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Rate differentials curb yen
March 30, 2011--The yen hit a 10-month low against the euro and lost ground across the board as interest rate differentials moved against the Japanese currency.
Whereas authorities in Tokyo are expected to keep monetary policy loose to deal with the effects of the earthquake that hit the country this month, markets are expecting central banks in Europe and the US to begin tightening policy.
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Source: FT.com
China to build cotton reserve to encourage output
March 30, 2011--China plans to rebuild a cotton reserve this year to help encourage domestic production as farmers fret that prices could tumble from historic highs.
China is the world’s top producer of cotton, but a strong local textile industry also makes the country the largest cotton consumer and importer. Demand from Chinese mills played a key role in driving New York cotton prices to a record $2.27 a pound this month, up 175 per cent over the last year
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Source: FT.com
State Street adds to ETF stable
March 30, 2011--Continued growth in local demand for ETFs has prompted State Street Global Advisers (SSgA) to add a further three products to its SPDR ETF range.
In April, State Street will launch a new ETF focusing on resources, one on financials and a third tracking less mature, small cap companies, targeting higher growth and returns.
"The new SPDR funds will offer more precise exposure to two of the market's dominant segments, while small caps are an acknowledged growth sector," said Rob Goodlad, senior managing director, SSgA, Australia.
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Source: Standard online
Revised Components and Weight Percentage of Nikkei-TOCOM Commodity Index
March 30, 2011--Tokyo Commodity Exchange, Inc. (“TOCOM” or the “Exchange”) today announced the revised components and weight percentages of the Nikkei-TOCOM Commodity Index to take effect on June 1, 2011.
Please note that Gas Oil, Chukyo-Gasoline and Chukyo-Kerosene will not be added as components of the Nikkei-TOCOM Commodity Index, due to the current trading environment, etc.
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Source: TOCOM
USD Futures Inverse ETF To Be Listed On The Korea Exchange
March 30, 2011--KOSEF USD Futures Inverse ETF, which is designed in such a way that the net asset value moves inversely with the daily return of underlying asset, USD Futures, will be listed on April 1st, 2011 on the Korea Exchange (KRX).
Since the net asset value of this ETF increases when the value of Korean Won appreciates against US Dollar, when investing in the products exposed to risk of exchange rate volatility, this ETF can be used to effectively hedge against the exchange rate flunctuations.
KOSEF USD Futures Inverse ETF is the 11st ETF listed in 2011 and the total of 75 ETFs is now listed on the KRX.
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Source: KRX Korea Stock Exchange
TSE has released a REIT (Real Estate Investment Trust) Price Information List as part of the REIT information which it provides to investors.
March 29, 2011--TSE has released a REIT (Real Estate Investment Trust) Price Information List as part of the REIT information which it provides to investors.
The REIT Price Information List contains the current price*, net change, market capitalization, forecast of dividend for current term, and forecast of annualized dividend yield for every REIT listed on the TSE market.
In addition, information related to financial information, quotes, and charts can be viewed by clicking on a specific issue’s name on the Price Information List.
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Source: Tokyo Stock Exchange
Publication of Disclosure System Working Group Report "Expansion of Scope of English-Language Disclosures System" and "Development of Legal System for Rights Offering in Japan"
March 25, 2011--Towards achieving the New Growth Strategy (June 18, 2010 Cabinet Decision) and the Action Plan for the New Growth Strategy (published on December 24, 2010) , the Financial Services Agency of Japan set up the Disclosure System Working Group (chaired by Prof. Etsuro Kuronuma, Waseda University).
The aim of setting up this working group is to study from expert and technical viewpoints the expansion of scope of English-language disclosure system and the development of legal system for rights offering, which are both included in the Action Plan.
The Disclosure System Working Group has deliberated four times in total since November 2010 with regard to these matters.
Based on these deliberations, the working group published reports entitled “Expansion of Scope of English-Language Disclosures System” and “Development of Legal System for Rights Offering in Japan” on December 17th 2010 and January 19th 2011, respectively.
