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Bassanese's Market Insights: Fed getting ready to hike
December 18, 2014--There appears much confusion in markets following changed language by the US Federal Reserve after the December FOMC meeting.
The Fed's latest statement dropped reference to keeping interest rates on hold for a "considerable time" following the end of its quantitative easing program in October, and instead suggested it "can be patient in beginning to normalise the stance of policy."
Yet the Fed then also said this change in language was "consistent with its statement" in October.
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Source: BetaShares
STOXX licenses STOXX Global 1800 Travel & Leisure Index to Daiwa Securities
December 18, 2014--STOXX Limited, a leading provider of innovative, tradable and global index concepts, has licensed the STOXX Global 1800 Travel & Leisure Index to Japan's Daiwa Asset Management Co. Ltd. for an active, non-listed mutual fund. Daiwa licensed the USD gross return version of the index.
"We are seeing more success in Asia, particularly Japan, where this deal represents our fourth license this year,"c said Hartmut Graf, chief executive officer, STOXX Limited. "Investor interest in sector indices is rising, and we provide a variety of sector indices globally and for many regions of the world."
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Source: STOXX
New Asian oil product flows drive up derivatives trading
Derivatives link to physical trading gets stronger
As U.S. oil output rises, Asia expands refining capacity
Asian subsidy cuts also trigger rising volumes
December 17, 2014--Asia's growing oil product flows, tied to massive new refinery investments, are driving a big rise in derivatives trading in the region with volumes for diesel, jet fuel and gasoline are all set to rise sharply this year.
Refining capacity in China rose by almost 900,000 barrels per day (bpd) between 2012 and 2013 to 13 million bpd, according to the U.S. Energy Information Administration, and capacity in the Middle East is also up.
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Source: Reuters
Stamp duty waiver could spur Hong Kong ETF market
December 17, 2014--The proposed stamp duty waiver for all Hong Kong-listed ETFs would make the city the most attractive place in Asia to launch these investment products, according to law firm Deacons.
The Hong Kong government has released its draft legislation to waive stamp duty for the transfer of shares or units of all ETFs in the territory. The bill will be introduced into the Legislative Council on December 17.
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Source: Asia-Asset Magazine
LIC Nomura Mutual Fund Launches First G-Sec Long Term ETF in Asia
First structured G-Sec Debt product in India
December 17, 2014--
An open ended, index linked exchange traded fund
Units available at par (Rs.10/-) during the NFO
Option-Growth only
Minimum application amount during NFO- Rs. 5000 & in multiples of Rs.1 thereafter
Scheme benchmark-GSEC10 NSE Index
NFO opens on: 17 December, 2014
NFO closes on: 22 December 2014
LIC Nomura Mutual Fund today announced the launch of LIC Nomura MF G-Sec Long Term ETF, an open ended, index linked exchange traded fund which offers tax free capital gains post 3 years. The product is designed keeping in mind the investors who are seeking medium to long term income and to generate comparable return subject to tracking error.
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Source: NewsVoir
BetaShares Weekly Newsletter-LICs v. ETPs: Know the differences!
December 16, 2014--With strong growth in the number of self-managed super fund and other self-directed investors wanting to make their own investments, the popularity of ASX-traded investments-such as exchange traded products (ETPs) and listed investment companies (LICs) is clearly on the rise.
As at end November, there were 64 LICs listed on the ASX, with $25.9 billion funds under management (FUM)-a rise of 12.1% over the past year. By contrast, there were 98 ETPs on the market, with FUM of over $14 billion-with very fast growth of 45.5% over the past year.
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Source: BetaShares
Shanghai-Hong Kong Trading Link Has a Slow First Month
Stock Connect Demand Stayed Tepid Despite Rally in Chinese Shares
December 16, 2014--A month after Beijing made one of its biggest moves ever to open up its capital markets with a trading link between Shanghai and Hong Kong,
demand remains tepid for the program despite an explosive rally in Chinese stocks.
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Source: Wall Street Journal
CESC Launches New Index Series on Shanghai-Hong Kong Stock Connect
December 15, 2014--China Exchanges Services Company Limited (CESC) today (Monday) launched a new index series on the Shanghai-Hong Kong Stock Connect (Stock Connect) programme.
The series is composed of the CES Shanghai-Hong Kong Stock Connect 300 Index (CES SHSC300) and CES Stock Connect Hong Kong Select 100 Index (CES SCHK100). The CES SHSC300 and the CES SCHK100 today closed at 3,511.26 and 4,355.36 respectively.
The CES SHSC300 consists of the top 200 A shares which are listed in Shanghai and eligible for Stock Connect and the top 100 Stock Connect-eligible stocks listed in Hong Kong. It is the first Stock Connect-related index to track the overall performance of stocks eligible for the scheme.
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Source: China Exchanges Services Company Limited (CESC)
China banks push to use RMB collateral in derivative deals
December 15, 2014--Collateral use to become latest stage in RMB internationalisation process with China banks putting pressure on global firms to revise their approach to the yuan A number of landmark changes over the past 18 months have accelerated RMB internationalisation and signs are now emerging that China wants to rely less on the US dollar in offshore derivatives contracts,
an area historically dominated by the world's reserve currency. Earlier this year the People's Bank of China widened the trading band of...
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Source: Risk.net
IMF Working Paper-Does Inflation Slow Long-Run Growth in India?
December 15, 2014-- Summary: This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and GDP growth in India.
We collect data on a sample of 14 Indian states over the period 1989-2013, and use the cross-sectionally augmented distributed lag (CSDL) approach of Chudik et al. (2013) as well as the standard panel ARDL method for estimation-to account for cross-state heterogeneity and dependence, dynamics and feedback effects. Our findings suggest that, on average, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This suggest the need for the Reserve Bank of India to balance the short-term growthinflation trade-off, in light of the long-term negative effects on growth of persistently-high inflation.
view the IMF Working Paper-Does Inflation Slow Long-Run Growth in India?
Source: IMF
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