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Chinese Currency Hits Record High Against Dollar
Further Delay in Fed 'Tapering' Seen
October 11, 2013--The Chinese yuan hit a record high against the U.S. dollar in Hong Kong on Friday, buoyed by positive news about the U.S. debt ceiling and optimism that the Federal Reserve won't quickly wind down its monetary stimulus.
In the offshore market, where the currency is freely traded, the yuan hit 6.1020, compared with 6.1149 on Thursday afternoon.
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Source: Wall Street Journal
FMIC raises First Metro ETF capital to P10B
October 10, 2013--First Metro Investments Corp. is increasing its soon-to-launched exchange traded funds or ETFs to P10 billion from P3 billion, saying demand is going to be higher from local and foreign investors.
The company intends to seek Securities and Exchange Commission approval to raise the authorized capital stock of First Metro Exchange Traded Fund to P10 billion, Roberto Juanchito Dispo, First Metro Investments president, said Thursday.
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Source: GMA News
Shadow banking seen accounting for 40% of GDP-report
October 10, 2013--The size of China's shadow banking sector reached 20.5 trillion yuan ($3.4 trillion) by the end of 2012, equivalent to 40 percent of the country's GDP last year, the Xinhua News Agency reported Wednesday, citing a report published by a government think tank.
The report, released Tuesday by the Chinese Academy of Social Sciences (CASS), differed from official statistics, according to which the size of the shadow banking market in China was 14.6 trillion yuan by the end of last year, equivalent to 29 percent of the country's GDP.
The shadow banking sector's share of the country's total banking assets was 16 percent by the end of 2012, according to the CASS, which is also higher than official calculation of 11 percent, the report said.
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Source: Global Times
IMF-Asia and Pacific Regional Economic Outlook Update
October 10, 2013--Asia has not been spared by the recent re-pricing of financial assets in emerging markets, encountering a wave of capital outflows in the past few months. The overall impact has, so far, been manageable although some countries have been subject to greater stress.
Tighter global liquidity- and homegrown structural impediments in some countries-will weigh on growth, but for most economies the impact should be partly offset by a gradual pickup in exports to advanced economies and resilient domestic demand. If, however, conditions tighten further we are likely to see even greater differentiation across the region. Those with strong fundamentals and policy credibility will be able to offset imported tightening through lower policy rates and fiscal support. Others that have delayed reforms, left fiscal vulnerabilities untackled, or tolerated too-high inflation may be forced to respond with a procyclical policy tightening. Announcing credible medium-term reforms would rebuild confidence and ease policy trade-offs.
view the IMF Asia and Pacific Economic Outlook: October 2013 Update
Source: IMF
HKFE Announces Revised Margins for H-shares Index and Mini H-shares Index Futures
October 10, 2013--Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Thursday, 10 October 2013, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below.
The adjustments are based on the clearing company’s normal procedures and standard margining methodology.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
Rules pending for new wave of China fund launches
October 9, 2013-- Regulatory detail is expected soon on how sunshine-fund firms can sell traditional mutual funds.
StarRock is among those already planning a new division to tap the retail market.
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Source: Asian Investor
South Asia Economic Focus: Turmoil in Global Capital Markets is a Wake-Up Call for South Asia, World Bank Says
October 9, 2013-Economic growth in South Asia will be modest this year and in 2014. At such a pace, the goal of ending extreme poverty by 2030 will not be attained.
Governments must work harder on reforms to raise growth in a region where most of the world's poor live, the World Bank said today.
According to the South Asia Economic Focus report, South Asia was the second-fastest growing region in the world in the aftermath of the global crisis. However, its recent performance has been less stellar, and it has been sustained by potentially volatile portfolio inflows. More stable Foreign Direct Investment (FDI) in the region is low, half that of other regions relative to GDP; inflation is twice that of other regions and fiscal deficits and debt-to-GDP ratios are high.
view the South Asia Economic Focus Fall 2013 report-A Wake-Up Call
Source: World Bank
TSE-ETF/ETN Monthly Report for Sep 2013
October 9, 2013--The ETF/ETN market in September saw a swing in average daily trading value, reaching its third highest level in history.
In September, the daily average trading value at about JPY 76.9 billion, up 14% from August, has hit the third highest level in history following June and May this year, surpassing the July's record of approximately JPY 76 billion.
The trading of leveraged ETFs remained active with ETFs tracking both TOPIX and Nikkei, outperforming the overall ETF/ETN market growth.
Following Tokyo's selection as the host city for the 2020 Olympic Games, trading increased for ETFs tracking "TOPIX-17 CONSTRUCTION & MATERIALS," while ETFs tracking the Tokyo Stock Exchange REIT Index gained popularity with two issues ranking 14th and 20th for trading value.
view the TSE ETF/ETN Monthly Report for Sep 2013
Source: TSE (Tokyo Stock Exchange)
DB-Synthetic Equity & Index Strategy-Asia-Pac ETF+ Quarterly Directory-Q3 2013 ETPs
October 8, 2013--This document includes all Asia-Pacific listed exchange-traded funds (ETFs) and exchange-traded commodities (ETCs). The directory is organized by country and asset-class-related sub sections.
Within each sub section it has been sorted by ETP issuer by alphabetical order and by AUM in descending order. A number of key information points per product have been included in order to enable the reader to get an overview in their own area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US). If you have any questions about any of the products listed, or any suggestions on how to improve the directory going forward, please do not hesitate to get in touch.
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Source: Deutsche Bank-Synthetic Equity & Index Strategy-Asia
Constituent Change In TOPIX New Index Series
October 7, 2013--Tokyo Stock Exchange, Inc. (TSE) will make changes to the constituents of the TOPIX New Index Series, including TOPIX Core30, TOPIX 100, TOPIX 500 and TOPIX 1000, effective on Friday, October 28, 2011.
Indices in the TOPIX New Index Series are free-float adjusted market capitalization-weighted indices based on companies listed on the TSE First Section and are widely used as sub-indices of TOPIX.
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Source: TSE
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