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Premia Partners announced fee reduction for Premia Vietnam ETF and change of underlying index
May 1, 2024--Premia Partners, a leading ETF provider from Hong Kong, announces today fee reduction of its Premia Vietnam ETF (the ETF) and change of the underlying index to S&P Vietnam Core Index (USD) NTR (the index) with immediate effect.
Total expense ratio of the ETF would be lowered from 0.75% to 0.70% per annum, reflecting Premia's commitment to offering competitive pricing and enhancing value for investors. The physically replicated ETF offers cost-efficient and convenient access to the fast-growing Vietnam equity markets, and the new index was introduced to enhance the asset allocation and risk diversification of the ETF and better reflect opportunities from continued growth and development of the Vietnam stock markets.
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Source: Premia Partners
IMF-Asia's Growth and Inflation Outlook Improves, but Risks Remain
April 29, 2024--The regional outlook has strengthened as price pressures have moderated, although China's property market correction and geoeconomic fragmentation remain key risks.
The outlook for Asia and the Pacific in 2024 has brightened: we now expect that the region's economy will slow less than we previously projected as inflation pressures continue to dissipate.
We have raised our regional growth forecast for this year to 4.5 percent, up 0.3 percentage point from six months earlier, after a 5 percent expansion in 2023. The revision reflects upgrades for China, where we expect policy stimulus to provide support, and India, where public investment remains an important driver, making it the world's fastest-growing major economy. In a still subdued external environment, robust private consumption will remain the main growth driver in Asia’s other emerging market economies. The Asia growth forecast for 2025 is unchanged at 4.3 percent.
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Source: imf.org
MetaComp Announces Strategic Partnership with Harvest Global Investments to Explore Bringing HK-Listed ETFs to Investors in Singapore and Beyond
April 29, 2024--MetaComp Pte Ltd, a leading Monetary Authority of Singapore (MAS) licensed Singapore fintech company that specializes in blockchain technology and digital assets, and its affiliates (collectively referred as MetaComp), is proud to announce a strategic partnership with Harvest Global Investments Limited (HGI), a leading asset management company licensed with the Securities and Futures Commission of Hong Kong.
HGI is among the pioneering Chinese asset management firms to establish subsidiaries abroad. The Memorandum of Understanding executed between MetaComp and HGI marks a significant step towards potentially broadening the accessibility of innovative financial products globally with special emphasis on the recently announced cryptocurrency spot ETFs which will be expected to start trading on the Hong Kong Stock Exchange from 30 April 2024 onwards. This follows the announcement by HGI that they have received authorization from Hong Kong's Securities and Futures Commission to launch the highly anticipated cryptocurrency ETFs.
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Source: MetaComp Pte Ltd
Option2Trade Becomes Attractive Hong Kong Set to Approve First Spot Bitcoin (BTC) ETF's, Alongside Ethereum ETF's Once Approved
April 11, 2024--In the rapidly evolving landscape of cryptocurrency investment, Option2Trade (O2T) has emerged as a platform of choice for traders seeking exposure to digital assets like Bitcoin (BTC) and Ethereum (ETH). As Hong Kong moves closer to approving its first spot Bitcoin ETFs, with Ethereum (ETH). ETFs to follow suit once approved, the attractiveness of Option2Trade (O2T) as a versatile trading platform is on the rise. In this article, we delve into the significance of Hong Kong's ETF approvals and their implications for Option2Trade (O2T) traders.
Hong Kong's Move Towards ETF Approval
Hong Kong, known for its bustling financial markets and regulatory innovation, is poised to make a significant stride in the realm of cryptocurrency investment. The Securities and Futures Commission (SFC) of Hong Kong is reportedly on the verge of approving the first spot Bitcoin ETFs, paving the way for investors to gain exposure to Bitcoin (BTC) through regulated investment vehicles. Additionally, Ethereum (ETH) ETFs are expected to follow suit once the necessary regulatory approvals are obtained.
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Source: Option2Trade
China's continued focus on the same export-driven model is bound to hit an impasse
April 2, 2024--China's 'Two Sessions'- the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC)- took place from 4-11 March in Beijing. Premier Li Qiang delivered his first 'work report' which marked both the beginning of a new era for China and the 75th anniversary of the People's Republic of China (PRC).
