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Bank of China gears up for $7bn HK offer
March 16, 2010--Bank of China is closing in on a $7bn share offering in Hong Kong, in the latest move by mainland lenders to bolster balance sheets strained by loan growth.
The bank is this week interviewing investment banks to help advise on the capital raising, people familiar with matter said.
BoC had announced plans for a Rmb40bn ($5.9bn) convertible bond issue on the mainland.
read more
Source: FT.com
Exposures of Japanese deposit-taking institutions to subprime-related products and securitized products based on the leading practices summarized in the FSF report
March 12, 2010--The FSA published today the exposures of Japanese deposit-taking institutions (excluding Japan Agricultural Cooperatives) to subprime-related products and securitized products based on the leading practices summarized in the FSF report. Those figures are at the end-December 2009.
view the Exposures of Japanese deposit-taking institutions to subprime-related products
Source: FSA.gov.jp
Platts introduces world's first daily metallurgical coal price assessments
New Price Data Help Steel Mills, Miners Value Asia-Bound Coking Coal
Platts, the leading global energy and metals information provider, today announced it will launch the world's first daily metallurgical coal assessments on March 15, 2010. The new daily assessments address miners' and steel mills' needs for an independent daily spot assessment in the burgeoning Asian market to better determine pricing for short- and long-term contracts.
The two assessments, reflecting hard coking coal loading in Australia for any destination and delivered into China from any potential source, complement both Platts' existing monthly coking coal assessments published in International Coal Report and Platts' IODEX iron ore assessments published in Steel Markets Daily, providing greater transparency into pricing in the steelmaking supply chain in the Asia-Pacific region. Coke, made in ovens from coking coal, provides the heat and combustion that is required in steel mill blast furnaces.
"These new assessments, along with a dry bulk freight price from Australia to China, allow us to deepen our analysis of blast furnace economics, particularly those in China," said Platts Global Director of Steel Francis Browne. "It's our hope the price transparency provided by Platts for this vital steel making ingredient will meet the global industry's need for comparative valuations of coking and other metallurgical coals," explained Browne.
Some other key findings of the 2008/09 survey
Overseas institutional investors, the largest contributors among all investor types, contributed 38 per cent to total market turnover, similar to the level in 2007/08. Local retail investors' contribution to total market turnover was a record low of 25 per cent in 2008/09, compared to 26 per cent in 2007/08. (Figure 1) view the Cash Market Transaction Survey 2008/09 report SGX Widens Global Network, Rolls Out New Commodity And Derivative Products
1. MF Global Singapore Pte Limited
Securities Clearing
Visit www.sgx.com for more information. India aims to be world's fastest growing economy
The run on gloves began five months ago, said Farooq, whose customers include Ford and Nissan.
It's been driven by a record rebound in manufacturing, spurred in part by government stimulus, which has led India out of the Great Recession faster than many imagined possible. read more
Singapore Exchange To Offer Nifty Options, Related Products read more National Stock Exchange Of India And Singapore Exchange To Explore Listing More India-Linked Products On SGX
Subject to regulatory approval, these products may include equity products and other asset classes. The two exchanges also will look into a bilateral securities trading link to enable investors in one country to seamlessly trade on the other country’s exchange.
read more 14 Foreign Commodity ETFs to be Listed (ETF Securities Limited)
March 11, 2010--Overseas investor participation in the securities market of Hong Kong Exchanges and Clearing Limited (HKEx) remained high despite the market downturn during the global financial crisis, according to HKEx's Cash Market Transaction Survey 2008/09 (covering HKEx's securities market turnover from October 2008 to September 2009).
The survey found that the contribution of overseas investors to total market turnover value remained at a relatively high level of more than 40 per cent for the fourth consecutive year (42 per cent in 2008/09, compared to 41 per cent in 2007/08) while local investors' contribution fell to a record low of 50 per cent. The contribution of institutional investors decreased somewhat from its peak of 65 per cent in 2006/07 and 2007/08 to 62 per cent in 2008/09. The contribution of retail investors was 30 per cent, similar to the all-time low of 29 per cent in 2007/08.
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
Extends membership to 7 key global players, including first Indian brokerage
Launches gold deferred settlement contract, Nifty options, STOXX futures &
options on futures contracts
Deepens collaboration with India’s National Stock Exchange (NSE)
March 11, 2010--Singapore Exchange (SGX) today announces additions to its membership network and fast-growing product suite, tapping
on the rising global interest in Asian equities, derivatives and commodities.
The new members given in-principle approval are:
Securities Trading and Clearing
1. Goldman Sachs Futures Pte Ltd
2. Standard Chartered Securities (Singapore) Pte Ltd
3. IIFL Securities Pte Ltd (subsidiary of India Infoline, one of the leading financial
services firms in India)
Securities Trading
2. Cantor Fitzgerald (Singapore) Capital Markets Limited
1. Deutsche Bank AG
Derivatives Trading
Source: Singapore Exchange (SGX)
March 11, 2010--Just how fast can India grow? Ask Manal Farooq, who can't make gloves quickly enough.
"We are facing a major problem," said Farooq, a senior executive at Marvel Gloves Industries, which produces 3 million pairs of gloves a month, most used in industrial production in India. "Despite importing gloves we are not able to meet demand."
Source: The Washington Post
March 10, 2010--The Singapore Exchange (SGX) has announced that it expects to offer options on the S&P CNX Nifty Index (Nifty) and related products in the coming year.
This follows SGX’s obtaining of licensing rights from India Index Services & Products Limited (IISL) for the product range including derivative contracts on the CNX Nifty Junior, CNX 100 and CNX Midcap indices. The addition of these products is subject to relevant regulatory approvals. The new India-based products aim to provide market participants with increased trading opportunities and enhanced means for risk management.
Source: Automated Trader
March 10, 2010--National Stock Exchange of India Limited (NSE) and Singapore Exchange (SGX) have signed a Memorandum of Understanding (MOU) to cooperate in the development of a market for India-linked products.
Under the MOU, both exchanges aim to explore future collaboration in the expansion, development and promotion of India-linked products and services to be listed on SGX.
Source: The Edge
March 9, 2010--The Tokyo Stock Exchange (TSE) approved today the listing of 14 foreign commodity ETFs. These foreign ETFs are managed by ETF Securities Limited and their main market is the London Stock Exchange. The 14 ETFs are scheduled to be listed on Friday, March 19, 2010.
New Listings
| Code | ISIN Code | Name |
|---|---|---|
| 1684 | GB00B15KY989 | ETFS All Commodities DJ-UBSCI(SM) |
| 1685 | GB00B15KYB02 | ETFS Energy DJ-UBSCI(SM) |
| 1686 | GB00B15KYG56 | ETFS Industrial Metals DJ-UBSCI(SM) |
| 1687 | GB00B15KYH63 | ETFS Agriculture DJ-UBSCI(SM) |
| 1688 | GB00B15KYL00 | ETFS Grains DJ-UBSCI(SM) |
| 1689 | GB00B15KY104 | ETFS Natural Gas |
| 1690 | GB00B15KXV33 | ETFS Crude Oil |
| 1691 | GB00B15KXW40 | ETFS Gasoline |
| 1692 | GB00B15KXN58 | ETFS Aluminum |
| 1693 | GB00B15KXQ89 | ETFS Copper |
| 1694 | GB00B15KY211 | ETFS Nickel |
| 1695 | GB00B15KY765 | ETFS Wheat |
| 1696 | GB00B15KXS04 | ETFS Corn |
| 1697 | GB00B15KY542 | ETFS Soybeans |
Source: Tokyo Stock Exchange
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