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China's economic growth slows to 7.6%
The second quarter's 7.6% pace-China's weakest economic expansion in three years-meets analysts' estimates.
July 13, 2012--China said its economy grew 7.6% in the second quarter compared with a year earlier. It was the weakest pace of expansion in three years but in line with analysts' expectations.
Declining investment in real estate and infrastructure as well as shrinking exports to Europe and the U.S. have contributed to the slowdown in the world's second-largest economy.
"It's not easy for China to achieve a 7.6% growth rate," Sheng Laiyun, a spokesman for China's National Bureau of Statistics, said at a news conference in Beijing on Friday. "It's already quite an achievement amid the global economic situation."
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Source: Los Angeles Times
South Korea central bank cuts rates in shock move, more to come
July 11, 2012--The Bank of Korea finally joined the near-universal rush to ease monetary policy on Thursday, cutting its benchmark rate for the first time in more than three years to fend off the effects of a global slowdown.
The 25 basis point cut to 3.00 percent surprised to most economists: Only three of 26 polled by Reuters had expected rates to be reduced at Thursday's meeting, the first cut since February 2009, but many now expect at least one more cut this year.
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Source: SEC.gov
MCX, Financial Tech gain on Sebi nod for new asset classes
July 11, 2012--The Multi Commodity Exchange of India and Financial Technologies Ltd, the promoters of MCX Stock Exchange (MCX-SX),rallied more than 5 per cent each in early trade today after MCX-SX got the nod from the market regulator to start operations as a full-fledged stock exchange.
MCX Stock Exchange - promoted by FT and commodity exchange MCX - said in a press release on Tuesday night that it had received approval from the Securities & Exchange Board of India to begin operations in new asset classes. At present, MCX-SX offers trading in currency futures.
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Source: The Economic Times
TSE-ETF/ETN Monthly Report for Jun 2012
The trading value of the Bull/ Bear ETFs increased
July 10, 2012--In June, even as the overall trading value of the ETF/ETN market decreased from the previous month, that of two ETFs, "Bull 2x ETF" (1568) and "TOPIX Bear -1x ETF" (1569) rose by 52.86% and 7.76% respectively.
Among issues which showed an increase in trading value, "NEXT FUNDS NOMURA Crude Oil Long Index Linked Exchange Traded Fund" (1699) grew by 205.64% versus the previous month as the product drew attention when WTI crude oil futures momentarily dipped below US$80 per barrel in late June.
Same as last month, ETF Securities' Natural Gas ETF (1689) ranks top in terms of 30 days' volatility
view the TSE ETF/ETN Monthly Report for June 2012
Source: Tokyo Stock Excchange (TSE)
DB-Equity Research-Asia-Pac ETF Market Weekly Review : ETP AUM added $1.1bn amid rising equity markets
July 9, 2012--Market Review
Last week, all the markets in the Asia-Pacific region were in positive territory. From north to south, Japan (Nikkei 225) climbed 0.16%, Korea (KOSPI2) was up by 0.07%, China (CSI 300) increased by 0.45%, Hong Kong (HSI) advanced by 1.85%, Singapore (FSSTI) rose by 3.48%, and Australia (S&P/ASX 200) grew by 0.26% over the previous week.
New Launch Review
There was no new ETP listing in the last week.
Turnover Review
Asia-Pacific ETP turnover totaled $4.5bn for last week, 28.1% down from the previous week’s total. South Korea continued to be on top of the turnover ranking with $1.9bn, followed by China ($1.2bn), Hong Kong ($0.6bn), Japan ($0.6bn), and Taiwan ($0.1bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $2bn, $1bn, $0.7bn, and $0.5bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $82m for the last week.
Assets Under Management Review
Last week, Asia-Pacific ETP AUM increased by $1.1bn and ended at $114.2bn. On a year-to-date basis, Asia-Pacific ETP market is up by $22.7bn or 24.8% above last year’s closing.
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Source: Deutsche Bank - Equity Research - Asia Pacific
China inflation falls, giving leeway for stimulus
June 9, 2012--China's inflation fell to a 29-month low in June, giving Beijing more room to fight a deepening economic slowdown.
Consumer prices rose 2.2 percent over a year earlier, down from May's 3 percent, government data showed Monday. Food costs rose 3.8 percent.
Lower inflation clears the way for Beijing to cut interest rates or boost spending to reverse China's deepest slump since the 2008 global crisis with less danger of igniting a spike in politically sensitive living costs. Premier Wen Jiabao warned over the weekend that the world's second-largest economy still faces "huge pressure" to decelerate.
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Source: Todays Zaman
SGX ready to trade RMB securities
July 6, 2012--Singapore Exchange (SGX) announced today it is ready to list, quote, trade, clear and settle securities denominated in Chinese Renminbi (RMB).
The initiative enhances opportunities for issuers and investors keen to participate in the internationalization of the RMB and the robust Chinese economy. SGX’s addition of RMB securities trading complements the offshore RMB bonds already listed on the exchange. SGX is also the world’s first exchange to offer the clearing of OTC FX forwards for RMB.
Issuers listing RMB securities on SGX can also choose to offer dual currency trading, giving their investors the flexibility to trade the security either in RMB or Singapore dollars.
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Source: Singapore Exchange (SGX)
SEC seeks comments on proposed ETF rules
July 6, 2012--The Securities and Exchange Commission en banc has received the proposed rules and regulations on Exchange Traded Funds (ETF).
The SEC invited market participants to submit comments on the proposal.
ETFs are funds that track an index, a commodity, or a basket of assets but trade like a stock on a stock exchange.
Under the proposed rules, the ETF is classified as a "new investment product which is similar to mutual fund but has distinct characteristics."
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Source: ABS-CBNnews.com
Asian Investors Warming to Volatility Trading
July 5, 2012--From FinanceAsia.com: In the US and Europe, an increasing number of investors, and some corporations, have woken up to the potential of volatility as an investable asset class that provides effective hedging and, hopefully, profits in difficult market conditions.
A strategy that is particularly appealing in times of extreme market turbulence, volatility displays inverse correlation with traditional asset classes and has been making Western hedge funds money throughout the financial crisis.
Source: Albourne Village Newsletter
Result of the JFTC's Review of the Business Combination between Tokyo Stock Exchange Group, Inc. and Osaka Securities Exchange Co., Ltd
July 5, 2012--Today, Tokyo Stock Exchange Group, Inc. and Osaka Securities Exchange Co., Ltd. (collectively "Companies") received a "Notification To The Effect That a Cease and Desist Order Will Not Be Issued" from the Japan Fair Trade Commission (hereafter the "JFTC").
Upon receipt of this notification, the business combination between the Companies has been approved by the JFTC.
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Source: Tokyo Stock Exchange
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