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DB-Global Equity Index and ETF Research-Asia-Asia-Pac ETF Market Weekly Review:ETP market recorded $1.5bn inflows in August
September 7, 2012--Market Review
Last week, all the markets in the Asia-Pacific region were in negative territory. From north to south, Japan (Nikkei 225) lost 2.54%, Korea (KOSPI2) fell by 1.25%,
China (CSI 300) decreased by 3.11%, Hong Kong (HSI) was down by 2%, Singapore (FSSTI) slid by 0.82%, and Australia (S&P/ASX 200) declined by 0.76% over the previous week.
New ETP launches
Last week, nine new products were launched in the Asia-Pacific ETP market. E Fund Management listed one equity ETF on Hong Kong Exchange tracking the CSI 100 Index. CSOP Asset Management made its debut with a maiden equity ETF listing on Hong Kong Exchange tracking the FSTE China A50 Index. Further, Hanwha Investment Trust Management listed seven Equity ETFs on Korea Stock Exchange. Four of these ETFs track FnGuide Sector Indices (Chemical, Iron & Metal, Shipbuilding & Transportation and Auto respectively). Other three ETFs track FnGuide Defensive Index, FnGuide Market Leader Index and FnGuide Dividend Index respectively. (See Figure 5 for further details).
ETP Monthly Flows
Asia-Pacific ETP market recorded monthly cash inflows of $1.5bn for the month of August, taking the YTD cash flows to +$22.3bn or 24.4% of last year’s end AUM. This includes $1.1bn of inflows from two new ETFs with China focus. Prior to that, Asia-Pacific region recorded monthly flows of $13.4bn, $4.4bn and $2.4bn for May, June and July respectively. Within Equity products, ETFs offering exposure to China, South Korea and Japan received robust cash inflows of $1.2bn, $1bn and $0.3bn respectively, while Taiwan focused ETFs experienced outflows of $0.4bn. Further, Leveraged Strategy ETFs recorded outflows of $0.5bn.
Turnover Review
Asia-Pacific ETP turnover totaled $5.5bn for last week, 3.2% up from the previous week’s total. South Korea continues to be on top of the turnover ranking with $2.6bn, followed by China ($1.3bn), Hong Kong ($0.7bn), Japan ($0.4bn), and Singapore ($0.3bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Short Strategy, and Asia Pac Developed Country ETFs recorded total turnover of $2.7bn, $1.2bn, $0.7bn and $0.6bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $76m.
Asset Under Management Review
Last week, Asia-Pacific ETP AUM ended at $113.1bn after $1.6bn decline over the previous week. On a year to date basis, Asia-Pacific ETP assets are up by $21.6bn or 23.6% above last year’s closing.
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http://pull.db-gmresearch.com/p/525-9990/83340111/Asia-Pac_ETF_Market_Weekly_Review__6_sept.pdf
Source: Deutsche Bank - Equity Research - Asia Pacific
Thailand's SET Index hits new 16-year high
September 7, 2012--The Stock Exchange of Thailand's (SET) main stock
index (SET Index) closed up at 1,246.10 points today, a new high in the past 16
years and two months, making it the best performer in Asia since the start of this year.
In addition, SET's new trading platform, SET CONNECT, ran with full
efficiency throughout the first week of its operation, while trading via the
Internet gained a record number of concurrent users.
SET President Charamporn Jotikasthira said the SET Index closed up 2.18 points, or 0.18 percent, at 1,246.10 points, its highest level since July 5, 1996.
Thus, the SET Index has risen 21.53 percent since the start of this year, being the top index performer among Asia's main stock markets, reflecting the attractiveness of the Thai stock market and strong fundamentals of Thai listed companies. Today's SET Index rise followed rallies of other stock markets in Asia after the European Central Bank's announcement of its bond buying scheme eased investor's concerns about the future of the euro currency.
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Source: Stock Exchange of Thailand (SET)
Asia calls for harmony on Dodd-Frank rules
September 5, 2012--Ever since regulators in the US started fleshing out the details of how to implement the landmark Dodd-Frank Act-the most sweeping financial market reform in decades -Europe has frequently complained about how the law might apply across the pond.
Now it’s Asia’s turn to cause a stir.
