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DB Global Equity Index & ETF Research: Asia Pacific ETP Market Weekly Review
December 21, 2010--Market Overview
There are 252 equity-based ETFs in the Asia Pacific region with 348 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.29% of the whole market, whilst China has the largest market share by turnover with 36.14%.
There were two new listings last week. BetaShares Capital Ltd launched two ETFs on the Australian Securities Exchange tracking the S&P/ASX 200 Financials x-A-REIT Index and S&P/ASX 200 Resources Index, respectively. These two new funds are the first synthetic ETFs in Australia. (See page 2 for further details).
Turnover
Monthly average daily turnover declined 18.3% in the last week. Turnover for the previous week was USD 1,129m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 200m accounting for 17.8% of total turnover.
Assets Under Management
AUM remained at about the same level in the previous week. AUM as of December 17th was USD 75.1 bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 7.8bn.
To request a copy of the report
Source: DB Global Equity Index & ETF Research
Bank of Japan holds rate steady, continues easing measures
December 21, 2010-- Japan's central bank on Tuesday kept its key rate unchanged and said it would assess the impact of earlier measures to boost the faltering economy amid fears of a looming slowdown.
The bank's board made the unanimous decision to keep the key rate at between zero and 0.1% after a two-day meeting, warning that a fragile recovery from deep recession was "pausing".
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Source: FIN24
NASDAQ OMX Appoints Nelson Griggs as Senior Vice President and Head of Asia Pacific for the Global Corporate Client Group
December 21, 2010--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) appointed Nelson Griggs as Senior Vice President and Head of Asia Pacific for the Global Corporate Client Group. Mr. Griggs will head Asia Pacific listing efforts for NASDAQ OMX effective immediately. He will be based in Hong Kong and he will report to Bruce Aust, Executive Vice President of Global Corporate Client Group.
"Nelson's high-energy, focus and ability to attract and ultimately win clients make him an ideal candidate to head up this important region for NASDAQ OMX where we are especially focused on the growing IPO market in China," said Bruce Aust, Executive President of NASDAQ OMX.
Nelson has been with NASDAQ OMX for over 10 years. Throughout his tenure he has played a crucial role in managing efforts to deliver the benefits of the exchange's superior market structure and value-added services to prospective listed companies. Most recently, he was Vice President of New Listings in the Global Corporate Client Group where he led the team responsible for many of the high-profile company switches to NASDAQ from the NYSE, representing over $330 billion in market capitalization. Mr. Griggs also led the team in Canada supporting existing companies, new listings and product sales. Previously, he was a Managing Director in NASDAQ's Global Corporate Client Group and he worked for Fidelity Investments. Nelson graduated from Denison University in Granville, Ohio.
Source: NASDAQ OMX
FSA publishes English translation of Annual Supervisory Policies for Regional Financial Institutions for Program Year 2010
December 20, 2010--The FSA published today an English translation of Annual Supervisory Policies for Regional Financial Institutions for Program Year 2010.
view the Composition of Supervisory Policies (Regional Financial Institutions)
view the Annual Supervisory Policies for Regional Financial Institutions for Program Year 2010
Source: FSA.go.jp
FSA publishes English translation of Annual Supervisory Policies for Major Banks for Program Year 2010
December 20, 2010--FSA publishes English translation of Annual Supervisory Policies for Major Banks for Program Year 2010
view Composition of Supervisory Policies (Major Banks)
view the Annual Supervisory Policies for Major Banks for Program Year 2010
Source: FSA.go.jp
HKEx Publishes Market Statistics in Response to Media Requests
December 20, 2010--In response to requests from some news organisations which are preparing their year-end reviews, Hong Kong Exchanges and Clearing Limited (HKEx) published today (Monday) a set of market statistics for 2010 (up to 15 December) on its website.
view HKEx Market Statistics 2010
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
BetaShares appoints RBC Dexia to service Australian-based Exchange Traded Funds
December 20, 2010--RBC Dexia Investor Services today announced that it has been appointed by BetaShares Capital Limited (BetaShares) to provide custody and fund administration for their initial range of Exchange Traded Funds (ETFs) to be listed on the Australian Securities Exchange. The funds will
be serviced out of Sydney, Australia.
From the development stage to the launch of our initial products, RBC Dexia’s consultative approach and flexibility in their operating model were a complement to our team here at BetaSharesand the main driver to their selection to service our exchange traded funds,” said Alex Vynokur,
Managing Director of BetaShares “We look forward to growing our relationship with RBC Dexia as we
continue to develop and introduce new products to the Australian ETF marketplace.”
Similar to other global markets, the appetite for Australian ETFs has grown substantially in the past year.
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Source: RBC Dexia
Japan’s Quest for Growth: Exploring the Role of Capital and Innovation-IMF Working Paper
December 17 2010--Summary: As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R&D spending by Japanese firms.
The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish.
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Source: IMF
Inflation is under control, says Chinese regulator
December 17, 2010--China is unlikely to face runaway price rises next year and Beijing has already had some success in reining in inflation, according to the country’s top banking regulator.
Analysts said Liu Mingkang’s remarks reflected Beijing’s official inflation forecast and helped explain why the government has not yet moved to raise interest rates, in spite of persistent and accelerating price rises in recent months.
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Source: FT.com
HKEx Publishes Consultation Paper on Review of the Code on Corporate Governance Practices and Associated Listing Rules
December 17, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) published a consultation paper today (Friday) on proposed changes to the Code on Corporate Governance Practices (the Code) and certain Listing Rules relating to corporate governance.
“This consultation paper is part of our ongoing initiative to promote the development of higher corporate governance standards. Our proposed changes are also generally in line with international best practice,” said Mark Dickens, HKEx’s Head of Listing. “We also propose revising some Listing Rules that may be impractical or burdensome to the market or may not meet their intended corporate governance purpose.”
The Code was introduced in January 2005. Since then, market conditions locally and overseas have changed, and HKEx believes an update to the Code and the related Rules is warranted.
Under the proposals, some Code Provisions (CPs) have been promoted to Rules because of their importance and many Recommended Best Practices (RPBs) have been upgraded to CPs. While issuers are required to abide by the Rules, they continue to have the flexibility to comply with the CPs. If issuers decide not to adopt a CP, they must explain the reasons for the decision in their corporate governance report. For RBPs, issuers are encouraged, but not required, to state whether they have adopted them.
view the Consultation Paper on Review Of the Code On Corporate Governance Practices and Associated Listing Rules
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
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