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April gold ETF volumes cross 10 tonnes
May 11, 2010--India's gold collection under exchange-traded funds more-than-doubled to cross the 10-tonne mark in April, when the yellow metal gained more than 5 percent, data from the funds showed.
Volumes crossed the 10-tonne mark for the first time since 2007, when Benchmark Mutual Fund launched its first gold ETF. Though gold collections under ETFs are growing, they remain miniscule against India's imports of about 400-700 tonnes.
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Source: Reuters
Ping An of China Asset Management (Hong Kong) Company Limited Launches PAragon CSI RAFI 50 ETF
May 10, 2010--Ping An of China Asset Management (Hong Kong) Company Limited (Ping An of China Asset Management or the Company), a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (SEHK: 2318) (Ping An Group), is pleased to announce that the PAragon CSI RAFI 50 ETF (SEHK: 2818) (the Fund) has today commenced trading on the Main Board of the Stock Exchange of Hong Kong Limited (SEHK). PAragon CSI RAFI 50 ETF is the first ETF in Hong Kong to adopt the fundamental approach to stock weighting to track China A Shares market. The Fund is also Ping An of China Asset Management's first ETF in Hong Kong.
Benchmarked against the CSI RAFI 50 Index, PAragon CSI RAFI 50 ETF aims to achieve its investment objective by investing in a basket of securities that track the performance of the CSI RAFI 50 Index. Developed jointly by China Securities Index Co., Ltd (CSI) and Research Affiliates, the CSI RAFI 50 Index tracks the performance of the top 50 stocks on the Shanghai and Shenzhen bourses based on the economic scale of individual stocks as measured by their revenue, book value, cash flow and dividends.
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Source: China Securities Index Co
Financial Technologies Group's Three International Exchanges To Go Live In 2010 - The India Model For New Generation Financial Markets & Ecosystem Development Is Receiving Global Recognition For Its Transformational Impact On Economic Growth
May 4, 2010--Three greenfield International Exchanges of Financial Technologies Group, a leading global player in creating next-generation financial exchanges and ecosystem ventures, will be going live this year in 2010. SMX (Singapore Mercantile Exchange) will go live in August 2010, GBOT (Global Board of Trade, Mauritius) in September 2010 and BFX (Bahrain Financial Exchange) in October 2010.
Financial Technologies Group’s leadership in technology and domain expertise centered on financial markets and ecosystems coupled with global talent and management team and a world class competent board, and advisory board enables it to develop green field exchanges in fast growth economies. For new generation financial markets and ecosystem development, the ‘Made in India’ brand elicits the same global respect and reputation that ‘Made in Japan’ enjoys in automobiles and consumer electronics in international markets.
SMX, based out of Singapore will be regulated by MAS (Monetary Authority of Singapore), GBOT by FSC (Financial Services Commission, Mauritius) and BFX by CBB (Central Bank of Bahrain). SMX, BFX and GBOT as regulated market platforms will endeavor to be the enablers of financial inclusion through efficient transmission of fiscal and monetary policies of their respective governments and regulators and will democratize ‘access’ to financial products and services through cost-efficient distribution - ensuring that the benefits of globalization are propagated to the last mile. They aim to propagate inclusive and equitable growth and an investment cult in regions they operate in to further propel economic growth and job creation in their respective local markets
Jignesh Shah, Chairman and Group CEO, Financial Technologies Group said, "Asia, Middle East and Africa are among the fastest growing regions in the world and expected to continue to grow annually at 6% to 10% over next 25 years. Financial Technologies Group is perhaps the first company in the history of modern civilization to successfully set-up three green field regulated exchanges from ground-up which would go live in the same year. The scale of the vision is based on the „spice and silk routes? that used to connect trading and financial communities from Africa, Middle East, India and Asia centuries ago with the rest of the world. Singapore, Bahrain and Mauritius are ranked among the top International Financial Centers and are equivalent of „New York and London and Tokyo? of Asia, Middle East and Africa – the fastest growing economies in the world.. Financial Technologies Group is singularly positioned to proxy the growth of these economies."
SMX as an international Pan-Asian Exchange will offer a basket of commodities including bullion, base metals, energy, grains and soft agricultural produce, commodity indices, currencies and oil, as well as other financial instruments on its trading platform. SMX has also incorporated Singapore Mercantile Exchange Clearing Corporation (SMXCC), to be its clearing house to handle clearing, settlement and risk management functions. TOCOM’s (Tokyo Commodity Exchange) recently signed up with SMX to explore mutually-beneficial partnerships and expand its market reach is in line with SMX long-term strategy of being a ‘one-stop comprehensive product-range exchange’ which encompasses all physical and derivative commodity players during pan-Asian trading hours. 2
Thomas McMahon, CEO, SMX explained, "The Asian financial markets, though efficient in their own right, are fragmented structures and function in silos. SMX being an pan-Asian exchange from a reputed International Financial Center (Singapore) will enable efficient cross-border markets and price discovery in Asian time zone as well as globally."
