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HKE Status Report on New Product and Market Development Initiatives
(Status as of 15 July 2011)
July 29, 2011--Initiatives are subject to change and may require broad market support and/or regulatory approval before they can be implemented. HKEx will announce further details of these initiatives as they progress.
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Source: HKEx
HKEx reveals plan to ensure survival
July 29, 2011--Hong Kong Exchanges & Clearing (HKEx) has laid out details of an “urgent and necessary” strategic plan to allow it to compete with the emergence of local rivals, tackle competition from other global exchanges and survive future financial shocks.
The plan, described this week by Charles Li, chief executive, is a sign that HKEx has become the latest exchange in Asia to overhaul its business in response to emerging pressures of competition in share dealing, the growth of “high-frequency” trading and opportunities in derivatives thrown up by the post-crisis push to regulate
over-the-counter derivatives markets.
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Source: FT.com
FinMin to meet Sebi, exchange officials on market reforms
July 27, 2011--With a view to discuss ways to expedite policies for growth and reforms in the stock market, the Finance Ministry has called a meeting of top officials from Sebi and various stock exchanges early next month.
Among other issues, the recent decline in stock market business volumes and the launch of some new products and segments for its future growth would be discussed at the meeting scheduled for August 6.
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Source: Economic TImes India
Aussie dollar gains as rate cut hopes dashed
July 27, 2011--The Australian dollar surged to a 29-year high against the US dollar on Wednesday after an unexpectedly large rise in inflation dashed expectations the nation’s central bank would lower interest rates in the coming months.
Underlying inflation, a measure that strips out volatile price moves, rose 0.9 per cent in the second quarter for an annual rate of 2.7 per cent, pushing it to the top end of the Reserve Bank of Australia’s target band of 2 to 3 per cent.
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Source: FT.com
TSE Published The Index Value Of TSE Home Price Index For May
July 26, 2011--TSE published the index value of TSE Home Price Index for May on July 26, 2011. The index value of TSE Home Price Index (Used Condominium, Composite of Tokyo Metro Area) is 81.86 points.The index value of TSE Home Price Index (Used Condominium, Tokyo) is 85.69 points.
The index value of TSE Home Price Index (Used Condominium, Kanagawa) is 81.87 points. The index value of TSE Home Price Index (Used Condominium, Chiba) is 72.30. The index value of TSE Home Price Index (Used Condominium, Saitama) is 69.70 points.
Source: Tokyo Stock Exchange
KRX To List KODEX Solar Energy ETF On July 27, 2011
July 26, 2011--The Korea Exchange (“KRX”) is going to list KODEX Solar Energy ETF that tracks Solar Energy Index produced by FnGuide. The trust principal is approximately KRW 7.1bil.
With the listing of KODEX Solar Energy ETF, the total number of ETFs listed this year would be 37, bringing the total number of the ETFs listed on the KRX to 101.
The base value of Solar Energy Index is 1,000 points, with the base date of September 1, 2009, and as of July 20, 2011, the index value is 2,925.37 pt. The recent 3-month return is -9.6 %pt below that of KOSPI, however, the return for recent two years and 2011 is 55.09% and 15.45%, respectively, higher than that of KOSPI.
KODEX Solar Energy ETF agrees with today’s green growth trends, and is expected to contribute the growth and development of green industry. In addition, investors could enjoy the opportunity to invest in the companies that do businesses in the new growth engine areas.
Source: KRX
Release of the "Partial Revisions of Securities Listing Regulations in Connection with Partial Revisions of Registration System for Listed Company Audit Firms, etc."
July 26, 2011--Tokyo Stock Exchange, Inc. (TSE) released the “Partial Revisions of Securities Listing Regulations in Connection with Partial Revisions of Registration System for Listed Company Audit Firms, etc.”.