This is the first year that China is experiencing full economic normalisation after the pandemic, as a positive push from the end of mobility restrictions under Zero-Covid policies in 2022 distorted economic data in 2023.
Li Qiang's first 'work report' delivered on 5 March signifies a departure from the previous decade under Premier Li Keqiang's leadership. The report puts more emphasis on the supply side rather than on the demand side of the economy. The focus on 'new productive forces' in the report indicates that China aims to double down on manufacturing and advanced manufacturing, while demand-oriented stimulus measures seem to be less relevant. Foreign investors were expecting China to announce fiscal and/or monetary stimuli to support the fledging economy. The disappointment of investors was felt in a 2% drop in the Hang Seng Index right after the 'work report' was delivered, which is China's most relevant offshore barometer of foreign sentiment.
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Source: bruegel.org
Five key takeaways from China's annual meeting of parliament
March 12, 2024--China is turning to 'future technologies' to boost is economy as it tries to turn the page on developers' struggles.
China's week-long meeting of the National People's Congress (NPC), which gathered some 3,000 delegates from the political, business and cultural elite in Beijing, has closed without the customary press conference by the country's premier.
The annual meeting of the country's parliament began on March 4 at the Great Hall of the People in Tiananmen Square, with delegates tasked with approving new laws and political appointments as well as assessing a litany of reports from departments across the government.
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Source: aljazeera.com
S.Korea authorities discuss prospects for allowing spot bitcoin ETFs
March 8, 2024--March 4, 2024--South Korean authorities are discussing whether to allow sales of spot bitcoin exchange-traded funds (ETFs) in the country, the financial watchdog chief said on Tuesday.
"Among authorities, I am one of those who are positive about virtual assets, while there are others who are wary, and we need to hear their opinions as well.
We are internally discussing it," said Lee Bok-hyun, governor of the Financial Supervisory Service.
His comments were made in a radio interview in response to a question about authorities' views on spot bitcoin ETFs, which are currently not available to investors in South Korea.
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Source: reuters.com
Phillip Capital Management partners China Universal Asset Management to launch mainland-linked ETF
March 7, 2024--Phillip Capital Management has partnered with China Universal Asset Management (CUAM) to launch the Phillip-China Universal MSCI China A 50 Connect exchange-traded fund (ETF).
The product will be listed on the Singapore Exchange S68-(SGX) on March 20, with the initial offering period from March 4 to March 14.
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This is in alignment with the establishment of an ETF Product Link between the SGX and the Shanghai Stock Exchange (SSE) last year, aimed at enhancing connectivity between Singapore and China through a master-feeder fund model.
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Source: theedgesingapore.com
Pacific Economic Growth Slowing After Post-Pandemic Rebound
March 5, 2024--Investment in education critical to address significant learning gaps, foster sustainable growth, report finds.
Growth in Pacific island countries is estimated to have slowed in 2023 and is forecast to continue to decelerate in 2024 and 2025 as the temporary boost from the COVID-19 pandemic recovery fades and fiscal policies begin to tighten, the World Bank said in its semi-annual economic outlook for 11 Pacific island countries.
Investments in key drivers of long-term growth-education, in particular-will be crucial to sustaining economic momentum, the World Bank's new report, Pacific Economic Update- Back on Track? The Imperative to Invest in Education says.
Growth in 2023 among the Pacific island countries surveyed eased to an estimated 5.5% following a historically high expansion of 9.1% during 2022, the first year of recovery from the pandemic. Economic activity was buoyed by tourism, household consumption and remittances, and was further supported by accommodative fiscal policies.
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Source: worldbank.org
China cuts key interest rate in the latest move to boost its ailing property sector
February 20, 2024--China's central bank announced Tuesday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures on the ailing property market.
The 5-year rate was lowered by 0.25 basis points to 3.95% while the 1-year rate remains at 3.45%. It was the first time the 5-year rate was cut since May, and analysts said it was the largest cut on record for that rate.
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Source: apnews.com
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