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Bank of Japan backs away from ETF buying scheme
March 21, 2021--Bank of Japan Governor Haruhiko Kuroda said on Monday that the central bank would not stop buying exchange-traded funds (ETFs) or sell them as it tries to make its easing tools more flexible and sustainable under its yield curb control policy.
Speaking before the upper house financial committee, Kuroda said its review of ETF purchases would allow the BOJ to continue using easing policy "more flexibly and effectively."
The central bank removed an explicit guidance to buy ETFs at an annual pace of roughly 6 trillion yen ($55.13 billion) in a review of its policy tools unveiled on Friday.
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Source: reuters.com
Beijing seeks more information on VanEck China ETF plans
March 18, 2021--Move marks departure from previous stipulation that applicants simply be 'top ranking'
China's fund regulator has requested "explanations" from VanEck over its ETF plans in a communication that appears to mark a departure from Beijing's previous stipulation that applicants for fully owned fund management units should be "top ranking".
The China Securities Regulatory Commission issued an official document last Thursday detailing its feedback on VanEck's application, submitted on October 29, for a new retail fund management unit in the market.
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Source: FT.com
Now available on the ASX: BetaShares Ethical Diversified ETFs
March 18, 2021--The BetaShares Ethical Diversified ETFs are cost-effective, all-in-one portfolio solutions for investors whose priority is investing in a way that aligns with their values.
The Ethical Diversified ETFs provide exposure to true-to-label, ethically-screened, multi-asset portfolios, and are offered across three risk profiles: Balanced, Growth and High Growth.
They are built using BetaShares' market-leading range of RIAA-certified ethical ETFs*, which now account for over $2.2 billion in funds under management.
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Source: betashares
The Future of Asia: What a Difference a Year Can Make
March 17, 2021-The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance. Japan is back to planning the delayed 2020 Summer Olympics, while China focuses on the Beijing 2022 Winter Games.
Having been hit by COVID-19 first, Asia is also recovering first. At the pandemic's first anniversary, is the region back to full health?
The best answer is that it is too early to know for sure. The pandemic exacerbated existing long-term issues: slowing productivity growth, growing indebtedness, aging population, rising inequality, and managing climate change. A new IMF staff paper looks into how the region can navigate these multiple challenges.
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Source: IMF
BetaShares Australian ETF Review-February 2021: Fund Flows Remain Strong as Sharemarkets Continue To Rise
March 16, 2021--The month of February saw the U.S. and Australian sharemarkets continue their recent strong form, while ETF industry inflows themselves remained solid. The Australian ETF industry continued to grow, and reached yet another new record high of $97.3B at the end of the month. Read on for more details, including best performers, asset flow categories and more.
Market cap
ASX Exchange Traded Product market cap: $97.3B1-all-time end of month high
Market cap change for month: +0.6%, +$0.5B
Market cap growth for the last 12 months: +52%, + $33.3B
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Source: betashares.com.au
Vanguard Hits Pause on Fund Ambitions in China
March 16, 2021--The decision is part of the U.S. financial giant's push to focus on dispensing advice in China with Ant G
American financial giant Vanguard Group has suspended plans to launch a mutual-fund business in China.
The Malvern, Pa., firm told staffers in recent days that it was pausing months of preparations to sell its funds to Chinese consumers. The firm had been planning to seek Beijing's approval for the business.
The $7.2 trillion asset manager has for years aimed to bring low-cost index funds to China, a radical idea in a country where investors prize funds that pick and choose investments to beat markets. But Vanguard executives have now decided that building a meaningful presence in China's fund industry would take longer than they expected, people familiar with the matter said.
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Source: wsj.com
Chinese Stocks Slide, With a Major Index in Correction Territory
March 8, 2021--CSI 300 benchmark has fallen 12.5% from a recent peak in February
China's main stock benchmarks tumbled, erasing all of this year's gains, as investors grappled with signs that policy makers in Beijing will take more action to rein in debt and prevent asset bubbles from forming.
The CSI 300-an index of the 300 largest stocks listed in mainland China-fell 3.5% Monday while the Shanghai Composite Index dropped 2.3%, hitting their lowest closing levels in 2021. The CSI 300 is now in correction territory, having declined more than 10% from a recent peak on Feb. 10, just before the start of the Lunar New Year holiday.
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Source: wsj.com
SET market report for February 2021
March 8, 2021-- The global stock exchanges in February 2021 faced volatility from bond yield spike that hit the 12-month high, reflecting an anxiety in revising inflation forecast that could cause major central banks in many countries to temper monetary policy easing sooner than previously expected.
The Stock Exchange of Thailand (SET) Index fared well on the heels of the
global economic rebound and optimism on recovery in service and tourism sectors
following the domestic vaccination rollout.
SET Senior Executive Vice President Soraphol Tulayasathien said the SET Index gained 2.0 percent from the previous month to 1,496.78 points at end-February, buoyed by a pickup in the world economy coupled with optimism after Thailand begun importing vaccine. The Market for Alternative Investment (mai) Index logged its closing high during the month-end in two years of 379.07, or a 6.4 percent increase from a month ago in February. Comparing with year-end performance, Agro & Food Industry, Financials, Industrials and Services industry groups outperformed SET Index.
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Source: The Stock Exchange of Thailand (SET)
China GDP: economic growth target of 'above 6 per cent' for 2021 confirmed by Premier Li Keqiang
March 5, 2021--China set an economic growth target of 'above 6 per cent' for 2021, Premier Li Keqiang confirmed at the National People's Congress (NPC) on Friday in Beijing
China has set a target of creating 11 million new urban jobs, while the target for consumer price index (CPI) growth is around 3 per cent
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Source: scmp.com
Harvest in Hong Kong to list China ESG ETF
March 4, 2021--The ETF should provide investors exposure to the top 100 high quality listed Chinese companies.
March 4, 2021--Harvest Global Investments, the wholly-owned subsidiary of Beijing-headquartered Harvest Fund Management, will be listing its first ESG ETF in Hong Kong on 10 March, according to a statement from the firm.
The Harvest CSI 300 ESG Leaders Index ETF has also been added on Hong Kong's Securities and Futures Commission's (SFC) list of ESG-approved funds, which include products that meet ESG disclosure requirements aimed at countering greenwashing, according to SFC records.
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Source: fundselectorasia.com
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