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ESMA unable to recognize equivalence of Hong Kong's clearing
October 14, 2013--Because the laws implementing Hong Kong's over-the-counter clearing scheme haven't been adopted, Hong Kong is falling behind other Asian markets in gaining equivalency recognition from the European Securities and Markets Authority.
"While it is unclear when the primary legislation in Hong Kong will be passed, ...
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Source: Smartbrief
Index Tracker For The Masses
October 14, 2013--Recently, the SPDR Straits Times Index Exchange Traded Fund (SGX: ES3), or STI ETF, that tracks the Straits Times Index (SGX: ^STI), was reclassified as an Excluded Investment Product (EIP).
Previously, the STI ETF was classified as a Specified Investment Product (SIP) and investors looking to invest in the ETF had to undertake Customer Knowledge Assessment with their brokers to show that he or she has the relevant knowledge or experience to invest in such shares.
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Source: The Motley Fool
Demand for SGX FTSE China A50 Index Futures continues to grow fast
October 11, 2013--The liquidity and volume in the SGX FTSE China A50 Index Futures continued to grow fast, the Singapore Exchange said Friday.
The contract achieved an average daily volume of 88,729 contracts and an open interest level of 202,547 contracts in September.
Denominated in U.S. dollar, the SGX A50 Futures are the only offshore futures tracking the China A-shares market.
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Source: Shanghai Daily
REITS: Sebi throws a lifeline to developers, realty stocks perk up
October 11, 2013--Market regulator Sebi is soon likely to allow real estate investment trusts, or REITs, in India to provide investment avenues for investors.
REITs are trading units similar to mutual funds and Exchange Traded Funds for stocks, bonds and other securities. They also serve as financing instruments for liquidity-starved developers. The timing of this move is important keeping in mind the prevailing paucity of funds and the ongoing slowdown in the real estate sector.
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Source: Firstpost.com
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
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