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Partial Revision to Listing Regulations to Support Recovery of Corporations and Regions Affected by the Earthquake
April 28, 2011--I. Purpose
The Great East Japan Earthquake and subsequent tsunami along the coast of the Tohoku region caused extensive human and material damage, in addition to significantly affecting corporate activities and performance both in the afflicted regions and the surrounding areas. Widespread infrastructure problems and damaged supply chains have destabilized production, raising concerns of national economic stagnation and a loss of international competitiveness.
Tokyo Stock Exchange (hereinafter "TSE"), as the central market of Japan, is dedicated to supporting the recovery of the affected companies and regions and contributing to the revitalization of the Japanese economy. TSE will implement measures in the listing regulations which will enable flexible handling of companies whose business was impaired by the disaster such as introducing special regulations which take into account the effect of the earthquake. In conjunction with this revision, TSE will also consider the effect of the earthquake in its listing compliance and initial listing operations.
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Source: Tokyo Stock Exchange
Thai Bourse To Trades Silver Futures On June 20 And To Extends Hours In Gold & Silver Futures
April 28, 2011-On June 20, the Thailand Futures Exchange PLC (TFEX), part of The Stock Exchange of Thailand, will begin trading silver futures and extend gold and silver futures trading until 22.30 hours.
“TFEX will complete the joint system test with its members within May and hold seminars from May through July, featuring expert lecturers from overseas and TFEX members, to enhance investors’ knowledge on silver futures trading,” revealed TFEX Managing Director Kesara Manchusree.
Silver futures uses 99.9% pure silver as its underlying asset, which is a standard purity level for trading in the international markets. The contract size is set at 100 troy ounces (approx. 3 kgs.), worth around THB140,000 (approx. USD4,600). The silver futures settlement method will be cash settlement, using the London Silver Fixing Price as the reference price.
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Source: Thaiprnet
Tokyo Stock Exchange: ETF Trading Fees Will Be Donated To The Great East Japan Earthquake - ETF Trading To Aid Recovery
April 28, 2011--Tokyo Stock Exchange Group, Inc. (hereafter "TSE Group") will donate an amount equivalent to the trading fees paid to Tokyo Stock Exchange, Inc. (hereinafter "TSE") for trading in ETFs(*1) and ETNs(*2) in support of recovery from the Great East Japan Earthquake. This decision was made after consideration of measures to allow market participants to contribute to the recovery efforts through the market.
TSE Group has already made a donation to recovery efforts and flexible application of listing rules are currently being implemented for disaster-affected listed companies as well as prospective listed companies. In addition to these independent efforts, as a market operator, TSE Group has examined ways to involve market participants in our contribution to the recovery.
ETFs are simple products with price movement that is easy to understand, have the effect of diversifying an investment portfolio, and can be traded easily with small amounts of funds by a wide variety of investors, from those new to investment to professional investors. Furthermore, thanks to the efforts of many ETF providers, etc., the product lineup on the TSE ETF market reached the landmark of 100 listed issues in the last fiscal year and continues to grow today. TSE decided to donate the amount equivalent to the trading fee from ETF trading during the period from April through September 2011 in our continued efforts to aid recovery. This will enable TSE to do our part in a combined effort together with a broad spectrum of market users including investors. In addition, the trading fees from ETN trading will also be donated after the listing framework and system for ETNs has been established.
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Source: Tokyo Stock Exchange
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.
Source: KRX
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
Source: IMF
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.
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Source: FT.com
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
Source: World Bank
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.
read more South Korea's economy grows 1.4 percent in 1st quarter read more NSE'' gold ETF turnover more than doubles in 2010-11
Gold ETFs, where returns are linked to the domestic price of physical gold but spare the investors from the trouble of buying and keeping the yellow metal in physical form, have been gaining ground among investors in past few years. read more
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Source: FT.com
April 26, 2011--South Korea's economic growth rate accelerated sharply in the first quarter on strength in exports and manufacturing, though high inflation for food and gasoline weighed on consumer spending.
Gross domestic product expanded 1.4 percent in the three months ended March 31, the Bank of Korea said. That compares with growth of 0.5 percent in the final three months of last year. The figure narrowly missed the bank's own forecast of a 1.5 percent expansion. The result marked the ninth straight quarter of growth for South Korea, which has enjoyed a vibrant recovery from the global economic downturn, though like neighboring China and some other countries is battling inflation that in March hit its highest level in more than 2.5 years on higher prices for food and gasoline. The BOK has raised its key interest rate four times since July to try and curb rising prices.
Source: Todays Zaman
April 24, 2011--Riding high on growing demand for gold investment, the country''s top bourse NSE saw the turnover more than doubling for gold ETFs in last fiscal, which allow investors to buy and sell the yellow metal in electronic form.
Their total traded value of gold ETFs (Exchange Traded Funds) on NSE surged to Rs 4,074.30 crore in fiscal year 2010-11 ended March 31, as against Rs 1842.36 crore in the previous year.
Source: Yahoo News India
