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ICICI Bank chief sees better times ahead
November 9, 2009--ICICI Bank expects its balance sheet to grow this quarter after 12 months of contractions in a sign that the bank is turning the corner following the global economic crisis.
Chanda Kochhar, chief executive of India’s largest private sector financial institution, said it was still shrinking its unsecured retail portfolio. But its other segments were starting to show strong growth, indicating the wider economy was picking up speed.
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Source: FT.com
ETF linked to Indian stocks to be listed on November 26 NEXT FUNDS S&P CNX Nifty Linked Exchange Traded Fund
November 6, 2009--Today, the Tokyo Stock Exchange approved the listing of the "NEXT FUNDS S&P CNX Nifty Linked Exchange Traded Fund" managed by Nomura Asset Management Co., Ltd.. The ETF is planned to be listed on Thursday, November 26, 2009.
This is the first ETF linked to Indian stocks to be listed on markets in Japan. The "S&P CNX Nifty Index" to which the ETF is linked is comprised of the 50 premier issues of the National Stock Exchange of India.
| Code | 1678 (ISIN JP3047100007) |
|---|---|
| Name | NEXT FUNDS S&P CNX Nifty Linked Exchange Traded Fund |
| Fund Administrator | Nomura Asset Management |
| Listing Date | November 26, 2009 |
| Trading Unit | 100 units |
| Underlying Index | S&P CNX Nifty Index |
TSE entered into a memorandum of understanding with the National Stock Exchange of India on October 15, 2006. Through this ETF, TSE hopes to supply investors with better access to the Indian securities market and contribute to the development of the markets in both of our countries.
With this listing there will be a total of 69 ETFs listed on the Tokyo market, bringing us closer to the goal of 100 listed ETFs by fiscal year 2010, as laid out in the Medium-Term Management Plan. TSE will continue working to
Source: Tokyo Stock Exchange (TSE)
Revamp of the Index Report: Tokyo Stock Exchange
November 6, 2009-The Tokyo Stock Exchange publishes Index Reports which show weekly and monthly index trends.
The contents of this Index Report have undergone an extensive revision as follows.
Features of the new Index Report
New additions:
TOPIX Style Index Series (calculation began in February 2009)
Tokyo Stock Exchange Composite Index Series (calculation began in February 2009)
TOPIX-17 Series (also used in ETFs)
Clear index trends with a graph indicating index gain/loss in percentages
Brief summary of index performance, etc. at the top of every report
Easy understanding of market movements with publication of TOPIX historical volatility
Gain an insight into weekly and monthly TSE market
Index Reports are located on the TSE website at the following pages.
Index Report / Total Return Index (English)
Index Report / Total Return Index (Japanese)
Source: Tokyo Stock Exchange (TSE)
Woori Investment & Securities Co. plans to set up a hedge fund with Temasek Holdings Pte, Singapore’s government-owned investment company, said two Woori officials.
November 3, 2009-- Woori Investment & Securities Co. plans to set up a hedge fund with Temasek Holdings Pte, Singapore’s government-owned investment company, said two Woori officials.
No decision has been made on whether Temasek will take part in the fund that will be used for overseas investments, the officials said, declining to be identified because the talks are in the initial stage. The fund’s size and when it will be established also remain undetermined, they said.
The two companies plan to set up a $50 million fund by the end of this year, and expand it to $100 million next year, Korea Economic Daily reported, citing a Woori official it didn’t identify
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Source: Bloomberg
China reschedules Three Gorges reservoir plan
November 5, 2009--China has postponed a plan to raise the Three Gorges reservoir to its ideal height of 175 metres due to a lack of water, the firm running the dam said.
There has been less water than expected flowing into the reservoir from the upper reaches of the Yangtze River.
More water than anticipated has also been let out of the reservoir because of drought further down river. Filling the reservoir will mark the end of the multi-billion-dollar project that was started in 1993.
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Source: BBC
SGX Reschedules Implementation Of New Settlement Processes And Penalty Framework
November 5, 2009--Singapore Exchange Limited (“SGX”) will be rescheduling the implementation of the new settlement processes and refined penalty framework from 6 November 2009 to a later date. The subsequent implementation of buy-in for failed securities due on T+3, which was scheduled for 30 November 2009, is also under review. The revised dates will be announced in due course after consultation with market participants.
The rescheduling is due to an isolated incident experienced today in the pre-settlement matching system (PSMS). This incident affected settlement of less than 1% of institutional trades. Settlement for retail trades is not affected. The trading and settlement of securities remain orderly in the marketplace. This incident is unrelated to the changes planned for implementation on 6 November 2009*. SGX is working to resolve the matter expeditiously.
As a prudent measure, the rescheduling of the implementation of the new settlement process will allow more time for the full stability of the PSMS environment.
Source: Online News
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
November 4, 2009--Highlights
Market Overview
There are 188 equity based ETFs in the Asia Pacific region with 247 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 41.43% of the whole market, whilst China has the largest market share by turnover with 42.67%.
There was one new listing in the last week. BOCI-Prudential Asset Mgmt Ltd listed a new ETF on the Korean Stock Exchange.
Turnover
Monthly average daily turnover rose 11.6% in the last week. Turnover for the previous week was USD 893m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 212m accounting for 23.7% of total turnover.
Assets Under Management
AUM declined 1.7% in the previous week. AUM as of Nov 3rd were USD 59.0bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BGI, with AUM of USD 6.6bn.
To request a copy of the report click here
Source: Aram Flores and Shan Lan -DB Index Research
Japan investors keep close eye on dividends
November 4, 2009--With Japan’s reporting season still in progress, investors are keeping a close eye on dividend payments as some of the country’s biggest companies start to emerge from the economic downturn.
While Nomura last week resumed dividends after skipping one payment, Aiful suspended its payment.
Dividend payouts this financial year are projected to reach Y5,800bn ($64bn), according to Nomura.
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Source: FT.com
China hints at move to rein in growth
November 4, 2009--China's recent decision to increase the number of domestic funds that can invest in overseas securities may be a prelude to a tightening of monetary policy for the fast-growing economy, while also signaling confidence in the domestic share market, analysts said.
E Fund Management was granted a quota of US$1 billion and China Merchants Fund Management a limit of $500 million under the Qualified Domestic Institutional Investor (QDII) program by the State Administration of Foreign Exchange (SAFE) last month.
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Source: Asia Times
India's central bank buys 200 tons of IMF gold for $6.7 billion
November 2, 2009--India's central bank confirmed Tuesday it had purchased 200 tons of gold bullion from the International Monetary Fund, effectively boosting its holdings by more than 50% and diversifying its $285 billion foreign-exchange stockpile.
The sale was part of the IMF's previously announced plan to sell 403.3 metric tons of bullion as part of efforts to shore up the institution's finances.
India paid $6.7 billion for the bullion, which was purchased during a two week period ending Oct. 30.
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Source: MENFA
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