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Nikkei Hits Two-Week High on Weaker Yen, Fund Inflows
March 31, 2011--Japan's Nikkei stock average climbed 2.6 percent, hitting its highest level since a post-quake panic sell-off as the yen softened against the dollar, but investors said the gains may be short-lived as bargain-hunting by foreigners peters out.
Market players also said the Bank of Japan's purchases of exchange-traded funds under an asset purchase programme adopted to bolster the economy was lending some support to the market ahead of the business year-end on Thursday.
Source: Reuters
Destimoney launches Gold Reserve Fund
March 31, 2011--Now, you have yet another option to invest in gold.
Destimony Securities has launched Gold Reserve Fund, a portfolio management services product, investing in gold.
The scheme will invest in gold exchange-traded funds of all Sebi-approved mutual funds, along with capital protection.
Being a PMS product, its tenure is 60 months and the minimum amount required is Rs. 5 lakh.
On maturity, the fund will deliver higher of - the highest account value reached in 41 months, or 105 per cent of the invested amount..
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Source: India Business News
Rate differentials curb yen
March 30, 2011--The yen hit a 10-month low against the euro and lost ground across the board as interest rate differentials moved against the Japanese currency.
Whereas authorities in Tokyo are expected to keep monetary policy loose to deal with the effects of the earthquake that hit the country this month, markets are expecting central banks in Europe and the US to begin tightening policy.
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Source: FT.com
China to build cotton reserve to encourage output
March 30, 2011--China plans to rebuild a cotton reserve this year to help encourage domestic production as farmers fret that prices could tumble from historic highs.
China is the world’s top producer of cotton, but a strong local textile industry also makes the country the largest cotton consumer and importer. Demand from Chinese mills played a key role in driving New York cotton prices to a record $2.27 a pound this month, up 175 per cent over the last year
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Source: FT.com
State Street adds to ETF stable
March 30, 2011--Continued growth in local demand for ETFs has prompted State Street Global Advisers (SSgA) to add a further three products to its SPDR ETF range.
In April, State Street will launch a new ETF focusing on resources, one on financials and a third tracking less mature, small cap companies, targeting higher growth and returns.
"The new SPDR funds will offer more precise exposure to two of the market's dominant segments, while small caps are an acknowledged growth sector," said Rob Goodlad, senior managing director, SSgA, Australia.
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Source: Standard online
Revised Components and Weight Percentage of Nikkei-TOCOM Commodity Index
March 30, 2011--Tokyo Commodity Exchange, Inc. (“TOCOM” or the “Exchange”) today announced the revised components and weight percentages of the Nikkei-TOCOM Commodity Index to take effect on June 1, 2011.
Please note that Gas Oil, Chukyo-Gasoline and Chukyo-Kerosene will not be added as components of the Nikkei-TOCOM Commodity Index, due to the current trading environment, etc.
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Source: TOCOM
USD Futures Inverse ETF To Be Listed On The Korea Exchange
March 30, 2011--KOSEF USD Futures Inverse ETF, which is designed in such a way that the net asset value moves inversely with the daily return of underlying asset, USD Futures, will be listed on April 1st, 2011 on the Korea Exchange (KRX).
Since the net asset value of this ETF increases when the value of Korean Won appreciates against US Dollar, when investing in the products exposed to risk of exchange rate volatility, this ETF can be used to effectively hedge against the exchange rate flunctuations.
KOSEF USD Futures Inverse ETF is the 11st ETF listed in 2011 and the total of 75 ETFs is now listed on the KRX.
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Source: KRX Korea Stock Exchange
TSE has released a REIT (Real Estate Investment Trust) Price Information List as part of the REIT information which it provides to investors.
March 29, 2011--TSE has released a REIT (Real Estate Investment Trust) Price Information List as part of the REIT information which it provides to investors.
The REIT Price Information List contains the current price*, net change, market capitalization, forecast of dividend for current term, and forecast of annualized dividend yield for every REIT listed on the TSE market.
In addition, information related to financial information, quotes, and charts can be viewed by clicking on a specific issue’s name on the Price Information List.
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Source: Tokyo Stock Exchange
Publication of Disclosure System Working Group Report "Expansion of Scope of English-Language Disclosures System" and "Development of Legal System for Rights Offering in Japan"
March 25, 2011--Towards achieving the New Growth Strategy (June 18, 2010 Cabinet Decision) and the Action Plan for the New Growth Strategy (published on December 24, 2010) , the Financial Services Agency of Japan set up the Disclosure System Working Group (chaired by Prof. Etsuro Kuronuma, Waseda University).
The aim of setting up this working group is to study from expert and technical viewpoints the expansion of scope of English-language disclosure system and the development of legal system for rights offering, which are both included in the Action Plan.
The Disclosure System Working Group has deliberated four times in total since November 2010 with regard to these matters.
Based on these deliberations, the working group published reports entitled “Expansion of Scope of English-Language Disclosures System” and “Development of Legal System for Rights Offering in Japan” on December 17th 2010 and January 19th 2011, respectively.
Expansion of Scope of English-Language Disclosures System
Development of Legal System for Rights Offering in Japan
Source: FSA.go.jp
State Street Global Advisors (Japan) Co., Ltd. and Tokyo Stock Exchange, Inc. announce SPDR(R) S&P500(R) Exchange Traded Fund in Tokyo
March 24, 2011--State Street Global Advisors (Japan) Co., Ltd. (SSgA Japan) and Tokyo Stock Exchange, Inc. (TSE) today announced that the SPDR® S&P500® Exchange Traded Fund (ETF) (code: 1557) began trading on the TSE on Thursday, March 24th. The first ETF in the world and created in 1993, the original SPDR ETF is the world's largest ETF by net asset value. The fund is currently listed on the NYSE Arca and the Singapore Exchange.
The underlying S&P500® index consists of 500 large-cap equities listed on NYSE and NASDAQ and accounts for approximately two-thirds of the market capitalization in the US. The index is also a component of the leading economic indicators released by the United States Department of Commerce.
Mr. Koji Yamamoto, President and Representative Director of SSgA Japan said "We are hopeful that the cross-listing of the original SPDR ETF on the TSE will further increase awareness of ETFs in the investment community and create new opportunities for Japanese investors."
Mr. Atsushi Saito, President and CEO of the TSE, commented "We are very proud to be listing the SPDR® S&P®500 ETF on the Tokyo Stock Exchange. As part of the TSE's continued effort to invigorate the ETF market in Japan, we are optimistic that the listing of the industry's first ETF, the SPDR®S&P®500 ETF, will further boost the Tokyo market."
Source: TSE
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