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Reform of Market Making in Bond Market and Resumption of Collecting Trading Fee
July 2, 2015--The Korea Exchange (KRX) will introduce performance-based market making system to reinforce the liquidity of bond market, and resume collecting trading fee in bond market
to secure financial resource starting July 27, 2015.
Introduction of Performance-based Market Making System
Performance-based market making system* by bond market will be implemented to reinforce market making function of the Exchange bond market.
For government bond market and small bond market, market making system is introduced and for general bond market, the current system will be improved.
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Source: The Korea Exchange (KRX)
Van Eck Global lists Market Vectors Morningstar Wide Moat ETF
July 2, 2015--New York investment manager Van Eck Global listed its Market Vectors Morningstar Wide Moat exchange-traded fund (ETF) (ASX code: MOAT), giving Australian investors exposure to a concentrated portfolio of U.S. equities with a new twist.
This ETF seeks to leverage Morningstar, Inc. ('Morningstar')'s equity research that aims to identify companies with wide "economic moats" or the potential to maintain a competitive advantage over the long term.
The concept of economic moats was popularised by investment legend Warren Buffett. To Buffett, the castle is the business and the moat is its competitive advantage. The wider the moat, the more sustainable the business.
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Source: Professional Planner
China targets counterweight in gold trade with yuan fix
July 1, 2015--Yuan gold fix latest step by China to boost global influence
Could provide benchmark for top consuming region Asia
Full yuan convertibility could support its global use
A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer.
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Source: Reuters
India needs improved regulations for private equity: McKinsey
Says realised gross returns after 2007 have dropped to just 7% from 21% in the previous years
July 1, 2015--Private equity investors in India have seen their returns erode sharply since the global financial crisis and need regulatory changes that make it easier to invest and exit from companies, consulting firm McKinsey said in a report on Wednesday.
McKinsey said realised gross returns after 2007 have dropped to just 7% from 21% in the previous years, citing various factors including a slowing economy and expensive valuations.
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Source: Business Standard
Q&A by SSE, SZSE, CSDC Officials on Lowering Charging Standards for A-share Trading, Settlement
July 1, 2015--Q: The Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing Corporation Limited (CSDC) dramatically lowered handling fee and transfer fee for A-share trading in 2012. Will they consider further lowering the charging standards in the near future?
A: In order to further cut investors' trading cost, the SSE, the SZSE and CSDC, upon study, plan to lower the charging standards for A-share trading and settlement.
The handling fee for A-share trading bilaterally charged by the SSE and the SZSE will be adjusted from 0.0696‰ to 0.0487‰ of trading amount, with a drop of 30%, among which 0.00974‰ will be forwarded to China Securities Investor Protection Fund Corporation Limited and 0.03896‰ charged by the exchange.
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Source: Shanghai Stock Exchange
Vietnam to end foreign investment limits for some companies
June 30, 2015--In a decree posted on the government's website, Vietnam said it planned to scrap rules currently forbidding foreigners from owning more than 49 per cent of a company.
In a decree posted on the government's website, Hanoi said it planned to scrap rules currently forbidding foreigners from owning more than 49 per cent of a company.
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Source: Channelnewsasia.com
Chinese Shares Fell Into A Bear Market On Monday
June 30, 2015--Chinese stocks have surged over the past 12 months with the Shanghai Composite Index rising 152 percent and reached a 52-week high through June 12, and the market cap of Chinese stocks rose above $10 trillion for the first time ever, however stocks changed direction and recently suffered their biggest two-week plunge since December 1996
after falling over 20 percent and fell into a bear market on Monday.
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Source: Emergingequity.com
Bassanese's Market Insights: How far will business investment fall next year?
June 30, 2015--By far the biggest negative economic news in recent months was the shock slump in business investment expectations in the Australian Bureau of Statistics (ABS) March 2015 quarter capital expenditure survey.
This note looks at the relationship between the survey and the actual level of business investment subsequently revealed in the national accounts. The note suggests that while we should be reasonably confident business investment will be weak next financial year, it is still, at this stage, by no means clear if it will be dire enough to produce a recession.
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Source: Research Affiliates
Citigroup Overtakes JPMorgan as Top U.S. Derivatives Dealer
June 29, 2015--Citigroup Inc. overtook JPMorgan Chase & Co. to become the largest derivatives dealer in the U.S.
The firm's derivative contracts as measured on a notional basis were $56.6 trillion at the end of the first quarter, according to data compiled by the Office of the Comptroller of the Currency and released Monday.
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Source: Bloomberg
BlackRock to Start Using Shanghai-Hong Kong Exchange Link
June 29, 2015--BlackRock Inc., the world's largest money manager, plans to start using the Shanghai-Hong Kong exchange link, endorsing a program that has so far been slow to lure international investors.
The firm's Hong Kong-domiciled China A-Shares Fund plans to invest part of an initial $60 million via the connect after a round of successful tests, said Marc Desmidt, BlackRock's head of strategic product management for Asia Pacific.
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Source: Bloomberg
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