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3 New ETFs launched by Nikko Asset Management
October 29, 2010--Nikko Asset Management has launched three new ETFs which began trading. With the addition of these three ETFs, Nikko AM has now a total of 17 ETFs in its line-up.
The Listed Index Fund US Equity tracks the S&P 500 index. It is the first S&P 500-linked ETF listed on a stock exchange in Japan.
The Listed Index Fund China H-share is linked to mainland Chinese companies listed on the Hong Kong Stock Exchange. Just like investing directly in China A-shares, this ETF will allow investors to capture the movements of stock prices of mainland Chinese companies.
The Listed Index Fund S&P CNX Nifty Futures invests in futures contracts based on a popular Indian equity index.
Source: Asia Online
Assets under management at ETFs to continue 10% growth
October 28, 2010-Assets under management at exchange-traded funds (ETFs) have grown 10 per cent in Singapore this year, as investors look to bet on regional or global indices through these investment vehicles.
ETFs that rise or fall when an index goes up or down are cheaper than mutual funds because investors do not have to pay for a fund manager's expertise in picking stocks.
Analysts see this growth continuing at the same pace in the years ahead as awareness around ETFs grows.
And as Asia currently makes up only 10 per cent of the global US$1 trillion in assets in such funds, providers are ramping up their offerings.
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Source: Channel News Asia
DB Global Equity Index & ETF Research: Asia Pacific ETP Market Weekly Review
October 26, 2010--Market Overview
There are 240 equity based ETFs in the Asia Pacific region with 333 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.1% of the whole market, whilst China has the largest market share by turnover with 38.88%.
There was one new listing on the previous week. MAPS Investment Man Co launched a new Equity fund listed on the Korea Stock Exchange.
The objective of this new product is to track the performance of the stocks that compose Nasdaq 100.
Turnover
Monthly average daily turnover rose 10.2% in the last week. Turnover for the previous week was USD 1,204m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 252m accounting for 20.9% of total turnover.
Assets Under Management
AUM remained at about the same level as the previous week. AUM as of Oct 22nd was USD 77.7bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 10.4bn.
To request a copy of the report
Source: DB Global Equity Index & ETF Research
HKEx: Changes Of Designated Securities For Short Selling
October 25, 2010--The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announces that with effect from 29 October 2010 (Friday), 47 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 633 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: Stock Exchange of Hong Kong Limited
India warned over capital inflow risks
October 25, 2010--Economists are warning that New Delhi may be underestimating the risks of excessive capital inflows, as huge foreign portfolio investment into India has helped push both the stock market and the rupee to pre-crisis levels.
Since January, India’s equity and bond markets have attracted a record $33.8bn in foreign funds on the back of the country’s robust economy, which grew 8.8 per cent year-on-year in the second quarter. However, during the same period foreign direct investment – which tends to be more long-term than inflows into the stock market – dropped 35 per cent, down to Rs637bn ($14.4bn) from Rs976bn.
“India’s dependence on foreign capital to grow its economy is a limiting factor,” said Ridham Desai, India equity strategist for Morgan Stanley. “What seems more critical to us is the mix of capital flows, which still are skewed toward capital market sources rather than foreign direct investment.
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Source: FT.com
ASX and SGX combine to create the premier international exchange in Asia Pacific - the the heart of global growth
October 25, 2010--ASX Limited (ASX) and Singapore Exchange (SGX) today announced that they have entered into a merger implementation agreement to combine to enable customers globally to
capitalise on listing, trading, clearing and settlement opportunities created through the expanded platforms, leveraging on the importance of Asia Pacific as the driver of global growth.
This combination will bring together the complementary businesses of two successful exchanges in the Asian time zone, with internationally recognised regulatory standards. The combination leverages the strengths of ASX through its listings, stock options and fixed income franchises, with SGX, the Asian gateway for international listings, equity futures and OTC clearing, to create the region’s pre-eminent exchange group.
The combined group will augment Australia’s financial market and funds management industry through direct participation in Asian growth, and increase ASX’s and SGX’s competitiveness in a changing global markets landscape. As proven platforms for raising capital and managing price risk for the resource sector, ASX and SGX will build on existing distribution and clearing capabilities, and intend to play an important role in establishing price discovery for global commodities in Asia Pacific.
The combined exchange group, ASX-SGX Limited, will have pro forma revenues of approximately US$1.1 billion and pro forma earnings before interest and income tax of approximately US$700 million, based on the audited financial statements of ASX and SGX, each for the financial year ended 30 June 2010 (“FY2010”).
