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FSA publishes English translation of “Annual Supervisory Policies for Regional Financial Institutions for Program Year 2009
December 22, 2009--The FSA published today an English translation of “Annual Supervisory Policies for Regional Financial Institutions for Program Year 2009.”
Summary of Annual Supervisory Policies for Regional Financial Institutions for Program Year 2009
Annual Supervisory Policies for Regional Financial Institutions for Program Year 2009
Source: Financial Services Agency, The Japanese Government
India To Develop 60 Solar Cities To Reduce Dependence On Conventional Energy
December 22, 2009-- India has approved, in-principle, 34 cities in the country to be developed as Solar Cities.
The states from which these cities will be chosen come from around the country. They include Andhra Pradesh, Assam, Chandigarh,
Chattisgarh, Gujarat, Goa, Haryana, Karnataka, Maharashtra, Madhya Pradesh, Manipur, Nagaland, Orissa, Punjab, Rajasthan, Tamilnadu, Tripura, Uttar Pradesh, Uttarakhand and Kerala.
Proposals from the other states have not yet been received.
The proposals had been invited from all the states based on certain guidelines. The approval was given after considering whether the cities met the criteria.
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Source: AHN
China aims for 2010 GDP growth of 8 pct, minister says
December 21, 2009--China’s government is targeting 8 percent growth next year as the global economy recovers, the country’s industry minister said Monday.
“Based on the economic growth target of about 8 percent, set by the central government, we aim for industrial output growth at about 11 percent,” said Li Yizhong in a webcast on his ministry’s site.
Li’s comment was the first indication of Beijing’s 2010 growth target, a figure that usually is released after the start of the year. The annual target has been set at 8 percent for several years, though growth has exceeded that.
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Source: Todays Zaman
China banks need $73 bln capital in 2010 - regulator
December 21. 2009--Chinese banks may need to raise about 500 billion yuan ($73 billion) from the capital markets next year as rapidly expanding loans weaken their financial strength, a senior banking regulator said, marking the first official estimate of banks' near-term fund-raising.
Li Fuan, a director at the China Banking Regulatory Commission (CBRC), told a forum over the weekend the figure included 100 billion to 200 billion yuan for Agricultural Bank of China, which is preparing for an initial public offering.
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Source: Reuters
Publication of ''the Draft Blueprint for the Development of Institutional Frameworks Pertaining to Financial and Capital Markets''
December 18, 2009--On December 17, 2009, the Financial Services Agency (FSA) published''the Draft Blueprint for the Development of Institutional Frameworks Pertaining to Financial and Capital Markets''.
view Main Points of the Draft Blueprint for the Development of Institutional Frameworks Pertaining to Financial and Capital Markets
In addition, FSA invites public opinion (written in Japanese) on this Draft Framework. Details can be found here (Japanese)
Source: Financial Services Agency (FSA) Japan
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
December 16, 2009--Highlights
Market Overview
There are 197 equity based ETFs in the Asia Pacific region with 256 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 41.53% of the whole market, whilst China has the largest market share by turnover with 53.37%.
There were two new listings in the last week. Simplex Asset Management listed one new Equity ETF in Tokyo SE and China Southern Fund Management listed one new Equity ETF in Shenzhen Stock Exchange (
Turnover
Monthly average daily turnover rose 7.3% in the last week. Turnover for the previous week was USD 1206m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 339m accounting for 28.1% of total turnover.
Assets Under Management
AUM declined 1.9% in the previous week. AUM as of Dec 14th were USD 61.4bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by Blackrock Fund Advisors (formerly BGI), with AUM of USD 6.4bn.
To request a copy of the report
Source: Aram Flores and Shan Lan -DB Index Research
Publication of the “Report by the Roundtable Committee on Fundamental Issues of the Financial System Council
December 16, 2009--Beginning in July 2009, the Roundtable Committee on Fundamental Issues of the Financial System Council held eight sessions of deliberations on what Japan's financial system should be like in the future in light of the global financial crisis.
Based on these deliberations, the Roundtable Committee compiled and published a report entitled, “Designing the Japanese Financial System in Light of the Global Financial Crisis” on December 9, 2009.
view Report by the Roundtable Committee on Fundamental Issues of the Financial System Council -Designing the Japanese Financial System in Light of the Global Financial Crisis
Source: Financial Services Agency, The Japanese Government
Custom FTSE Value-Stocks China Index to be used as basis of first ETF listed by Sensible Asset Management Hong Kong
November 15, 2009--FTSE Group (FTSE), the global index provider, was selected by Value Partners Index Services Limited (“Value Partners”) to build the FTSE Value-Stocks China Index as a custom index solution for the first Exchange Traded Fund (ETF) to be listed by Sensible Asset Management Hong Kong Limited (SAMHK)*.
