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Australia: Selected Issues
December 6, 2021-- REIGNITING PRODUCTIVITY GROWTH IN AUSTRALIA1
Unprecedented macro policy stimulus and relatively quick suppression of the virus in 2020 helped the Australian economy recover strongly from the recession induced by the COVID-19 pandemic. Although recent outbreaks pose new near-term challenges, attention is also increasingly turning towards the need to reignite productivity growth, which had slowed significantly before the pandemic.
A strong structural reform push can help address long-standing challenges that constrain productivity growth. Key priorities include increasing productivity-supporting investments in R&D and information and communication technology (ICT) and renewed product market reforms to enhance competitive forces. A. Introduction1.
Productivity growth, the key driver of improvement in living standards, had slowed in many advanced economies heading into the pandemic. As discussed in Adler and others (2017),the widespread slowdown in total factor productivity has been attributed to various factors, including hysteresis effects from the global financial crisis (weak corporate and financial sector balance sheets, combined with elevated uncertainty, held back productivity-enhancing investments) as well as structural headwinds that pre-dated the financial crisis (waning of the ICT boom, slowdown in global trade, and headwinds from demographic changes).
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Source: imf.org
Nearly a third of Singapore's financial assets exposed to climate risk, says central bank
December 6, 2021--The Monetary Authority of Singapore (MAS) has estimated that 30% of financial assets in the island-state could face shifts in valuations or higher costs of doing business as the world transitions to a low-carbon economy.
The figure primarily refers to climate 'transition risk' one of the two channels through which climate change risk is transmitted to the financial system.
The other channel, known as 'physical risk' or the physical impacts of climate change on the economy, was not considered by MAS due to "data limitations as well as the complexity and uncertainty associated with extreme weather events".
The study, which was included in MAS' annual financial stability review published today, did not provide a financial value for the assets it identified.
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Source: responsible-investor.com
Citi applies to re-enter China investment banking market
December 3, 2021--Wall Street group wants to launch a wholly owned business after exiting securities joint venture in 2019.
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Source: FT.com
Thailand's Bitkub plans crypto expansion in SE Asia
December 2, 2021--Bitkub will replicate its crypto exchange model across select SE Asian markets while, in Thailand, it will invest towards developing new product offerings to create more use cases. Bitkub is looking to enter only those SE Asian markets that are still fragmented with no clear market leaders.
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Source: dealstreetasia.com
China-Singapore ETF connectivity plan is 'making good progress', regulator says
December 1, 2021--Statement from the China Securities Regulatory Commission has not elaborate on timeline or other details
China and Singapore are "making good progress" in developing an exchange traded fund connectivity programme, according to a statement from China's securities regulator.
"Currently, there has been positive progress made in a joint programme between Shenzhen Stock Exchange and the Singapore Exchange, and both sides will actively push for early realisation of connecting the ETF markets," according to a transcript of a speech made by Fang Xinghai, vice chair of the China Securities Regulatory Commission.
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Source: ft.com
UOB Asset Management launches world's first APAC green REIT ETF
November 25, 2021--The ETF attracted more than $80m in assets.
UOB Asset Management announced the listing of the UOB APAC Green REIT ETF, attracting more than $80m in assets during the initial offering period, which ended on 18 November.
This is also the world's first ETF that aims to allow individuals to invest in quality repent REITS across the Asia Pacific.
The ETF also aims to replicate the success of the recently launched iEdge-UOB APAC Yield Focus Green REIT Index, done in partnership with SGX and GRESB. 50 higher-yielding REITs across APAC are tracked by the index. Evaluation of these REITS is based on data from GRESB on their environmental performance.
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Source: sbr.com.sg
CSOP's China bond ETF grows 10-fold amid robust foreign inflows
November 15, 2021--A Hong Kong-listed China onshore bond fund saw its size jump 10-fold over the past month on strong money inflows, its asset manager said on Tuesday, underscoring growing foreign interest in the world's second-biggest bond market.
The CSOP Bloomberg China Treasury + Policy Bank Bond Index ETF saw its asset under management (AUM) grow to more than 5 billion yuan ($784.61 million), after attracting "sizable" investments from institutional investors, CSOP Asset Management Ltd said in a statement.
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Source: reuters.com
China will continue separating financial businesses, says c.bank governor
October 22, 2021--China will continue to separate the operation of banking, securities and insurance businesses to maintain a stable financial system, its Central Bank Governor Yi Gang said on Thursday.
In remarks at the Financial Street Forum in Beijing, he said that overly complicated financial business and product design would accelerate risks spreading to other sectors.
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Source: reuters.com
Mirae Asset TIGER US Tech Top 10 INDXX ETF gathers $700 million after six months of launch
October 20, 2021--Indxx is pleased to announce that the Mirae Asset TIGER US Tech Top 10 INDXX ETF (hereinafter referred to as "USTTT", Ticker: 381170 KS) has reached $700 million in assets since its 9 April 2021 launch.
The USTTT Index (Ticker: IUST10T) tracks the performance of the top 10 largest tech-oriented companies that are listed on the NASDAQ Stock Exchange.
Rahul Sen Sharma, Managing Partner at Indxx, said "We're extremely proud of being associated with the TIGER US Tech Top 10 INDXX ETF. The pace of growth of this fund is truly impressive. The highly focused exposure to tech-oriented companies has gained immense traction from Korean investors. Congratulations to the entire team at Mirae Asset Global Investments. We wish them continued success."
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Source: Indxx
Evergrande share trading halt pushes HKEX suspensions to record $61bn
October 19, 2021--Hong Kong's reputation has been hit by indebted developer's lack of updates
Problematic real estate developer Evergrande Stopped trading in an exchange declaration from the latter for Hong Kong-listed shares and shares in the real estate services sector on October 4, the move was said to have taken place prior to the "possible general offer"of the shares.
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Source: ft.com
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