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Source: World Federation of Exchanges (WFE)
HKEx Announces Market Makers, Margin Rates and Information Vendors’ Access Codes for Dividend Futures
October 25, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) has announced market makers, margin rates and information vendors’ access codes for HSI Dividend Point Index Futures (HSI Dividend Futures) and HSCEI Dividend Point Index Futures (HSCEI Dividend Futures), which have received regulatory approval and will begin trading in HKEx’s derivatives market on Monday, 1 November 2010.
Market Makers
HKEx has appointed BNP Paribas Futures (Hong Kong) Ltd, Goldman Sachs Futures (Asia) Ltd and SG Securities (HK) Ltd as market makers for HSI Dividend Futures and HSCEI Dividend Futures to facilitate trading in the new contracts.
Market makers will be quoting prices continuously for at least 70 per cent of the time in a calendar month with a bid / offer spread of not more than 30 points or 10 per cent of the bid price for at least 50 contracts in all listed contract months, or responding to quote requests for at least 70 per cent of the total quote requests in a calendar month within 20 seconds, with a display of at least 10 seconds.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
SGX set to launch $6bn offer for ASX
October 22, 2010--SGX, the Singapore exchange, is preparing to launch a takeover offer of more than A$6bn ($5.8bn) for its Australian counterpart, ASX, as early as Monday in a deal that would combine two of Asia’s biggest exchange operators.
Shares in SGX and ASX were suspended from trading on Friday afternoon, with the Australian group adding it was in talks about a “possible business combination”.
ASX did not name the party that had “reactivated confidential discussions” but people close to the situation said Robert Elstone, ASX chief executive, had held merger talks with Magnus Böcker, his SGX counterpart. One of those people cautioned that SGX may hit delays and an offer may not materialise.
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Source: FT.com
FSA extends temporary measures regarding restrictions on short selling and purchase of own stocks by listed companies
October 22, 2010--1.The following regulatory measures on short selling are currently in place, with regard to all listed stocks in Japan:
1) An "uptick rule requirement" which prohibits, in principle, short selling at prices no higher than the latest market price;
2) Requirements for traders to verify and flag whether or not the transactions in question are short selling; and
3) Request the exchanges to make daily announcements on their aggregate price of short selling regarding all securities and aggregate price of short selling by sector (The announcements have been made sequentially since October 14, 2008). (See the FSA press release on October 14, 2008.)
In addition, the Financial Services Agency (FSA) has put in force the following measures, as temporary measures effective until October 31, 2010 (See the FSA press release on October 27, 2008. press release on March 27, 2009. press release on July 28, 2009. press release on October 23, 2009. press release on January 22, 2010. press release on April 23, 2010. press release on July 26, 2010.):
1) Naked short selling (short selling in which stocks are not borrowed at the time of selling) is prohibited (effective since October 30, 2008); and
2) Holders of a short position of a certain level or more (in principle, 0.25 percent or more of outstanding issued stocks) are required to report to exchanges through securities firms. Exchanges are required to publicly disclose such information (effective since November 7, 2008).
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Source: FSA.go.jp
DB Global Equity Index & ETF Research-- Asia-Pacific ETP Market Weekly Review
October 21, 2010--Market Overview
There are 239 equity based ETFs in the Asia Pacific region with 332 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 40.07% of the whole market, whilst Hong Kong has the largest market share by turnover with 35.39%).
There have been three new listing since October 1st, Samsung Investment Trust launched its third commodity ETP product and the second Gold tracker on the Korea Stock Exchange. Benchmark Asset Management listed a new Infrastructure sector fund, the first of its kind in the National Stock Exchange of India. And last but not least, Vanguard launched a new fund tracking Australian listed Property Securities. This new product, listed on the Australian Stock Exchange, carries Vanguard's low cost approach, and has been implemented as an additional share class of Vanguard's A$2 bn existing index fund, an approach widely used by the firm in the US. The new fund will charge 6 basis points less than its direct competitor, State Street's SPDR S&P/ASX 200 Listed Property Fund.
Turnover
Monthly average daily turnover rose 20.4% in the last week. Turnover for the previous week was USD 1,093m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 199m accounting for 18.2% of total turnover.
Assets Under Management
AUM rose 3.4% in the previous week. AUM as of Oct 15th was USD 78.3bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 10.4bn.
To request a copy of the report
Source: DB Global Equity Index & ETF Research
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