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Thai Bourse Confident In Capital Market Growth Under New Government
June 3, 2011--The Stock Exchange of Thailand (SET) is convinced that the visions of the various political parties relating to the capital market will be beneficial to
the market's growth and are compatible with the Capital Market Development
Master Plan. The SET's policies will thus essentially continue no matter which party leads the next government, and the new administration will be able to utilize the capital market's full potential to drive the economy forward and strengthen the market further.
Major political parties outlined their visions for the capital market should
they form the next government in a recent seminar, "The Thai capital market and promoting Thailand's competitiveness under the new government".. Policies worth
implementing include promoting the Thai agricultural market to lead the region
through merging the Thailand Futures Exchange and Agricultural Futures Exchange, developing the bond market for retail investors, listing quality state enterprises on the Thai Exchange, and promoting the capital market to be the fund-raising center for large-scale utility projects. The seminar was organized by the Federation of Thai Capital Market Organizations.
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Source: The Stock Exchange of Thailand
ETF turnover up 85% on-year in last five months
June 2, 2011-- Turnover for exchange traded funds (ETFs) grew 85 per cent on-year in the last five months, according to the Singapore Exchange (SGX).
And most recently, ETFs have accounted for 10 to 15 per cent of overall trading volume on the exchange - reaching 92 million units in the month of May.
Investment firms like BlackRock are seeing tremendous potential for such passive income investments in Asia and has launched two more ETFs on the SGX on Thursday.
The SGX saw over a billion dollars worth of ETFs changing hands in the month of May, according to its monthly statistics released on Thursday - signalling investors' gradual acceptance and understanding the benefits of ETFs.
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Source: Channel News Asia
Indian groups favour foreign bond markets
June 1, 2011--A growing number of Indian companies and their affiliates are turning to the overseas bond markets to secure cheap funding at a time when high interest rates at home have made domestic fundraising less appealing.
In the past few weeks lender ICICI, miner Vedanta and Tata Motors’ Jaguar Land Rover car unit have raised more than $4bn in the overseas bond markets.
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Source: FT.com
Singapore Exchange to clear Asia FX NDFs by September
May 31, 2011--To become world's first exchange clearing Asian FX NDFS
Hopes regulation will drive take-up
Expected to launch client clearing service early next year
Singapore Exchange said on Wednesday it will start to clear the non-deliverable forwards of emerging Asian currencies, becoming the world's first exchange to offer such services to get ahead of sweeping regulatory changes.
SGX, Asia's second-largest listed exchange by market value, is hoping new regulation in most Group of 20 economies requiring trades in many over-the-counter (OTC) derivatives to be put through a central clearer, will drive the take-up of the service that will launch in September.
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Source: Reuters
China bulls lassoed by growth concerns
May 31, 2011--Only two months ago, Chinese stocks were on a roll. The Shanghai Composite was Asia's best-performing equity index for the year to date and almost every broker in the region was forecasting further gains.
But for the bulls, things have not gone to plan
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Source: FT.com
SSGA says ETF growth means plenty for all providers
May 31, 2011--State Street Global Advisers has said it is not concerned about competing for market share against newcomers wanting to take a chunk out of the Australian exchange-traded funds market.
State Street pioneered ETF trading in Australia and at one time enjoyed 100 per cent market share
It's seven ETF products now account for 62 per cent of market share after Vanguard and Blackrock iShares jumped into the market, now estimated to be worth $5 billion.
But Frank Henze, head of SPDR ETFs in Asia Pacific for State Street Global Advisers (SSGA), said there was so much future growth in the market that SSGA don't look at market share.
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Source: Financial Standard
BetaShares appoints General Counsel & Head of Compliance
May 31, 2011--BetaShares Capital Limited (BetaShares) has appointed Anton Allen as General Counsel & Head of Compliance. The appointment comes as BetaShares continues its strong growth trajectory, recently listing its fourth exchange traded fund (ETF) in just under six months.
Allen, who was previously Head of Legal at Macquarie Funds Group, part of Macquarie Bank, brings substantial legal, compliance and risk management expertise to BetaShares. He has 18 years of experience in the legal profession, specialising in institutional and retail funds management.
