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KOSPI 100-based ETF To Be Listed In The Korea Exchange
April 28, 2011--The Korea Exchange is going to list KYOBO AXA Power K100 ETF on May 3, 2011, which tracks an underlying index of the KOSPI 100. The ETF will be the first ETF based on the KOSPI 100 index that is composed of the top 100 stocks in terms of market capitalization in the KOSPI Market.
The asset under management(AUM) of the new ETF is KRW 191.1billion and its estimated base price is KRW 21,520 per unit.
KYOBO AXA INVESTMENT MANAGERS Co. is the 14th asset management company making inroads into the Korean ETF market.
The KRX has total 28 newly listed ETFs this year, which increases the total listed number of ETFs to 92.
Asia Remains World’s Most Dynamic Region, Although Pockets of Overheating Pose Risks
April 28, 2011--In Asia both exports and domestic demand are fueling rapid economic growth, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific, which was released in Hong Kong SAR, People’s Republic of China.
Economic growth in the Asia and Pacific region is expected to remain robust this year and next, Mr. Anoop Singh, Director of the IMF’s Asia & Pacific department said, noting that growth is expected to be close to 7 percent in 2011 and 2012, as the region continues to lead the global recovery. The output gap is closing in much of emerging Asia, where growth is expected to reach around 8 percent, led by China and India. For Hong Kong SAR, growth in 2011 is expected to be close to 5.5 percent.
The earthquake-related tragedy in Japan in mid-March caused terrible losses of life and property. The government’s response helped to contain the economic impact, and spillovers to activity in the rest of Asia should be limited. The situation is, however, still uncertain.
view the Regional Economic Outlook: Asia and Pacific
Managing the Next Phase of Growth
report
Asian currencies expose cracks in dollar peg
April 28, 2011--A milestone of sorts was reached this month when the dollar hit a multiyear low on a trade-weighted basis and set record lows against Asian currencies, led by the Singapore dollar.
The drop in the dollar was especially remarkable because it took place against a backdrop of geopolitical uncertainty, which usually triggers a flight to haven currencies – which in the past would have meant a rush to the dollar. Meanwhile, the currency of the special administrative region of Hong Kong moved not at all.
China’s Economic Outlook Remains Favorable, but Further Macro Policy Normalization is Needed
April 27, 2011--China's economic outlook remains broadly favorable with real GDP growth projected at 9.3 percent in 2011 and 8.7 percent in 2012, but risks on inflation and the property market call for full normalization of the macroeconomic stance to keep growth on track, according to the World Bank's latest China Quarterly Update released today
“Headwind from a normalized macroeconomic stance, inflation, and somewhat slower global growth is likely to be partly offset by solid corporate investment and a still robust labor market,” says Ardo Hansson, Lead Economist for China. “In all, with a broadly neutral contribution of net trade, we now project China’s real GDP growth at 9.3 percent in 2011 and 8.7 percent in 2012.”
The Update, a regular assessment of China’s economy, finds that both fiscal and monetary policy contributed to the tightening of macroeconomic policy after the massive stimulus during the global financial crisis. Consumption growth slowed in early 2011. But overall domestic demand held up well, supported by still strong investment growth. Real estate investment has so far remained robust due to measures to contain housing prices—a policy focus. Reducing inflation is the other policy priority, after inflation rose to 5.4 percent, largely on higher food prices.
view the World Bank China Quarterly Update - April 2011
HK commodities exchange to debut with gold
April 27, 2011--A Hong Kong-based commodities exchange backed by Chinese state companies and Russian billionaire Oleg Deripaska plans to make its trading debut next month with a futures contract linked to gold.
The Hong Kong Mercantile Exchange is betting that the shift in financial gravity from west to east will allow it to challenge the dominance of London, Chicago and New York in global commodities markets.
