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Oil near $75; demand eyed
February 16, 2010--Oil prices rose to near $75 a barrel on Tuesday in Asia as investors looked for signs of improving global crude demand amid light holiday trading.
Benchmark crude for March delivery was up 84c at $74.97 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. With markets closed on Monday in the US for the Presidents Day holiday, the contract last settled on Friday, falling $1.15 to $74.13.
Japan still world’s No. 2 economy
February 15, 2010--Japan held its title as the world’s second-biggest economy after fourth-quarter growth beat expectations and kept the country just ahead of a surging China.
Real gross domestic product grew at an annual pace of 4.6 percent in the October-December period, the government said Monday. The average forecast of 15 economists polled by The Associated Press was annualized growth of 3.4 percent. Japan’s nominal GDP for the 2009 calendar year came to about $5.1 trillion, topping China’s domestic output of $4.9 trillion.
Goldman Sachs Economist Sees China Revaluing Yuan
February 15, 2010--China could be about to allow its currency to strengthen by as much as 5 percent to slow down the country's fast-growing economy, Goldman Sachs' chief economist was quoted as saying on Sunday.
"I have a strong opinion that they're close to moving the exchange rate," Jim O'Neill told Bloomberg. "Something's brewing. It could happen anytime."
The news service said O'Neill believes China may allow the yuan to rise as much as 5 percent in a one-time revaluation and to then trade within a bigger band or against a larger basket of currencies.
Benchmark MF unveils Hang Seng BeES
February 15, 2010--Benchmark Mutual Fund has launched Hang Seng Benchmark Exchange Traded Scheme — an open-ended scheme tracking Hang Seng index.
“We have launched an Indian ETF proposed to be listed on the National Stock Exchange capital market segment to give international exposure. This open-ended scheme will provide domestic investors an exposure to companies that constitute the Hang Seng,” Benchmark Mutual Funds Executive Director, Rajan Mehta told reporters here. The new issue is open for subscription from February 15 and closes on February 24, 2010. Hang Seng Index was launched on November 24, 1969, and is one of the earliest stock market indices in Hong Kong. It is widely recognized as the barometer of the Hong Kong stock market.
China and India - the Asian gold-buying phenomenon
The ever growing purchasing power of the Chinese and Indian general populations throws bearish fundamental analyses of the gold market into disarray.
February 15, 2010--China and India are the world's two largest consumers of gold - and the former is the world's largest gold miner. To many the future path of the gold price is inextricably related to the world's two most highly populated nations, both of which are undergoing internal growth at a phenomenal rate in comparison with anything Western nations are able to achieve - even in a major turn round from the recent recession. And such a turnaround seems increasingly far away.
What is particularly important for gold market followers is that both nations' populations seem to have an inbuilt propensity to hold gold. For India this has always been the case. For the Chinese it is a more recent phenomenon, perhaps because it is only recently that much of the general populace has had the wherewithal to invest, but basically it is a desire which is prevalent throughout virtually all Far Asian nation states.
DB Index Research -- Weekly ETF Reports - Asia-Pacific
Assets Under Management To request a copy of the report Rakuten Securities launches db x-trackers ETFs to Japanese retail investors
Among the international ETFs RSI has marketed since May 2007, it has continued to expand its product line-up of index funds tracking developed markets indices, such as the Dow 30 and S&P 500, to also include ETFs tracking emerging markets and commodities. Shanghai Stock Exchange Plans To Introduce Over 10 ETFs In 2010
Zhang believes that from the global trend, there is ample room for development of ETF business on China's market. He said that the ETF business had developed quickly in recent years as the SSE had done a lot of work on promotion of ETFs. In 2009, the number of ETFs was 5, adding 2 to the previous 3 products. This year, the SSE will issue more ETFs. By the end of 2009, the total market capitalization of the 5 ETFs on the SSE had reached RMB44 billion. ETF Landscape: Asia Pacific Industry Review Year End 2009 In Japan, there were 68 ETFs, assets of US$24.63 Bn, with 71 listings from six providers on two exchanges at the end of December 2009. Japanese ETF AUM has fallen by 10.2% while the MSCI Japan Index is up 5.41% YTD in US dollar terms. Nomura Asset Management is the largest provider in terms of assets with US$13.37 Bn in 30 ETFs and 54.3% market share, followed by Nikko Asset Management with US$5.74 Bn in 10 ETFs and 23.3% market share, and Daiwa Asset Management in third with US$4.93 Bn in 22 ETFs and 20.0% market share at the end of 2009. Visit Blackrock for more information China’s CIC gives breakdown of US equity stakes
The filing, made last Friday, is not exhaustive. It does not include investments entrusted to outside fund managers or CIC’s stake in private equity house Blackstone.
