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China Investors Pile Into Saudi ETFs as Two Nations Grow Closer
July 28, 2024--Both ETFs trade at sizable premiums to their net asset values
Saudi ETFs have competitive advantage in yields: Guotai Junan
Chinese investors are pouring money into two new exchange-traded funds tracking Saudi Arabian shares as the dismal performance of local equities supercharges demand for overseas assets.
The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on July 16 with both jumping by the daily 10% limit on their first two trading days. They were then suspended
for part of July 18 after their managers notified the exchanges that the premiumm of their share price over their net asset value had become excessive.
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Source: bloomberg.com
China's Third Plenum all about muddling through
July 22, 2024--Third Plenum announced reform measures that were either already underway or vexingly vague in detail at a crucial juncture for the economy
Four days of highly anticipated high-level Third Plenum meetings (from July 15 to 18) among Chinese Communist Party leaders ended with a perplexingly vague readout.
Indeed, the anticipated meeting's July 19 press conference failed to assuage China watchers' general impression of a non-event, even if some 300 reforms were touted by the official Chinese media, most of which were already underway.
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Source: asiatimes.com
WTO-Trade Policy Review: China
July 19, 2024--SUMMARY
1. During the review period, China remained an important driving force for global economic
growth. The economy recovered well from pandemic-related shocks, and China's exports and
imports continued to increase
The growth of trade in intermediate goods strongly outpaced the
growth of merchandise trade in general, indicating China's further integration into international
supply chains. However, the structural change it had previously embarked upon-away from
industry and towards services-came to a halt.
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Source: WTO (World Trade Organization)
Tech-focused ETFs Take Spotlight after Mainland China-Hong Kong ETF Connect Expansion
July 18, 2024--On July 12th, it was announced that 91 additional ETFs will be added to the Mainland China-Hong Kong ETF Connect Program, which will take effect on July 22nd. This expansion brings the total number of ETFs in the program to 241, with 19 of them being managed by E Fund Management ("E Fund"), the largest fund manager in China.
In meantime, a significant increase in foreign investors' demand for tech investment opportunities was observed, with the electronics sector being the most popular-the northbound fund inflows into the sector reached US$1.58 billion in the second quarter.
After the expansion, offshore investors with interests in tech innovation can leverage enriched investment tools- more than 20 thematic ETFs, including three from E Fund, namely E Fund CSI Artificial Intelligence Thematic ETF (Code: 159819), E Fund CSI Cloud Computing & Big Data Index ETF (Code:516510), and E Fund CSI Technology 50 Index ETF (Code:159807).
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Source: E Fund Management
OKX Ventures Releases Bi-Monthly Investment Report (May-June 2024)
July 17, 2024--OKX Ventures, the investment arm of leading Web3 technology company OKX, has released its bi-monthly investment report for May-June 2024, highlighting steady progress across multiple fields and maintaining an optimistic outlook on market prospects.
Key Highlights:
Despite economic challenges, the crypto industry shows resilience and growth potential.
Ethereum spot ETF approval and on-chain data indicate positive momentum.
OKX Ventures observes significant developments in Bitcoin Layer-2s, TON ecosystem, and blockchain security.
The report showcases recent investments in innovative projects such as Bedrock, Codatta, GoPlus, and Nubit.
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Source: OKX
Hong Kong and mainland Chinese exchanges add 91 ETFs to Stock Connect scheme
July 12, 2024--A total of 85 ETFs will be added for trading in the northbound direction and six in the southbound direction, with the expanded list to take effect from July 22
More than 90 new exchange-traded funds (ETFs) will be eligible to trade under the expanded cross border Stock Connect programme later this month, giving investors more trading options, according to separate announcements by bourses in Hong Kong and mainland China on Friday.
The Shanghai, Shenzhen and Hong Kong stock exchanges added 85 ETFs for northbound trading and six in the southbound direction, after average asset management sizes and index weightings were lowered in April to enhance the mutual market access programme.
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Source: scmp.com
Samsung Active Asset Management Launches KoAct AI Infrastructure Active ETF Benchmarked Against Solactive Korea AI Infrastructure Index
July 9, 2024--The global AI infrastructure market has grown significantly against the backdrop of increasing global adoption of AI technologies across various industries, driven by the data explosion and advancements in AI algorithms. In response to this fast-growing industry, Solactive is pleased to announce that Samsung Active Asset Management has listed the KoAct AI Infrastructure Active ETF, benchmarked against the Solactive Korea AI Infrastructure Index.
Undergoing rapid growth amidst the blooming AI transition, the global AI infrastructure market is set to expand rapidly and reach approximately USD 223 billion by 2030 from its 2023 valuation at USD 57 billion with a compound annual growth rate (CAGR) of c. 30% from 2024 to 2030[1], making it a highly attractive investment opportunity for international investors. Home to some of the most critical semiconductor and tech companies, South Korea is well-positioned for the development of AI and in particular the AI infrastructure ecosystem that is poised for strong government support and favorable policies such as the National Artificial Intelligence Strategy and the Digital New Deal, further fostering AI development and innovation.[2]
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Source: Solactive AG
Mainland China-Hong Kong ETF Connect Marks Two Years of Strengthened Market Integration, Expansion Expected to Boost Investment Options and Liquidity
July 8, 2024--On July 4th, the ETF Connect Program, which facilitated two way capital flows between mainland China and Hong Kong for eligible ETFs, celebrated its two-year anniversary.
Over the past two years, the program strengthened its position in deepening the integration of the two capital markets, the number of eligible ETFs increasing from 87 to 151 since launch and the monthly Northbound trading volume rising from US$55 million to US$2.98 billion in June this year.
According to Hong Kong Stock Exchange, the current eligible ETFs consist of 84 listed on Shanghai Stock Exchange, 57 listed on Shenzhen Stock Exchange, and 10 listed on Hong Kong Stock Exchange. Among them, E Fund Management ("E Fund"), the largest fund manager in China, has a total of 14 ETFs included, covering a variety of indexes, including broad-based indexes such as CSI 300 Index and STAR 50 Index, thematic index such as CSI Artificial Intelligence Index, and strategic index such as CSI Dividend Index.
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Source: E Fund Management
A Closer Look at H1 2024 A-share ETF Market: Rise of Broad-based and High Dividend Yield ETFs
July 5, 2024--In the first half of 2024, the A-share ETF market scaled a new record high and the market size surpassed US$292 billion, with broad-based ETFs as the main driving force. According to Wind, the assets of broad-based ETFs doubled from US$83 billion in mid-2021 to over US$171 billion, increasing their share from 41% to 59%.
Meanwhile, 25 fund companies launched a total of 84 stock ETFs, an increase of 27 from the same period last year, with a combined initial offering size exceeding US$5.8 billion. Among them, E Fund, the largest fund manager in China, topped the market with ten new ETF launches[1] and over US$505k in fundraising.
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Source: E Fund Management
China ETF assets register 'explosive' growth
July 2, 2024--Booming sector has enjoyed annual growth rate of 40% since 2018 as actively managed funds have slumped
China's exchange traded fund industry has surged in recent years, buoyed by record high inflows into equities strategies and amid a slump in the take-up of active funds, according to Morningstar research.
Total annual inflows into China ETFs reached Rmb604.3bn ($83.3bn) in 2023, the research firm's latest China ETF Asset Flows report shows.
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Source: ft.com
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