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BlackRock Hong Kong-listed ETF hit by heaviest outflows in 2020
March 4, 2021--The iShares FTSE A50 vehicle suffered net redemptions of $1.2bn despite A-share bull run
A BlackRock China-focused exchange traded fund suffered the heaviest outflows in Hong Kong last year, even as the wider ETF industry in the territory recorded its highest annual inflows in years.
BlackRock's iShares FTSE A50 China ETF recorded net redemptions of $1.17bn, followed by CSOP Asset Management's FTSE China A50 ETF, which saw redemptions of $897.8m.
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Source: FT.com
Indonesia Has an Opportunity to Boost Growth
March 3, 2021--After several years of strong growth, Indonesia's GDP fell 2.1 percent in 2020. While large, this downturn was smaller than other countries in the Asia-Pacific region, reflecting less stringent containment measures and lower dependence on highly impacted sectors like tourism.
The IMF's latest yearly assessment of Indonesia's economy shows the country has the firepower to boost its economic recovery. Appropriate reforms and policy actions can lead to a greener and more inclusive recovery.
Here are five charts on Indonesia's outlook.
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Source: IMF
Invesco launches China all shares ETF
Covers Chinese equities internally and externally listed
March 3, 2021--The MSCI China All Shares Stock Connect UCITS ETF will be available for an ongoing charges figure of 0.35% and covers equities listed in Hong Kong, Shanghai, Shenzhen and outside of China.
The MSCI China equity universe has been adjusted to provide a full weighting of China A shares, available through Stock Connect and all constituents are weighted by free-float-adjusted market capitalisation, rebalanced quarterly.
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Source: investmentweek.co.uk
IMF-Indonesia: Selected Issues
March 2, 2021--Indonesia has responded with a bold and comprehensive policy package to cushion the impact of the COVID-19 pandemic. The economy rebounded in the third quarter of 2020, and the economic recovery is projected to strengthen in 2021 and 2022.
Strong policy support and an improving global economy will be the main drivers initially, and greater mobility and confidence will follow with the planned vaccination program in 2021. The uncertainty surrounding the growth outlook is larger than usual.
Early completion of a widespread vaccination program is an upside risk, while a protracted pandemic remains a downside risk. The macro-financial fallout of the pandemic and economic downturn could be larger than expected, and credit conditions could be slow to improve. Ongoing reforms aimed at promoting investment are expected to help mitigate the scarring effects from the pandemic and put the economy on a sustained growth path that builds on Indonesia’s favorable demographics.
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Source: IMF
Hong Kong benchmark to expand to 100 as part of historic overhaul that reflects city's changing role as financial hub
March 1, 2021-The benchmark currently has 55 constituents, following the addition of three stocks after a regular quarterly review last week
Expansion viewed as improving Hang Seng Index's overall coverage and achieving better representation for each industry
Hang Seng Indexes, which compiles Hong Kong’s benchmark index, said on Monday that the number of constituent stocks of the Hang Seng Index will rise to 80 by mid 2022, before ultimately rising to 100.
The overhaul, the biggest in the index's 52-year history, reflects the changes in Hong Kong's role as a financial centre. The reforms follow the conclusion of a consultation period in January, which showed strong support for an increase in the number of constituent stocks, as this will improve the benchmark Hang Seng Index's overall coverage and achieve a more reasonable representation for each industry.
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Source: scmp.com
IMF Staff County Report-Vietnam: 2020 Article IV Consultation
March 1, 2021-Summary:
Successful containment of COVID-19 and strong policy support have helped contain the health and economic fallout, and a strong recovery is underway. Growth in 2020 reached 2.9 percent, among the highest in the world. However, labor market conditions remain weak. Corporate balance sheets have worsened, potentially hampering private investment and job prospects.
Banks entered the crisis in a stronger position than in previous years, but weaknesses remain. Vietnam's economy remains heavily reliant on external trade and is vulnerable to trade tensions.
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Source: IMF
Indxx Global Cloud Computing Index Licensed by BetaShares for an Exchange Traded Fund
February 25, 2021--Indxx is pleased to announce that the Indxx Global Cloud Computing Index has been licensed by leading Australian ETF Manager, BetaShares, as the underlying benchmark for the BetaShares Cloud Computing ETF (CLDD). CLDD has commenced trading on the Australian Securities Exchange (ASX).
This marks the third product globally tracking the Index, cumulatively these funds have over $1.85 billion in assets.
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Source: Indxx
Hong Kong's First Trading Tax Hike Since 1993 Pummels Stocks
February 23, 2021-HKEX shares sink 8.8% at the close, biggest loss since 2015
Mainland-based funds sell record $2.6 billion of city’s shares.
Hong Kong unveiled its first stamp-duty increase on stock trades since 1993, sparking a broad selloff in the $7.6 trillion market and sending shares of the city's exchange to their biggest plunge in more than five years.
The planned trading-tax increase to 0.13% from 0.10% was part of a raft of new measures announced in Hong Kong's budget that included increased spending to help residents weather the pandemic.
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Source: bloomberg.com
Divergent Recoveries in Asia: History is not Destiny
February 23, 2021--Asian economies are performing better than expected. In the IMF's latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent-in regional terms, a better outcome than other parts of the world.
This is largely driven by stronger-than-expected performance among advanced economies in the region, as well as some large emerging market economies such as China, India, Malaysia, and Thailand.
Growth outturns in the fourth quarter and higher-frequency economic indicators for industrial, trade, and retail activity point to a strengthening recovery. Output is projected to grow by 7.3 percent in 2021 and 5.3 percent in 2022 but, even if such a reality materializes, output losses from the pandemic will be significant nonetheless.
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Source: IMF
Greater Innovation Critical to Driving Sustained Economic Recovery in East Asia
February 23, 2021- Innovation is critical to productivity growth and economic progress in developing East Asia in a rapidly changing world, according to a new World Bank report launched today.
Countries in developing East Asia have an impressive record of sustained growth and poverty reduction.
But slowing productivity growth, uncertainties in global trade, and technological advances are increasing the need to transition to new and better modes of production to sustain economic performance.
To support policy makers in meeting this challenge, The Innovation Imperative for Developing East Asia examines the state of innovation in the region, analyzes the key constraints firms face in innovating, and lays out an agenda for action to spur innovation-led growth.
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Source: World Bank
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