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Source: FT.com
Indian banks face Basel III challenge
September 5, 2012--Indian banks will have to bring in an additional capital of Rs 5 lakh crore to meet the Basel III norms, RBI Governor D Subbarao said.
Basel III norms will be implemented in a phased manner by March 2018.
Of the total Rs 5 lakh crore additional capital required under Basel III, the share of equity capital has to be 1.75 lakh crore and non-equity Rs 3.25 lakh crore, he said.
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Source: Business Today
Shenzhen Securities Information Company and FTSE Group sign MOU to explore possibility of developing new suite of indices
September 4, 2012--Shenzhen Securities Information Co. Ltd ("SZSE Securities Information") and global index provider FTSE Group ("FTSE") have signed a memorandum of understanding (MOU) to facilitate the development and promotion of new indices for the China capital markets.
Under the MOU, Shenzhen Securities Information and FTSE will undertake index-related research and development projects and leverage one another’s strengths promoting indices to Chinese domestic and international investors.
FTSE was the first global index provider to enter the China market. Since 2001, FTSE has created a comprehensive suite of benchmark and tradable A Share indices which are widely used by domestic and international investors. Increasingly, investors are looking to supplement existing benchmark approaches with innovative indices offering unique access to the China A Share market.
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Source: FTSE
SSE Environmental Protection Industry Index，CSI Environmental Protection Industry Index To Be Launched
September 3, 2012--Designed to serve as new investable benchmarks for investors, SSE and CSI today announced the upcoming launch of SSE Environmental Protection Industry Index，CSI Environmental Protection Industry Index on September 25th 2012.
Regarding the methodologies and more details of the above indices, please refer to the official website of SSE (www.sse.com.cn) and CSI (www.csindex.com.cn).
Source: Shanghai Stock Exchange
ETF rules seen issued by month's end
September 2, 2012--THE SECURITIES and Exchange Commission (SEC) hopes to release by the end of the month the long-anticipated rules on exchange-traded funds (ETFs), a top official of the regulator said over the weekend.
“Our self-imposed deadline is end of September. Comments still have to be considered,” SEC Chairman Teresita J. Herbosa said in a text message last Saturday, adding that remarks private sector representatives made in past consultations are now being consolidated.
An ETF is similar to a mutual fund which will allow a market player to invest in a basket of stocks through a single security, which then tracks and matches yields of a market index. The Philippine Stock Exchange (PSE) has been pushing ETFs’ revival to grow and diversify the country’s equities market after their operation for a few months in 2003.
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Source: Business World Online
China: Rising unemployment pressures
September 2, 2012--China's PMI in August is 49.2-below market consensus of 50 and July's reading of 50.1. In particular, we would like to highlight the rising unemployment pressures, especially for youth.
We also note that August PMI suggests major risk has shifted to the domestic side, with the slowdown in the economy starting to drag on large enterprises. Monetary policy has already missed the best window for easing as headline inflation will rebound from this point. The clock is ticking, yet sign-off on any stimulus package will have to wait until after the political transition is fully settled.
Unemployment pressures have been rising, especially for youth
The PMI employment index tracks the unemployment pressures better than the official unemployment data, in our view. The survey includes 820 enterprises, and a number above 50 means expansion. The PMI employment index usually rebounds after Chinese New Year (Figure 1), when rural workers return to their work in urban centres, and during summer as graduates enter the job market.
view the China: rising unemployment pressures report
Source: Mirae Asset Securities (HK) - Global Research Center
India posts 5.5% quarterly growth
August 31, 2012-- India logged slightly faster quarterly growth of 5.5% on Friday, and analysts said the nation's economy may have "bottomed out" though any recovery would be modest.
While growth is still stuck around three-year lows, the official figure for the three months to June marked a small improvement on the previous quarter's 5.3% expansion and marginally outpaced market forecasts.
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Source: FIN24
Opportunities with the Opening of China's Futures Market
August 30, 2012--On August 20th 2012, SMK, a financial research institute in China, released the latest China's Financial Market Investment Report.
The report stated that: "China will introduce a slew of financial opening policies. Foreign capital will be able to enter China directly, and it will provide a huge opportunity for the U.S. and European financial institutions."
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Source: SMK
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