effect from 4 August 2010 (Wednesday), 40 additional securities will be eligible for short selling and 19 existing designated securities will be removed from the list. The total number of designated securities for short selling will be 603 after the revision.
The securities to be added to the list of designated securities and the securities to be removed from such list are shown in the attachment. The revised list of all designated securities is also available on the HKEx website.
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Source: Stock Exchange of Hong Kong Limited
Thai bourse lists gold-based ETF "BCHAY" on Nov. 1
October 28, 2011--The Stock Exchange of Thailand (SET) will list Bualuang CHAY Gold ETF, managed by Bualuang Asset Management Co., Ltd, on its main board starting from November 1, under the ticker "BCHAY."
BCHAY, an open-ended exchange-traded fund (ETF), has a policy to invest in
domestic gold bars of 96.5 percent purity.
"We are very pleased to be a part of Thailand's gold investment development and help upgrade it to the international level. With the launch of gold-based ETF, Thai investors are now able to manage their portfolios more efficiently. BCHAY is a result of fund innovation and investment in 96.5-percent gold bars, which is an accepted gold trading standard. The ETF facilitates investors with real-time trading, enabling them to track gold prices conveniently, timely and quickly through the SET's reliable trading and settlement systems. Meanwhile, there is no problem in storage and safety maintenance of the gold bullion as the fund manager will operate them," SET President Charamporn Jotikasthira noted.
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Source: The Stock Exchange of Thailand
Equally Weighted Index Issued For 4 Core Indexes Of Shenzhen Stock Exchange
October 28, 2011--Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. declared today to issue SZSE 100 equally weighted index, SZSE 300 equally weighted index, SME board equally weighted index and ChiNext board equally weighted index on October 28, 2011. In these indexes, weighted calculation will be launched on the sample stocks by applying equal weighting method based on the SZSE 100 index, SZSE 300 index, SME board index and ChiNext board index.
The equally weighted index will assign the same initial weights to the sample stocks. It is a strategic index with extensive applications, because equal weighting is able to optimize the weight distribution of industries and individual stocks and improve the long-term revenue performance of index.
As shown by data, by applying the equal weighting method, the weights for the emerging industries in Shenzhen indexes have been optimized to more precisely reflect the distribution characteristics of Shenzhen stock market. The history revenue performance also proved this.
The code for SZSE 100 equally weighted index is 399632, and the base date is December 31, 2002. The code for SZSE 300 equally weighted index is 399633, and the base date is December 31, 2004. The code for SME board equally weighted index is 399634, and the base date is December 29, 2006. The code for ChiNext board equally weighted index is 399635, and the base date is September 30, 2010. The base date index is 1000 points for each of the 4 equally weighted indexes.
Source: Shenzhen Stock Exchange.
BSE annuls all derivatives trades on Wednesday
October 27, 2011--The Bombay Stock Exchange (BSE) has annulled all derivatives trades on its exchange conducted on Wednesday due to a large movement of the index futures, it said in a statement.
The exchange has suspended a member from any further trading in proprietary position in all segments of BSE, but did not identify the member.
BSE has started a detailed investigation into the matter, it added.
Source: Reuters
ASX Trading Outage
October 27, 2011--ASX Trade, the platform upon which various order books of the Australian Securities Exchange (ASX) operate, resumed trading at 2.00pm today after being halted just after 10.05am.
The market was halted due to a network connectivity issue that prevented participants from interacting with the trading platform.
ASX Trade markets closed today as normal and are expected to open at the regular time of 10:00 am tomorrow. The ASX 24 futures market operated normally throughout the day.
ASX’s technical team worked in conjunction with its technology provider – NASDAQ OMX – to resolve the issue.
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Source: Asia E-trading
Japan central bank expands monetary easing
October 27, 2011--Japan's central bank on Thursday kept its key interest rate at nearly zero and will expand the size of an asset buying program to lend stronger support to the economy.
The Bank of Japan's policy board decided unanimously at a one-day meeting to leave the overnight call rate target at zero to 0.1 percent.
It voted 8-1 to increase its asset purchase program by 5 trillion yen to 55 trillion yen ($723 billion). It will use the extra funds to buy Japanese government bonds, hoping that further monetary easing will offset the export-sapping strength of the yen.
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Source: Todays Zaman
Thai bourse lists gold-based ETF "KG965" on Oct 27
October 25, 2011--The Stock Exchange of Thailand (SET) will list K-Gold ETF, managed by Kasikorn Asset Management Co., Ltd., on its main board on October 27, under the ticker "KG965."
KG965, an open-end exchange-traded fund (ETF), has a policy to invest in
domestic gold bars of 96.5 percent purity which are kept in safe deposit.
"It is Thailand's first ETF tracking 96.5-percent gold bar, which is an accepted standard in Thailand's gold trading industry. I believe that this ETF is an alternative to meet investors' demand for those familiar with gold bar trading. Investors are able to access real-time trading through SET's reliable trading system and their brokers, and also have opportunities to get returns similar to investment in gold," said SET President Charamporn Jotikasthira.
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Source: The Stock Exchange of Thailand
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