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Biggest IPO in history? China's Ant could trump Saudi Aramco's $29.4bln
September 6, 2020--Backed by e-commerce giant Alibaba Group, Ant plans to list simultaneously in Hong Kong and Shanghai.
Chinese financial technology firm Ant Group is expecting a mega IPO of up to $30 billion, which would trump Aramco's $29.4 billion IPO, according to reports, and make it the world's largest ever.
Backed by e-commerce giant Alibaba Group, Ant plans to list simultaneously in Hong Kong and Shanghai. Sources have said it could take place as soon as October.
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Source: zawya.com
Australian Senate Committee Interim Report into FinTech & RegTech released
September 4, 2020--The Australian Senate Select Committee inquiry into FinTech and RegTech has released their interim report.
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Source: bitsofblocks.io
Investors see lower net returns from potential closet index funds
September 3, 2020--Singapore Exchange Ltd. is creating two new cryptocurrency indexes with the goal of setting the pricing standard for Bitcoin and Ethereum in Asia.
SGX's iEdge Bitcoin Index and iEdge Ethereum Index will use inputs from exchanges determined by CryptoCompare, according to the methodology.
The aim is for the gauges to become reference points for trading in those cryptocurrencies during Asian hours, according to SGX's Head of Index Services Simon Karaban.
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Source: bloomberg.com
U.S. financial firms like Citi and BlackRock make inroads into the Chinese market
September 2, 2002--Citi announced Wednesday it has become the first U.S. bank- and the first of the top 5 global custodians-to receive a domestic fund custody license from the China Securities Regulatory Commission.
The Chinese regulatory approval follows similar moves for other foreign financial institutions that have long wanted to expand their operations in the local market.
Tianjun Wu, deputy economist at The Economist Intelligence Unit, cautions that China still needs to prove its judicial system can support the development of a vibrant financial market.
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Source: cnbc.com
SGX Index Edge to launch crypto indices in collaboration with CryptoCompare
September 1, 2020--First-of-its-kind collaboration in Asia-Pacific, specifically tailored for financial products in the region
New indices mark SGX Index Edge's entry into the digital currency asset class, further broadening the range of iEdge indices that are available to its customers
Singapore Exchange (SGX) is collaborating with UK-based cryptocurrency market data provider CryptoCompare, to launch crypto indices under the SGX iEdge index suite, namely the iEdge Bitcoin Index and iEdge Ethereum Index, as the first batch of such indices.
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Source: yahoo.com
India's recovery to take time after economy shrinks 24% in June quarter
September 1, 2020--Economic slump adds pressure for further stimulus, rate cut
India's economy shrank by nearly a quarter in April-June, much more than forecast and pointing to a longer than previously expected recovery with analysts calling for further stimulus.
Consumer spending, private investments and exports all collapsed during the world's strictest lockdown imposed in late March to combat the COVID-19 pandemic and India -the world's fastest-growing large economy until a few years ago-now looks to be headed for its first full-year contraction since 1980.
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Source: zawya.com
BlackRock gets regulators' approval to set up China mutual fund unit
August 28, 2020--BlackRock (BLK.N) has become the first global asset manager to win regulatory approval to set up a mutual fund unit in China, as Beijing throws open its 17.7 trillion yuan ($2.58 trillion) sector.
The world's biggest asset manager by assets got the green light on Aug. 21 to form a wholly-owned subsidiary in Shanghai, the China Securities Regulatory Commission (CSRC) said on its website late on Friday.
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Source: reuters
Global X launches two ETFs in Japan
August 28, 2020--Global X, the exchange traded fund provider owned by South Korea's Mirae Asset Global Investments, has launched two ETFs in Japan almost a year after it struck a partnership with Tokyo-based Daiwa Asset Management.
The ETF provider, which has its headquarters in New York, listed the Global X Logistics J-Reit ETF and Global X MSCI SuperDividend Japan ETF on the Tokyo Stock Exchange on August 26.
The Global X Logistics J-Reit ETF tracks the TSE Reit Logistics Focus index and is the first ETF in Japan that aims to capture growth in logistics facilities in the country, Global X said.
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Source: technocodex.com
ETFGI reports ETFs and ETPs in Japan gathered net inflows of US$6.58 billion during July 2020
August 27, 2020-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs and ETPs listed in Japan gathered net inflows of US$6.58 billion during July, bringing year-to-date net inflows to US$51.54 billion significantly more than the US$26.44 billion gathered at this point in 2019 and significantly more than the net inflows of US$36.72 billion gathered in all of 2019.
Assets invested in the Japanese ETFs/ETPs industry have decreased by 1.2%, from US$420.41 billion at the end of June, to US$415.33 billion at the end of July taking assets to the third highest level on record, according to ETFGI's July 2020 Japanese ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
The Bank of Japan held $304 Bn or 73% of all ETFs/ETPs assets in Japan at the end of July.
YTD net inflows are $51.54 Bn significantly more than the $26.44 Bn gathered at this point in 2019 and significantly more than the net inflows of $36.72 Bn gathered in all of 2019.
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SOurce: ETFGI
Vanguard to leave Hong Kong and open Shanghai HQ
August 26, 2020--Vanguard Group, the world's largest mutual fund manager, confirmed this morning it will be closing its Hong Kong operations and opening a new regional office in Shanghai.
In a statement the company said a "review has now led us to the conclusion to wind down our Hong Kong operation, which primarily serves institutional clients, and not the individual investors that are our primary strategic focus."
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Source: internationalinvestment.net
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