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Hong Kong Mercantile Exchange Successfully Launched - The World's Fastest Commodity Exchange Now Fully Operational
May 19, 2011--The world's fastest commodity exchange now fully operational
The Hong Kong Mercantile Exchange (HKMEx) has been succesfully launched as an automated trading services (ATS) provider. The trading debut took place on May 18, 2011 with trading, post-trade and surveillance technology provided by Cinnober.
HKMEx offers market participants, through its member firms, an electronic platform to trade commodities. The Exchange began trading with 18 members, including some of the world's largest financial institutions and trading firms as well as several well-established Hong Kong brokerages.
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Source: Reuters
Chinese set new standard in buying gold
May 19, 2011--China overtook India to become the largest market for gold bars and coins in the first quarter of this year, as rising inflation inspired a surge in bullion investment.
Chinese investors bought 93.5 tonnes of gold between January and March in the form of coins, bars and medallions, a 55 per cent increase from the previous quarter and more than double the level of a year earlier, according to data released by the World Gold Council on Thursday
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Source: FT.com
Arirang KRX100EW ETF and K100EW ETF To Be Listed on the Korea Exchange
May 17, 2011--The Korea Exchange (KRX) is going to list two ETFs, Arirang KRX100EW ETF and Arirang K100EW ETF, on May 18, 2011.
The underlying index of Arirang KRX100EW ETF is the equal weighted version of KOSPI 100 and that of K100EW ETF is the equal weighted version of KRX 100, which are calculated by weighting all index constituents equally.
KRX listed total 28 ETFs this year alone, and two additional ETFs would increase the total number of ETFs to 94.
Source: KRX
Osaka Securities Exchange To Begin Publishing "Indicative Net Asset Value" And "Portfolio Composition File" For ETFs
May 17, 2011--OSE will begin publishing Indicative Net Asset Value(Indicative NAV1) and Portfolio Composition File(PCF) per ETF for improve ETF investor convenience by August 2011.
1 An object of ETF
ETF sponsors will provide ETF detail data to OSE of investment in domestic stocks and domestic commodities ETF
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Source: Osake Stock Exchange (OSE)
Changes of Designated Securities for Short Selling
May 17, 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 24 May 2011 (Tuesday), 65 additional securities will be eligible for short selling and 18 existing designated securities will be removed from the list. The total number of designated securities for short selling will be 749 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: HKEx
Vanguard expands ETF range, cuts fees
May 16, 2011--Vanguard has added three exchange-traded funds (ETFs) to its existing offering of four ETF products, and has also significantly decreased the management fees on its two existing Australian ETFs.
The new products include a high-yield ETF based on the FTSE ASFA Australian high dividend yield index, which contains a basket of around 60 stocks, with an annual fee of 25 basis points.
The firm also announced a large cap ETF based on the MSCI Australian large cap index which covers the top 70 per cent market capitalisation of the Australian share market
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Source: Money Management
Nikkei 225 hits lowest level in a month
May 16, 2011--Tokyo's Nikkei 225 fell to its lowest level in a month on Monday, after Goldman Sachs cut its recommendation on Japanese stocks from "market weight" to "underweight".
The move chimed with a sustained bout of risk aversion as investors continued to assess the potential impact on utility stocks and banks of the government’s plans to tap the sectors to support compensation costs faced by Tokyo Electric Power after the Fukushima nuclear crisis.
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Source: FT.com
TSE to Begin Calculating and Publishing "TOPIX Risk Control Index"
May 16, 2011--The Tokyo Stock Exchange begins calculating and publishing the TOPIX Risk Control Index to satisfy the market demands of tracking the return of a strategy that applies dynamic exposure to an underlying index in an attempt to control the level of volatility.
The TOPIX Risk Control Index consists of 5% volatility, 10% volatility and 15% volatility.
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Source: TSE
SSE to Introduce Cross-border ETFs This Year
Debut of Hong Kong share ETFs is drawing near as regulators, bourses and industry representatives from China's mainland and Hong Kong gathered in Hong Kong on May 13 for a seminar on cross-border products cooperation and development.
Cross-border ETFs may adopt "T+2" settlement.
May 15, 2011--Both capital markets in China's mainland and Hong Kong are facing hard-won development opportunities, and both the Shanghai Stock Exchange (SSE) and Hong Kong Exchanges & Clearing Ltd. (HKEx) bear the tasks and missions of better serving China's economic growth according to the newly released "12th Five-year" Plan.
Moreover, the progression of RMB globalization is rejuvenating the two capital markets. Under this circumstance, the above two bourses must join hands to share the development opportunities, SSE President Zhang Yujun said.
"We have reached a consensus on the cross-listing of index products, and expect more cross-listed products including ETFs and closer cooperation in the future." Zhang added.
As to the regulations on dual listing of ETFs, Secretary K C Chan for Financial Services and the Treasury Bureau said that relevant regulations had been basically in place after the 6th and 7th supplementary agreements on CEPA were signed between China's mainland and Hong Kong. HKEx Chairman Ronald Arculli pointed out that thanks to the current high demand for ETFs and index products on the Asian market, the SSE and HKEx may make closer cooperation in ETFs, especially cross-listing of index products, in the days to come.
In terms of the launch timetable, SSE Vice President Liu Xiaodong said that cross-border ETFs are just a few months away. Director Zhao Xiaoping of the SSE Products Development Department unveiled that ETF would make its debut before the end of 2011 as no obstacle is seen at present. Considering the "T+2" settlement adopted for HK ETFs, the first cross-border ETFs will follow suit.
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Source:Shanghai Securities News
Mongolia: Financial System Stability Assessment-IMF Country Report
May 13, 2011-EXECUTIVE SUMMARY
Financial stability has been re-established but it is still delicate.
Mongolia is currently enjoying a vigorous economic recovery. The 2009 Stand-by Arrangement has been successful in restoring economic and financial stability. Economic
growth is expected to surpass 10 percent this year and the extreme pressures that the financial
system faced during 2008-09 have eased. The authorities are making progress in
restructuring the banking sector. Two state-owned banks were placed under conservatorship and will eventually be sold to strategic investors.
Nevertheless, challenges remain. The banking system is heavily exposed to credit and market risks and the quality of bank capital is weak. Further efforts are needed to strengthen
supervision and regulation—in particular, stricter enforcement of prudential rules, regular stress testing, developing a crisis management plan and conducting consolidated supervision would help enhance the resilience of the banking sector.
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Source: IMF
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