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Bitcoin falls sharply after China signals crypto crackdown
May 19, 2021--Bitcoin has fallen 14% to its lowest level since early February after Chinese regulators stepped up efforts to crack down on the use of cryptocurrencies by financial institutions.
In a joint statement issued by the People's Bank of China's WeChat account, banks and Internet industry groups said that financial and settlement institutions would not accept cryptocurrencies as payments or provide services or products related to them. I said it wouldn't be.
In a statement released late Tuesday, the group said cryptocurrencies were "not real currencies" and "should not be used as currencies in the market and should not be used". Recent price hike As "speculation".
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Source: californianewstimes.com
TIGER US Tech Top 10 INDXX ETF crosses $100 mn in assets within a month of launch
May 19, 2021--Indxx is very excited to announce that the TIGER US Tech Top 10 INDXX ETF (Ticker: 381170 KS Equity), which tracks the Indxx US Tech Top 10 Index, surpassed the $100 million in assets under management milestone on May 12, 2021. The fund started trading on the Korean Stock Exchange on April 09, 2021.
Rahul Sen Sharma, Managing Partner at Indxx, said, "We are extremely delighted at the record growth and success of the TIGER US Tech Top 10 INDXX ETF. The targeted exposure to the largest technology companies has proven to be a promising strategy for Korean investors. It is exciting to witness the record pace at which the fund continues to grow. We extend our congratulations to our friends at Mirae Asset Global Investments on this achievement and look forward to celebrating more such milestones in the future."
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Source: Indxx
BetaShares Australian ETF Review-April 2021-APRIL 2021: INDUSTRY POWERS AHEAD INTO Q2
May 19, 2021--After breaking the $100B assets under management milestone in March, the Australian ETF industry has powered ahead in April, assisted by the 'triple threat': 1) strong sharemarket gains 2) higher than average net flows, and 3) another large unlisted fund conversion on Chi-X.
Market cap
ASX Exchange Traded Product market cap: $108.8B1-all time end-of-month high
Market cap change for month: 5.8%, $5.9B
Market cap growth for the last 12 months: 78%, + $47.5B -fastest yearly growth ($ terms) on record
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Source: betashares.com.au
Trading in Taiwan inverse ETF surged as stock market plunged
May 19, 2021--The Yuanta/P-shares Taiwan Top 50 inverse fund was the most traded security during May 12 turmoil
As the Taiwanese stock market suffered the worst one-day drop last week, one inverse exchange traded fund recorded its highest trading volume and became the most traded security on the exchange.
Taiex, the weighted index for stocks listed on the Taiwan Stock Exchange, fell 8.55 per cent on May 12, the worst intraday decline since it was launched in 1969.
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Source: FT.com
Japan's economy slumps back into decline as COVID-19 hits spending
May 18, 2021--Japan's economy shrank more than expected in the first quarter as a slow vaccine rollout and new COVID-19 infections hit spending on items such as dining out and clothes, raising concerns the country will lag others emerging from the pandemic.
Capital expenditure also fell unexpectedly and export growth slowed sharply, a sign the world's third-largest economy is struggling for drivers to pull it out of the doldrums.
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Source: reuters.com
BlackRock Wins Approval for China Wealth Management JV
May 14, 2021--BlackRock will own 50.1 percent of the joint venture, while China Construction Bank will own 40 percent.
China Banking and Insurance Regulatory Commission (CBIRC) has awarded BlackRock a license for its wealth management joint venture in China with Singapore sovereign investor Temasek and state-owned financial giant China Construction Bank, the U.S. fund house said on Wednesday.
"The Chinese market represents a significant opportunity to help meet the long-term goals of investors in China and internationally" Larry Fink, BlackRock chairman and CEO, said in a statement.
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Source: finews.asia
BlackRock fee cut portends new Hong Kong ETF price skirmish
April 28, 2021--Management charges on the iShares FTSE A50 China ETF have been slashed from 0.99% to 0.35%
BlackRock's decision to slash fees on its flagship China A-share exchange-traded fund in Hong Kong, suggests the market is becoming more competitive and could spark a price war, some industry participants say.
BlackRock announced last month that the management fee on its Hong Kong-listed iShares FTSE A50 China ETF would be reduced by more than half to 0.35 per cent from 0.99 per cent per annum, effective on March 22.
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Source: ftchinese.com
China set to report first population decline in five decades
April 28, 2021--China is set to report its first population decline since the famine that accompanied Mao Zedong's Great Leap Forward in the late 1950s, reported the Financial Times.
The current fall in population comes despite the relaxation of strict family planning policies, which was meant to reverse the falling birth rate of the world's most populous country.
The latest Chinese census, which was completed in December but has yet to be made public, is expected to report the total population of the country at less than 1.4 billion, according to people familiar with the research, reported the FT. In 2019, China's population was reported to have exceeded the 1.4 billion mark.
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Source: chinaeconomicreview.com
IMF-Philippines: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the Philippines
April 9, 2021--Summary:
GDP contracted by 9½ percent in 2020-a much steeper decline than during the Asian Financial Crisis (AFC)-but it is now recovering with the easing of containment measures and economic policy support. Banks are closely connected to the corporate sector through high credit exposures and conglomerate ownership linkages.
The Financial Action Task Force (FATF) may list the Philippines as a jurisdiction with serious Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) deficiencies in 2021. The country is also vulnerable to climate change (physical) risks, especially the destruction of physical capital from typhoons.
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Source: IMF
BetaShares Australian ETF Review-March 2021: Raise the Bat! Industry Blasts Through the $100B Mark
April 14, 2021--The Australian ETF industry now exceeds $100 billion in funds under management (FUM), topping the milestone figure for the first time just three months after the end of a record-breaking 2020. The milestone was met after a very strong month for growth, driven by a combination of asset price appreciation, a large unlisted fund conversion and solid net flows.
Market cap
ASX Exchange Traded Product market cap: $102.9B1- all time end of month high, breaking through the $100B milestone
Market cap change for month: 5.7%, $5.6B
Market cap growth for the last 12 months: 80%, + $45.7B -all time high, fastest yearly growth on record
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Source: betashares.com.au
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