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Indonesian traders enter global market
March 8, 2011--The Indonesia Commodity & Derivatives Exchange (ICDX) said domestic traders could now trade abroad on foreign exchanges – including CME Group and the New York Board of Trade – for the first time.
The move highlights how the barriers that have prevented local traders in Asia’s fast-growing commodity derivatives markets accessing trading opportunities abroad are coming down, as regulations are relaxed and technology is making connections easier.
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Source: FT.com
Dollarization in Cambodia: Causes and Policy Implications-IMF Working paper
March 4, 2011--Over the past decade, Cambodia has become Asia’s most dollarized economy. In contrast, dollarization in neighboring Lao P.D.R., Mongolia, and Vietnam has been either declining or broadly stable.
Somewhat paradoxically, growing dollarization in Cambodia has occurred against the backdrop of greater macroeconomic and political stability. The usual motive, currency substitution, does not appear to have been a factor. As the volume of dollars increased over the years, so has the volume of riel. A strong inward flow of dollars related to garments sector exports, tourism receipts, foreign direct investment, and aid, has benefitted the dollar based urban economy. The riel based rural economy has, however, lagged behind. Given international experience in de-dollarization, a carefully managed market based strategy, supported by a continued stable macroeconomic environment is essential for Cambodia’s de-dollarization.
view Dollarization in Cambodia: Causes and Policy
Implications
Source: IMF
SPDR® S&P500® ETF Trust to be Listed (managed by State Street Bank and Trust Company)
March 4, 2011--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of "SPDR® S&P500® ETF Trust", managed by State Street Bank and Trust Company. The new ETF will be listed on Thursday, March 24, 2011.
Code 1557 (ISIN US78462F1030)
Name SPDR® S&P500® ETF Trust
Trading Unit 1 units
Underlying Index S&P 500
"SPDR® S&P500® ETF Trust" is listed on NYSE Arca and other exchanges. Created in 1993 as the first ETF in the US, it is now the world's largest ETF by net asset value. The underlying "S&P 500" consists of 500 large-cap issues listed on exchanges across the US and is widely used by institutional investors around the globe. With this listing, there will be a total of 101 ETFs listed on the Tokyo market. TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors. Please refer to the page below for information on ETFs listed on TSE.
Source: Tokyo Stock Exchange
Thai Bourse To Launch 16 Single Stock Futures On March 21
March 3, 2011--The 16 new single stock futures will be based on stocks from the SET50 Index, which is composed of the 50 largest securities, listed on The Stock Exchange of Thailand (SET) and will come from 9 sectors. These new securities, the third batch of single stock futures issued by TFEX, will provide investors with more investment alternatives, and enable them to better manage risks and increase profitability, TFEX Managing Director Kesara Manchusree noted.
The 16 new underlying stocks from 9 sectors are Sri Trang Agro-Industry PCL (STA) from Agribusiness Sector; Thanachart Capital PCL (TCAP) and TMB Bank PCL (TMB) from Banking Sector; CP All PCL (CPALL) and Home Product Center PCL (HMPRO) from Commerce Sector; IRPC PCL (IRPC) and Thai Oil PCL (TOP) from Energy & Utilities Sector; Charoen Pokphand Foods PCL (CPF), Minor International PCL (MINT) and Thai Union Frozen Products PCL (TUF) from Food & Beverage Sector; Total Access Communication PCL (DTAC) and True Corporation PCL (TRUE) from Information & Communication Technology Sector; Indorama Ventures PCL (IVL) from Petrochemicals & Chemicals Sector; Pruksa Real Estate PCL (PS) from Property Development Sector; and BTS Group Holdings PCL (BTS) and Thai Airways International PCL (THAI) from Transportation & Logistics Sector.
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Source: Asia E Trading
Calculation of TOPIX in relation to shares of TOKAI Holdings Corporation
March 3, 2011--Tokyo Stock Exchange, Inc. (TSE) made an announcement today regarding calculation of TOPIX and its sub-indices concerning the following shares to be de-listed on March 29, 2011?and shares to be listed on April 1, 2011 due to stock transfer.
1. Exclusion
The following shares to be de-listed due to stock transfer will be excluded from TOPIX and its sub-indices after the close of trading on March 31, 2011. For index calculation purposes, the market capitalization of the following issues will remain unchanged from the close of March 28, 2011 (the last trading date) to March 31, 2011 in TOPIX and its sub-indices.
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Source: Tokyo Stock Exchange
China’s Exchanges Plan to Double ETFs After Equities Rout
March 3, 2011-- China’s stock exchanges plan to more than double the number of exchange-traded funds they offer in 2011, aiming to spur investor interest in the world’s worst- performing major equities market last year.
The Shanghai Stock Exchange is proposing as many as 20 ETFs this year, Tang Xian, the bourse’s assistant director of product development, said in an interview at a conference in the city yesterday. The Shenzhen Stock Exchange plans to list about eight ETFs, said Fan Yue, head of fund supervision. Shanghai currency has 17 ETFs and Shenzhen five, according to the officials.
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Source: Bloomberg
FTSE China Index Series Quarterly Review - 3 Additions To The FTSE China A50 Index - 2 Additions To The FTSE China 25 Index
March 1, 2011--FTSE Group (“FTSE”), the award winning global index provider, announces the results of the FTSE China Index Series quarterly review approved by the FTSE Asia Pacific Index Advisory Committee today.
FTSE China indices (previously FTSE Xinhua indices) are widely regarded as a leading measure of the China equities market by domestic and international investors. Nearly 60% of assets under management in China Exchange Traded Funds (ETFs) issued globally, track a FTSE China index. The most widely followed indices are the FTSE China A50 Index and the FTSE China 25 Index which are used as the basis of the world’s largest China themed ETFs.
The FTSE China A50 Index represents the 50 largest A-Share companies in China and is tracked by both domestic investors and internationally through a range of QFII investment portfolios.
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Source: FTSE
India to delay overhaul of accounting rules
March 1, 2011--India is set to delay by one year an overhaul of its accounting rules, after the government failed to issue the new standards – designed to deepen its ties with the world economy – early enough for domestic companies to implement them.
A senior government official told the Financial Times on Tuesday that it would not start obliging companies to follow the new accounting norms by the April 1 phased deadline that it had previously envisaged.
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Source: FT.com
Cross-border renminbi trade flourishes
March 1, 2011--Bank of China, the country’s fourth-largest lender by assets, has said it expects to see continued exponential growth in cross-border renminbi trade settlement as more companies in China and around the world choose to pay and be paid in the Chinese currency.
Total cross-border renminbi settlement last year hit Rmb510bn ($77.6bn) after the central bank expanded a pilot project allowing Chinese and foreign companies to settle trade transactions in renminbi. BoC’s branches across mainland China handled Rmb160bn, or 28 per cent of all the cross-border trade settled in renminbi last year, making it the market leader in the promising new business.
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Source: FT.com
China’s Treasury holdings ‘underestimated’
March 1, 2011--China’s holdings of US government bonds are even higher than this week’s dramatic upward revision by the Treasury Department, say strategists.
On Monday, the Treasury released its annual revision of US Treasury securities held by foreign investors, which sent China’s holdings to $1,160bn at the end of December from a prior estimate of $892bn made just two weeks ago.
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Source: FT.com
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