February 11, 2010--Market Overview
There are 202 equity based ETFs in the Asia Pacific region with 267 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 38.47% of the whole market, whilst China has the largest market share by turnover with 44.95%.
There were no new listings in the last week.
Turnover
Monthly average daily turnover rose 2.1% in the last week. Turnover for the previous week was USD 1093m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 300m accounting for 27.4% of total turnover.
AUM declined 1.6% in the previous week. AUM as of Feb 8th were USD 58.5bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.1bn.
February 11, 2010--Rakuten Securities has launched and commenced the marketing of six listed Chinese exchange-traded funds structured and developed by Deutsche Bank under its db x-trackers series to Japanese retail investors.
Rakuten Securities has provided US and Chinese equity products since 1999 and 2003 respectively, and has continued to expand its product line-up.
February 10, 2010--"The Shanghai Stock Exchange (SSE) has defined year 2010 as 'the year for business innovation on China's capital market', and its main task of innovation is to promote the exchange-traded funds (ETFs)," said President Zhang Yujun of the SSE at the recent SSE Seminar on ETF Innovation. According to Zhang, the SSE will introduce more than 10 ETFs this year, among which the SSE Mid-cap ETF will be one of the most important products to be promoted by the SSE.
The SSE hopes that the participants at the meeting, including banks, securities dealers, insurance companies and other parties, will vigorously develop their ETF business. Zhang made an all-round analysis on the history of rapid development of overseas ETFs as well as the great prospect for their development in China. "ETF was born 17 years ago, but it has now become one of the fastest-growing products on the mature markets globally," said Zhang. The market capitalization of ETFs, valued at US$0.8 billion in 1993 when it came into being, outnumbered US$1 trillion at the end of 2009. New York Stock Exchange boasts over 1,000 listed ETFs while the Standard & Poor's 500 ETF enjoys the largest market capitalization of more than US$100 billion.
February 10, 2010--This report is a review of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) in the Asia Pacific region through 2009. Data is split and shown as Asia Pacific (ex-Japan) with Japan data shown separately. This report also includes a review of all ETFs listed in Asia Pacific and a comparison to the local mutual fund flows and Index performance comparisons.
At the end of December 2009 there were 197 ETFs in Asia Pacific, with 278 listings, assets under management of US$63.15 Bn from 48 providers on 15 exchanges.
In Asia Pacific (ex-Japan), there were 129 ETFs, assets of US$38.52 Bn, with 207 listings from 44 providers on 13 exchanges at the end of December 2009. Asia Pacific (ex-Japan) ETF AUM has increased by 62.1%, while the MSCI AC Asia Pacific ex-Japan Index is up 68.4% YTD in US dollar terms. State Street Global Advisors is the largest provider in terms of assets with US$9.72 Bn in 13 ETFs and 25.2% market share, followed by iShares with US$7.84 Bn in 13 ETFs and 20.3% market share, and Hang Seng Investment Management in third with US$5.29 Bn in three ETFs and 13.7% market share at the end of 2009.
Fbruary 8, 2010--China Investment Corp, the country’s $300 billion sovereign wealth fund, has made its biggest US equity bets in natural resources and financial stocks. A filing with the US Securities and Exchange Commission detailed equity holdings in US listed companies and funds worth $9.63 billion at the end of 2009.
About a quarter of the investments is in exchange-traded funds, giving CIC exposure to markets in Europe, Asia and emerging markets at a low cost.