BFX will be the first multi-asset exchange offering conventional, and Islamic financial products from the Middle East providing an avenue for global market participants to access alternate investment options in Shariah compliant financial instruments as well as conventional derivatives and cash products. BFX has also set up the BFX Clearing and Depository Corporation (BCDC), through which it will ensure seamless risk management to its end-users. BFX through its alliances with leading organizations like Bursa Malaysia, International Islamic Financial Market (IIFM, Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI) and the General Council for Islamic Banks and Financial Institutions (CIBAFI) is poised to play a key role in deepening and broadening the Islamic Financial Markets.
Arshad Khan, CEO, BFX, said "As Islamic Financial Markets continue to grow, there is a need to respond to the challenges of standardization, transparency and risk management faced by global market participants. This calls for a robust Islamic exchange model, which BFX is looking to address in addition to bringing all the conventional financial products on a single trading and clearing platform."
Source: Financial Technologies
Shenzhen Stock Exchange Fundamental Index Series Come Into Being
May 5, 2010--Shenzhen Stock Exchange and China Securities Index Co., Ltd. announced that SZSE fundamental index series, including SZSE Fundamental 60 Index, SZSE Fundamental 120 Index and SZSE Fundamental 200 Index, would be released on May 10, 2010.
The fundamental index series were applied in A-share market by ranking 60, 120 and 200 companies listed on Shenzhen Stock Exchange according to four fundamental measures of company size: turnovers, cashflow, net assets and dividends. The fundamental index ranked stocks according to the four fundamental factors of company size to determine porfolio weight instead of depending on the fluctuations of market valuation in order to reduce the performance drag created by overweighting overvalued stocks and underweighting undervalued stocks. It broke the link between price and profolio weight. The rules for index compiling have been released on the webstie of Shenzhen Stock Exchange £¨www.szse.cn£©and China Securities Index Co., Ltd. £¨www.csindex.com.cn£©.
The fundamental index series were developed by China Securities Index Co., Ltd., and Shenzhen Securities Information Co., Ltd. also participated in the development.
The release of fundemental index series is expected to drive the further development and innovation of index products and acclerate the construction of multi-level capital market. The development of related ETF products and fund products also has been under preparation by fund companies.
Source: Shenzhen Stock Exchange
Chinese stocks hit pre-recovery low
May 5, 2010--China’s benchmark stock index fell to its lowest level in seven months on Wednesday as investors fretted about a series of government measures to cool the property market and a flood of new bank shares coming to market.
The benchmark Shanghai Composite Index fell as much as 2.3 per cent in morning trading to 2,770.674, its lowest level since last September when China’s economic recovery began to gather pace. However, the market began to recover in the afternoon and closed 0.8 per cent higher at 2,857.15
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Source: FT.com
HKEx: Changes Of Designated Securities For Short Selling
May 3, 2010--The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announces that with effect from 10 May 2010 (Monday), 59 additional securities will be eligible for short selling and 12 existing designated securities will be removed from the list. The total number of designated securities for short selling will be 579 after the revision.
The securities to be added to the list of designated securities and the securities to be removed from such list are shown in the attachment.
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Source: HKEx
DB Index Research -- Weekly ETF Market Review - Asia-Pacific
May 4, 2010--Market Overview
There are 213 equity based ETFs in the Asia Pacific region with 300 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 42.23% of the whole market, whilst China has the largest market share by turnover with 37.97.
There were no new listings in the last week.
Turnover
Monthly average daily turnover declined 3.6% in the last week. Turnover for the previous week was USD 838 m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 194 m accounting for 23.1% of total turnover.
Assets Under Management
AUM declined 1% in the previous week. AUM as of April 30th were USD 62.8 bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.6 bn.
To request a copy of the report
Source: Aram Flores and Shan Lan -DB Index Research
Bank of Japan eyes change of policy
April 30, 2010--The Bank of Japan on Friday promised ”new efforts” to support economic growth but it is unlikely to make the big changes to monetary policy demanded by its critics in Japan’s ruling party.
The bank forecast an end to deflation next year, predicting that prices will rise by 0.1 per cent in the year that starts April 2011, and sharply increased its median growth forecast for this year from 1.3 to 1.8 per cent.
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Source: FT.com
Circuit Breaker Base Price Applied to Gas Oil Futures Contract
April 30, 2010--TOCOM will reopen the Gas Oil futures contract on May 6, 2010.
The base prices for Circuit Breaker (CB) on the day of reopening will be as follows.
Contract Month |
Base Price for CB (JPY) |
June 2010 |
61,000 |
July 2010 |
61,000 |
August 2010 |
61,000 |
September 2010 |
61,000 |
October 2010 |
61,000 |
November 2010 |
61,000 |
Please note that the initial CB trigger level for gas oil in May 2010 will be JPY 2,400 (Circuit Breakers for May 2010).
Source: TOCOM
DB Index Research - Weekly ETF Market Review - Asia -Pacific
April 28, 2010--Highlights
Market Overview
There are 214 equity based ETFs in the Asia Pacific region with 301 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 42.13% of the whole market, whilst China has the largest market share by turnover with 34.75%.
There were no new listings in the last week.
Turnover
Monthly average daily turnover rose 11.6% in the last week. Turnover for the previous week was USD 870m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 195m accounting for 22.4% of total turnover.
Assets Under Management
AUM rose 3% in the previous week. AUM as of April 23rd were USD 63.5bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.6bn.
To request a copy of the report
Source: Aram Flores and Shan Lan -DB Index Research
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