Expansion of Scope of English-Language Disclosures System
Development of Legal System for Rights Offering in Japan
Source: FSA.go.jp
State Street Global Advisors (Japan) Co., Ltd. and Tokyo Stock Exchange, Inc. announce SPDR(R) S&P500(R) Exchange Traded Fund in Tokyo
March 24, 2011--State Street Global Advisors (Japan) Co., Ltd. (SSgA Japan) and Tokyo Stock Exchange, Inc. (TSE) today announced that the SPDR® S&P500® Exchange Traded Fund (ETF) (code: 1557) began trading on the TSE on Thursday, March 24th. The first ETF in the world and created in 1993, the original SPDR ETF is the world's largest ETF by net asset value. The fund is currently listed on the NYSE Arca and the Singapore Exchange.
The underlying S&P500® index consists of 500 large-cap equities listed on NYSE and NASDAQ and accounts for approximately two-thirds of the market capitalization in the US. The index is also a component of the leading economic indicators released by the United States Department of Commerce.
Mr. Koji Yamamoto, President and Representative Director of SSgA Japan said "We are hopeful that the cross-listing of the original SPDR ETF on the TSE will further increase awareness of ETFs in the investment community and create new opportunities for Japanese investors."
Mr. Atsushi Saito, President and CEO of the TSE, commented "We are very proud to be listing the SPDR® S&P®500 ETF on the Tokyo Stock Exchange. As part of the TSE's continued effort to invigorate the ETF market in Japan, we are optimistic that the listing of the industry's first ETF, the SPDR®S&P®500 ETF, will further boost the Tokyo market."
Source: TSE
Thai Bourse Introduces Additional Channel For Data Updates For ETFs
March 24, 2011--The Stock Exchange of Thailand (SET) continues to promote investment via exchange-traded funds (ETFs), this time by providing one more channel to provide updates on the indicative net asset value (iNAV) of ETFs. This data will be sent through SET's price reporting system (PRS) , and will be available for member companies, analysts and vendors from March 28.
The SET is expanding the ETF market by adding more funds and enhance the NAV of all ETFs, SET Chief Marketing Officer Pakorn Peetathawatchai revealed. To make it faster and more convenient for investors to update their information on ETFs, the SET will take the iNAV of ETFs, which all asset management companies which
issue ETFs constantly every 15 or 30 seconds calculate during trading hours, and disseminate the data through the Thai Exchange's information dissemination system to member companies and vendors.
"The iNAV gives an approximation of the NAV of each respective ETF while trading is active, giving an almost real-time NAV that tracks prices of a given basket of underlying securities, which are also being traded at any given time. iNAV helps investors more efficiently make investment decision on given ETF", reported Mr. Pakorn.
Investors can follow the iNAV of all ETFS listed on the SET, including CHINA, ENGY, TDEX and TFTSE, and related information by visiting the websites of the
respective ETF-issuers: One Asset Management Limited (www.one-asset.com), TMB Asset Management Co., Ltd. (www.tmbam.com), Krung Thai Asset Management PCL (www.ktam.co.th) and at www.settrade.com or contact S-E-T Call Center at 0 2229 2222.
Source: The Stock Exchange of Thailand
South Asia and Food Price Crisis
March 24, 2011--While South Asia navigated the financial crisis better than most regions, the region suffered the worst in terms of trade deterioration during previous food and fuel crises. With global food and fuel prices rising again, South Asia will be affected disproportionally. Regional inflation is already high and countries have limited fiscal space to maneuver.
About 75% of South Asia’s poor live in rural areas and agriculture sector employs about 60% of the labor force. The region has made enormous strides during and after green revolution in improving agricultural productivity. The revolution allowed the region to lift millions of people out of poverty. Agricultural growth during this period reduced poverty by raising farm incomes, increasing the demand for rural labor, and reducing food prices. In recent years, however, agricultural growth in South Asia has been less than 3%, far below the growth rates of other economic sectors.
The continuing increase in world food prices and the fact that the region is net importer of food has brought agriculture into focus in many South Asian countries.
view the
Food Price Increases in South Asia: National Responses and Regional Dimensions report
Source: World Bank
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