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Source: BetaShares
HKEx Publishes Consultation Paper on After-Hours Futures Trading Proposal
May 30, 2011--Hong Kong Exchanges and Clearing Limited (HKEx) published a consultation paper today (Monday) to seek views on its proposal to introduce after-hours futures trading (AHFT) to strengthen Hong Kong’s derivatives market.
HKEx is proposing trading of three futures contracts, Hang Seng Index (HSI) futures, H-shares Index (HHI) futures and gold futures, from 30 minutes after the current market close (from 4:45 pm for the index futures and 5:30 pm for the gold futures) until 11:15 pm (the proposal’s main points are in the appendix).
HKEx research found many futures brokers in Hong Kong are open in the evening to offer trading of European and US futures during London and New York business hours. Those brokers include at least half of HKEx’s 183 Futures Exchange Participants (FEPs). Together, that group of FEPs accounts for nearly 90 per cent of HSI futures turnover and nearly 95 per cent of the HHI futures turnover.
HKEx also found AHFT is now common among other leading derivatives exchanges, with eight of the top 10 derivatives exchanges in terms of stock index futures turnover offering after-hours trading. Turnover during after-hours trading in major derivatives exchanges ranges from 15 per cent to 37 per cent of the turnover during their regular trading hours.
view the CONSULTATION PAPER ON AFTER-HOURS FUTURES TRADING
Source: HKEx
Indian growth slows for fifth quarter
May 30, 2011--India’s economic growth slowed for the fifth consecutive quarter as rising interest rates and paralysis in the scandal-plagued government curbed company investment.
The economy grew more slowly than expected – 7.8 per cent in the fourth quarter of the April to March financial year – and at its slowest pace for five quarters.
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Source: FT.com
Shanghai Stock Exchange Vice President Liu Xiaodong: SSE 380 May Be Growth Indicator Of SSE-listed Companies
May 27, 2011--The future growth of companies listed on the Shanghai Stock Exchange (SSE) may be reflected through SSE 380 index, SSE Vice President Liu Xiaodong said at the "Shanghai Multi-layer Blue-chip Market Construction Forum: Corporate Financing, Institutional Investment and SSE Indices" yesterday.
In elaborating on the multi-layer capital market in his keynote speech, Liu stressed that broadly speaking, a multi-layer capital market is supposed to be classified according to risk. The first-tier or low-level market, includes low-risk fixed income products, such as treasury bonds and corporate bonds. The second-tier market is featured by equities, and mainly means a system covering the basic over-the-counter market, SME Board, Growth Enterprises Board and the main board. The third-tier also the highest-level market is what we called derivatives market. "Thus, we should discuss the construction of a multi-layer capital market at these three levels."
Liu also introduced the basic situation of the SSE and its index compilation system. It is learnt that the SSE now boasts 906 listed companies with a total market capitalization of RMB19 trillion, ranked 5th and 6th in the world, respectively. As to the corporate composition, there are both large-scale enterprises with nearly RMB2 trillion market capitalization (i.e. PetroChina Company Limited) and small companies with market capitalization of less than RMB1 billion. Given the multi-level structure, the SSE made a comprehensive and considerate arrangement for its index compilation system. Among the current SSE indices, there are not only SSE 50, SSE 180 and SSE 380 indices, which are divided according to basic market behavior, but also industry indices, such as financial and real estate indices. Generally speaking, SSE 50, SSE 180 and SSE 380 constitute the framework of SSE indices.
Speaking of the SSE 380 index launched at the end of 2010, Liu noted that it is closely related to the construction of a multi-layer capital market. According to him, thanks to its popularity, some fund management firms expressed hope to develop products based on it less than one year after its introduction to the market. As products are usually developed on the basis of an index after one year of its debut, it is obvious that the SSE 380 index has shown strong vitality. He said that the growth of the SSE may be witnessed by the SSE 380 index.
In his closing speech, Liu expressed his belief in the increasing improvement of issuing and listing market, corporate quality and level of marketization. He expected listed companies to enhance competitiveness from the perspectives of both industry and corporate governance.
Source:Shanghai Securities News
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