Paul Hoff, Managing Director, Asia Pacific, FTSE Group said, “FTSE indices are increasingly selected by the investment community as the basis of ETFs globally. With FTSE’s enhanced custom capabilities, we are able to provide unique solutions such as the FTSE Value-Stocks China Index. We expect to see an increasing number of custom requests as managers develop ETFs and other products with new themes or underlying strategies into the Asian market, and are responding with our strengthened custom team.”
The FTSE Value-Stocks China Index, which will be used as the basis for the Value China ETF, combines FTSE’s strengths in index design and calculation with the bespoke, value-based stock selection methodology developed by Value Partners. The resulting index captures the performance of 25 quality value stocks amongst liquid and tradable Chinese companies listed on the Hong Kong exchange including H Shares, Red Chips and P Chips.
For more information about FTSE’s award-winning indexing services please visit www.ftse.com
Source: FTSE
Barclays Capital Lists iPath® Exchange Traded Note On SGX, Firstever ETN In Asia Outside Japan
December 15, 2009--Barclays Capital, the investment banking division of Barclays Bank PLC, and Singapore Exchange Limited (SGX) today announced the listing of the iPath® Dow Jones-UBS Commodity Index Total ReturnSM Exchange Traded Note (ETN) on the SGX.
The iPath® Dow Jones-UBS Commodity Index Total ReturnSM ETN is the first-ever ETN listed in Asia outside Japan and provides both institutional and retail investors with exposure to a broad range of commodities during the Asian time zone.
iPath® ETNs were first launched by Barclays Capital in the US in 2006 and are designed to provide investors with convenient access to the returns of market benchmark indices, less investor fees. The iPath® ETNs are senior, unsecured, unsubordinated debt securities linked to the performance of an underlying index.
“We are very excited to bring the iPath® ETN platform to investors in Asia. iPath® ETNs have been tremendously successful in the US attracting over US$5 billion in market capitalisation with over US$80 billion in volume traded since inception,” said Philippe El-Asmar, Head of Investor Solutions at Barclays Capital. “iPath® ETNs provide investors with simple, transparent, cost efficient instruments that provide access to difficult–to-reach markets with the ease of trading through an exchange,” he added.
Ms Janice Kan, Senior Vice President & Head of Product Development at SGX said, “We are pleased to be the first listing venue for Barclays Capital’s iPath® ETN platform in Asia. The launch of this new product class broadens our suite of investment offerings and will provide investors with cost-efficient access to the commodities asset class, and eventually, a range of other asset classes. This underpins our efforts in developing SGX as the one-stop investment gateway in Asia.”
Peter Hu, Barclays Capital’s Head of Investor Solutions in Non Japan Asia said, “We are delighted to be able to provide investors with a new way to invest across different asset classes during Asian trading hours. The iPath® Dow Jones-UBS Commodity Index Total ReturnSM ETN we are launching today enables investors to gain exposure to a broad range of underlying commodities with ease via a single, liquid and transparent instrument. We see self-directed investors becoming an increasingly important client segment in Asia and we plan to cater for their varied investment needs by launching many more iPath® ETNs in the future.”
Further information can be found on the iPath Asia website at .iPathAsia.com
Source: Barclays Capital
China finds huge iron ore deposit
December 15, 2009--BEIJING: China has found a one-billion tonne iron ore deposit, which is the biggest discovery of the mineral since 1980s. This is bound to cause some worries in India as iron ore accounts for nearly half of Indian exports to China.
This is another jolt after China stepped up efforts to enter into more long-term supply contracts and reduce its dependence on spot market buying from India. Last November, Wuhan Iron & Steel Group, China's third largest steelmaker, inked a long-term supply contract with Venezuela's Corporacion Venezolana de Guayana in order to diversify its raw material sources.
The latest discovery is a 6-km long deposit with thickness ranging between 41.43 and 108.95 meters. It lies 100 to 600 meters deep underground in Luannan County in the northern province of Hebei, Zhang Shaolian, head of Hebei Provincial Bureau of Land and Resources, said.
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Source: The Times of India
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