We will be accepting public comments regarding this partial revision from July 26, 2011 until August 9, 2011.
view the "Partial Revisions of Securities Listing Regulations in Connection with Partial Revisions of Registration System for Listed Company Audit Firms, etc." paper
Source: Tokyo Stock Exchange
India’s central bank raises key interest rate
July 26, 2011--India's central bank raised its key interest rate by half a percentage point Tuesday, its 11th hike in less than a year and a half, as it warned that inflation remains the country's main economic concern.
The bank raised the short-term lending rate - or repo rate - from 7.5 percent to 8 percent, a bigger increase than expected after inflation rose to 9.4 percent in June from 9.1 percent in May. "Inflation continues to be the dominant macroeconomic concern," said Reserve Bank of India Governor Duvvuri Subbarao.
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Source: Todays Zaman
Deutsche Bank - Equity Research-Asia-Pac ETF Market Weekly Review: Market rally pushes AP ETP AUM closer to $100bn
July 25, 2011--Market Review
Asian stocks climbed last week as a result of the steps taken by European leaders toward easing the region’s sovereign debt crisis including fresh aid for Greece, although Chinese stocks fell owing to the rising interest rate concerns. In all, Japan (Nikkei 225) advanced by 1.58%, Korea (KOSPI2) gained 1.07%, China (CSI 300) plunged by 1.95%, Hong Kong (HSI) increased by 2.60%, Singapore (FSSTI) climbed by 3.20% and Australia rose by (S&P/ASX 200) 2.89%.
New ETP launches: New offerings bring Korea Stock Exchange to the century mark
With the launch of five new products last week, total listed ETP count on the Korea Stock Exchange reached 100. Among the new launches Mirae Asset MAPS Global Investments listed two Equity ETFs, tracking S&P 500 Futures Excess Return Index and KRX Health Care Index respectively, and one Fixed Income ETF providing inverse returns on the 3Y Korea Treasury bond futures prices (F-KTB Index). In addition, Woori Asset Management listed one Equity ETF tracking the FnGuide-RAFI Korea Large Index, and Samsung Investment Trust Management listed one Commodity ETF tracking the S&P GSCI Sliver TR Index.
Turnover Review: Floor activity down by 25%
Last week, turnover activity was down in all the major Asia-Pacific markets and after a week-over-week decline of 25%, total turnover reached $4.3bn. In the past week, South Korea topped the turnover ranking with $1.5bn (down 18%) followed by Hong Kong ($889m, down 40.6%), China ($847m, down 18%), Japan ($468m, down 19.1%) and Taiwan ($210m, down 41.3%). Among Equity ETPs, Emerging Country ETPs experienced a significant week-over-week turnover fall of $871m or 32.1%. On the Commodities section Gold ETPs activity also declined by 31.6% totaling $149m for the last week.
Assets Under Management Review: Moving towards $100bn
Asia-Pacific ETP AUM advance continues and last week it reached $97.2bn with a 1.8% week-over-week increase. On a year to date basis, Asia-Pacific ETF market is significantly above last year’s closing of $13bn or 15.4% increase. .
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Source: Deutsche Bank - Equity Research - Asia
‘Pension money is the game-changer'
July 22, 2011--Pension money is the way to greatly improve retail participation in the equity market. On any 20-year horizon, this asset class is the only one that will produce a return to beat inflation by a significant margin. We cannot flog only the retail horse. To build market volumes, we need institutions, arbitrageurs, and so on. For that, you need to keep an eye on taxes and duty structures. If they become too high, it is counter-productive; volumes will collapse.
Mr Ravi Narain, Managing Director of India's premier stock exchange, the NSE, has several unconventional ideas to encourage retail participation in the markets — inject pension funds into equities in small doses, promote exchange-traded funds and make free research available on every listed company. He and Ms Chitra Ramakrishna, Deputy Managing Director, also assert that the NSE is very much in favour of listing of the stock exchange, if the regulatory part can be separated.
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Source: Hindu Business Line