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Money Managers in China Brew Own Hedge Fund Industry
April 15, 2011--China is taking baby steps to develop its hedge fund industry as domestic money managers rush to roll out products armed with the country's one-year-old derivatives market, creating a fertile ground for its own version of industry legends George Soros or John Paulson.
More hedging tools and growing demand from its nearly half a million millionaires will fuel China's home-grown hedge funds, boosting the prospects for the $380 billion asset management industry in the world's second largest economy, home to the second highest number of the rich in Asia.
Source: Reuters
China grows by 9.7%, inflation heating up
April 15, 2011--China said on Friday its economy grew at a robust but slightly slower pace in the first quarter of 2011 while inflation accelerated despite efforts to rein in soaring food and property prices.
Gross domestic product in the world's second-largest economy expanded by 9.7% on year in the first three months of the year, the National Bureau of Statistics said -- beating Dow Jones Newswires' estimate of 9.5%.
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Source: FIN24
HSBC marks Asia-Pacific ETF foray with Greater China funds launch
April 14, 2011--HSBC marked its foray into the Asian exchange traded funds market with the launch of a series of Greater China-focused funds, pitting itself against established players such as Blackrock and State Street Global Advisors.
Europe's largest lender, HSBC Holdings Plc , which has a significant presence in emerging markets, said in a statement that it would offer investors funds that track MSCI indexes in China, Hong Kong and Taiwan.
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Source: Reuters
Korean stocks outshine lacklustre Asia-Pacific
April 14, 2011--Seoul bucked the flat-to-lower trend across much of the Asia-Pacific region, taking the Kospi Composite index of South Korean stocks to a fresh closing high.
The Kospi index rose 0.9 per cent to 2,141.06, in spite of suffering an early sell-off related to options expiries. Its performance helped lift the FTSE Asia Pacific index by 0.2 per cent to 263.81.
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Source: FT.com
China's foreign reserves soar
April 14, 2011--China's foreign reserves have surged past $3 trillion, driven by currency controls that Washington and other governments complain are distorting trade and hampering a global recovery.
Chinese reserves, by far the world's biggest, soared 24.4% over a year ago to $3.04 trillion at the end of March, the central bank reported Thursday.
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Source: FIN24
Tokyo Stock Exchange: Two New ETFs To Be Listed
April 14, 2011--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the following two ETFs managed by Nikko Asset Management Co., Ltd.
| Code | 1554 (ISIN JP3047330000) | 1555 (ISIN JP3047340009) |
| Name | Listed Index Fund World Equity (MSCI ACWI) ex Japan | Listed Index Fund Australian REIT (S&P/ASX200 A-REIT) |
| Listing Date | March 8, 2011 | March 9, 2011 |
| Trading Unit | 10 units | 10 units |
| Underlying Index | MSCI ACWI ex Japan | S&P/ASX200 A-REIT |
With these listings, there will be a total of 99 ETFs listed on the Tokyo market, bringing us closer to the goal of 100 listed ETFs by the end of fiscal year 2010, as laid out in the Medium-Term Management Plan. TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors.
Source: Tokyo Stock Exchange, Inc. (TSE)
China willing to buy more Spanish debt: Wen
April 13, 2011--Chinese Premier Wen Jiabao told Spain's visiting prime minister Tuesday that Beijing is ready to buy more Spanish public debt, voicing confidence in Europe's recovery.
Prime Minister Jose Luis Rodriguez Zapatero, who will also visit Singapore, is seeking new investments to shore up Spain's economy as it tries to avoid a crisis in refinancing and raising new debt.
The European Union and the International Monetary Fund bailed out Ireland and Greece last year and have now offered to help Portugal. Spain's economy is as large as that of Ireland, Greece and Portugal combined.
"China is willing to continue to buy the national debt of Spain," Wen said in comments released by the foreign ministry
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Source: EUbusiness
New FTSE Value-Stocks Japan Index extends Value Partners unique investment approach to Japan
April 12, 2011--FTSE Group (FTSE), the award-winning global index provider and Value Partners Index Services Limited (Value Partners), a wholly-owned subsidiary of Value Partners Group, today launched the FTSE Value-Stocks Japan Index. The customised index builds on the success of previous indices for China, China A-Shares, Taiwan and Korea, offering a new and unique approach to investment opportunities in Japan.
The new index is based on Value Partners’ distinct value-investing methodology, and is calculated and maintained by FTSE’s dedicated custom index solutions team. The index captures the performance of liquid value stocks selected from the investable universe of companies listed on the Tokyo and Osaka stock exchanges. Value Partners’ proprietary value-based screening approach seeks to extract superior performance within a range of market conditions, relative to a traditional market-cap weighted index.
The FTSE Value-Stocks Japan Index is the latest in a growing family of proprietary value-based indices. To date, the index series covers the Taiwan, Korea and China A-Share markets.
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Source: FTSE
ETFs pick up pace in Asia
April 11, 2011-- Asia's appetite for exchange traded funds (ETFs) is growing, according to BlackRock.
The US fund manager said it is seeing more interest from Asian investors as product knowledge about ETFs become more accessible.
Asian investors, it seems, are becoming more familiar with ETFs as an investment tool.
Excluding Japan, Asia's share of assets under management (AUM ) in ETFs globally has more than quadrupled at 4.6 times since 2001.
AUM in ETFs in Asia grew by 38.4 per cent in 2010 to US$$53.3 billion, outpacing global ETF growth rates at 26.5 per cent to US$1.31 trillion.
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Source: ChanelnewsAsia
Australia confirms rejection of SGX-ASX deal
April 8, 2011--Canberra formally rejected Singapore Exchange's A$8.4bn (US$8.8bn) bid for its Australian rival, ruling that the takeover could undermine Australia’s position as a financial centre as well as jeopardise the stability of the country’s financial system.
In a forthright repudiation of the deal’s merits, Wayne Swan, the country’s treasurer, on Friday told reporters it was a “no brainer” that SGX’s bid was not in Australia’s national interest, and highlighted the “critically important” clearing and settlement functions operated by the Australian Securities Exchange.
Source: FT.com
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