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Singapore growth quells recession fears
January 2, 2013--Singapore's economy grew in the fourth quarter. avoiding a technical recession despite disappointing growth figures for 2012, government data showed on Wednesday.
Gross domestic product (GDP) rose 1.1% year-on-year in the three months to December from zero growth in the previous quarter, the Ministry of Trade and Industry said.
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Source: FIN24
Thailand's SET Index closes at 1,407 points due to agreement preventing fiscal cliff
January 2, 2013--The Stock Exchange of Thailand's (SET) main stock
index (SET Index) closed up 15.52 points, or 1.11 percent, at 1,407.45 points today, a new high in the past 16 years and eleven months, or since February 7, 1996.
The increase is in the same range as that of global main indices, which
rose 1-3 percent.
SET President Charamporn Jotikasthira said the rise of the SET Index was supported by today's positive news that the U.S. Senate and House of Representatives had approved a deal to prevent the country from falling off a so-called fiscal cliff and into recession.
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Source: Stock Exchange of Thailand's (SET)
Securities Commission Malaysia (SC) -Capital market laws amended to drive innovation and promote market efficiency
January 2, 2013--Securities Commission Malaysia (SC) today announced the coming into force of the Capital Markets and Services (Amendment) Act 2012 (CMSA 2012), together with the issuance of several guidelines, which aim to encourage market and product innovation, promote market efficiency, and allow more informed investment decisions.
CMSA 2012 introduces a new approval framework that will facilitate the offering of a broader array of capital market products, which will effectively benefit issuers, intermediaries and investors.
The new approval framework distinguishes listed and unlisted capital market products given their distinct characteristics and differing risk profiles and applies the appropriate level of regulation commensurate with the risks attached. This enhances approval efficiency without compromising investor protection.
The SC has also released the Business Trusts Guidelines which allows for greater fund raising flexibility and provides investors with an opportunity to invest in a new asset class. The Guidelines on Private Debt Securities and Sukuk have also been revised to allow public listed companies and banks to offer bonds and sukuk to retail investors.
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Source: Securities Commission Malaysia (SC)
China's economy ends year on high note
China's economy has ended the year on a strong note with two indices showing continued expansion of the country's manufacturing sector.
January 1, 2013--China's economy has ended the year on a strong note with two indices showing continued expansion of the country's manufacturing sector.
The official purchasing managers' index, published on Tuesday, showed that the pace of expansion last month held steady from November.
November's 50.6 reading had marked a seven-month high. Readings above 50 per cent signal expansion.
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Source: Moneycontrol.com
Finance Ministry to delay launch of PSU's exchange traded fund
December 31, 2012--With the blockbuster response to the NMDC issue, the finance ministry is planning to push back the launch of the exchange traded fund of listed state-owned units and to 2013-14 will instead concentrate only on public offers in the current fiscal.
“There is still a lot of planning involved for the ETFs and its unlikely to be finalised by March. The thinking now is to launch it in early 2013-14,” a senior finance ministry official said.
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Source: The Indian Express
Finance Ministry to delay launch of PSU's exchange traded fund
December 31, 2012--With the blockbuster response to the NMDC issue, the finance ministry is planning to push back the launch of the exchange traded fund of listed state-owned units and to 2013-14 will instead concentrate only on public offers in the current fiscal.
“There is still a lot of planning involved for the ETFs and its unlikely to be finalised by March. The thinking now is to launch it in early 2013-14,” a senior finance ministry official said.
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Source: The Indian Express
China's Guotai first in line to track Nasdaq 100
December 31, 2012--China's Guotai Asset Management aims to launch the country's first cross-border exchange traded fund investing in the Nasdaq 100 Index, but the time difference between stock exchanges in China and the US could become a major product design challenge.
The Shanghai-based company submitted its application for the Guotai Nasdaq 100 ETF this month.
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Source: FT.com
Shanghai Futures Exchange to open up to foreign players
December 28, 2012--The Shanghai Futures Exchange (SHFE) will open up to foreign institutions and develop options and other derivative contracts under a plan to become a leading Asia-Pacific bourse over the next five years.
China's only metals futures exchange will broaden its contract offerings beyond commodities and will continue actively developing crude oil futures, financial derivatives, index futures and metals futures options over the next five years, Chairman Yang Maijun said in a new five year development plan for 2013 to 2017.
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Source: Reuters
Nikkei notches up best year since 2005
December 28, 2012--The Japanese stock market has completed its best year since 2005 as investors were swept up by the business-friendly rhetoric of Shinzo Abe, confirmed this week as the country's new prime minister.
The benchmark Nikkei 225 stock average closed on Friday at 10,395, its highest level since March 2011, bringing total gains for the year to 23 per cent. The stock market will be closed next week until Friday for the new year holidays.
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Source: FT.com
China consumers driving economic rebound: survey
December 26, 2012--China's consumers are leading an uneven recovery in the world's second biggest economy that has retailers expecting stronger sales in six months, early results of a national survey showed on Wednesday.
The China Beige Book survey of more than 2,000 executives revealed that the retail sector had the strongest revenue growth and business expectations in the fourth quarter of 2012.
The survey broadly detected a mild economic recovery with the hard-hit sectors of real estate, mining and manufacturing - to a lesser extent - joining retail at the head of the upswing.
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Source: Reuters
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