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Revisions to the Index Guidebook with Regard to Stock Transfers, etc.
January 8, 2010--Tokyo Stock Exchange, Inc. (TSE) announced today that it will revise the index calculation method regarding the addition/removal of constituent issues of the Tokyo Stock Exchange Second Section Stock Price Index (*), Tokyo Stock Exchange Mothers Index (*), and Tokyo Stock Exchange REIT Index.
The revisions aim to enhance the suitability of those indices as benchmarks.TOPIX calculation will remain unchanged.
The details are as follows:
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* Includes the Tokyo Stock Exchange Second Section Composite Index and Tokyo Stock Exchange Mothers Composite Index.
Source: Tokyo Stock Exchange (TSE)
Turnover of ETFs on SGX rises 56% to S$4.6b in 2009
January 8, 2009-- Turnover of exchange-traded funds (ETFs) listed on the Singapore Exchange grew 56 per cent to S$4.6 billion in 2009, the third straight year in which record turnover was achieved.
SGX said ETFs with a non-domestic focus account for over 90 per cent of ETF turnover on the exchange, unlike most other Asian markets, where such funds with a domestic focus tend to dominate trading.
As a result, investors leverage on SGX-listed ETFs to access markets that have limited access.
The three most active ETFs by turnover were the iShares MSCI India ETF, the Lyxor ETF India and the SPDR Gold Shares ETF. Together, these three accounted for about 60 per cent of total ETF turnover.
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Source: Chanel News Asia
ChiNext releases Business Memorandum to regulate use of over-raised funds
The SZSE recently released the"Business Memorandum No. l for ChiNext Information Disclosure—Use of Over-raised Funds
January 6, 2010--In order to further regulate the use and management of raised funds of ChiNext listed companies, especially over-raised funds, enhance the safety and use of raised funds of listed companies, protect the rights and interest of investors and interest of listed companies, the SZSE recently released the “Business Memorandum No. l for ChiNext Information Disclosure—Use of Over-raised Funds”
The Memorandum sets out the stringent restrictions in respect of the use of over-raised funds, emphasizing that the over-raised funds shall be used for main business of listed companies, not for high-risk investment such as engaging in securities investment, entrusted finance management, derivatives investment, venture investment and financing other parties or individuals.
The Memorandum also requires that listed companies shall properly make plans for the use of over-raised funds in light of the company’s development planning and actual production and operation needs within 6 months after the aforementioned funds are collected. And the Memorandum sets forth that before a listed company puts over-raised funds into use, the company shall perform the duties including going through the corresponding procedure for consideration of the board or the general meeting and information disclosure in accordance with the requirements of the “Rules of Shenzhen Stock Exchange for ChiNext Stock Listing”.
In addition, with respect of information disclosure and the procedure for consideration in relation to changes in projects to be actually invested by over-raised funds or plans for use of over-raised funds, or using over-raised funds to temporarily replenish working capital, the Memorandum gives specific provisions.
Source: Shenzhen Stock Exchange
Sumitomo Mitsui plans $8.7bn share sale
January 5, 2010--Sumitomo Mitsui Financial Group, Japan’s second-largest bank by market capitalisation, is preparing to raise about $8.7bn through a new share issue in an effort to bolster its capital base and fund growth.
The bank has already appointed Goldman Sachs, Citigroup, Nikko Cordial and Barclays to lead manage the issue, which is expected to be announced this week, according to one person familiar with the deal.
Read more
Source: FT.com
MSCI-KOKUSAI ETF and MSCI Emerging ETF to be Listed (Nikko Asset Management Co., Ltd.)
January 5, 2010--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of the "Listed Index Fund International Developed Countries Equity (MSCI-KOKUSAI)" and "Listed Index Fund International Emerging Countries Equity (MSCI EMERGING)", managed by Nikko Asset Management Co., Ltd.
| Code | 1680 (ISIN JP3047120005) | 1681 (ISIN JP3047130004) |
|---|---|---|
| Name | Listed Index Fund International Developed Countries Equity (MSCI-KOKUSAI) | Listed Index Fund International Emerging Countries Equity (MSCI EMERGING) |
| Fund Administrator | Nikko Asset Management | Nikko Asset Management |
| Listing Date | January 29, 2010 | February 24, 2010 |
| Trading Unit | 10 units | 10 units |
| Underlying Index | MSCI KOKUSAI Index | MSCI Emerging Markets Index |
With this listing, there will be a total of 72 ETFs listed on the Tokyo market, bringing us closer to the goal of 100 listed ETFs by the end of fiscal year 2010, as laid out in the Medium-Term Management Plan. The TSE will continue working to diversify the ETF market and improve the convenience of our market for all investors.
Source: Tokyo Stock Exchange (TSE)
Taiwan Sets Deadline to Stop Funds Speculating
January 4, 2010--Taiwan’s central bank has given overseas investors a week to use funds in the local currency allocated for stocks to purchase shares, seeking to drive foreign exchange speculators out of the island.
“They aren’t welcome, if they don’t buy stocks within a week,” Spencer Lin, head of the Central Bank of the Republic of China (Taiwan)’s foreign-exchange department, said by telephone from Taipei today, declining to identify the investors.
Korea Exchange to cut staff by 10%
KRX was formed in 2005 when the Korea Futures Exchange and Kosdaq merged.
read more Launch of "arrowhead", the Next-Generation Equity/CB Trading System "arrowhead" is the next trading system developed by the TSE for the next generation cash market in order to meet the needs of investors such as high speed order placement and execution processing and to respond to reductions in sizes of orders and rapid increases in the number of transactions. The new system is used for auction trading of stocks and CBs, and supports the Tokyo Market as an exchange system of the highest global standard for low latency, high reliability, and scalability .
Speed(1) 5 millisecond Order Response (i)The response time for order acceptance notices has been accelerated.
(2) 3 millisecond Information Distribution(i)The latency for distribution of stock prices and quote information has been reduced.
(i)Figures based on those from prior testing.
read more Trading Volume in December 2009 and Year 2009 read more Get ready for IPOs on bourses, more ETFs
Consolidation among mutual funds (MFs): A decade ago, fund houses had to struggle to find investors. This year, after Sebi barred them from charging entry load, which used to go to MF distributors, the MF distribution network is at standstill. read more
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Source: Bloomberg
January 4, 2010-Korea Exchange said on Monday it planned to cut its workforce by more than 10 per cent to improve efficiency, following allegations in the local media of ineffective management and reckless spending.
The stock exchange was made subject to state control in 2009 after it was deemed to hold too much of a monopoly of the market.
Source: FT.com
January 2, 2010-The Tokyo Stock Exchange (TSE) hereby announces that it has decided to launch "arrowhead", the new equity/CB trading system held to the world’s highest standards of speed and reliability, on Monday, January 4, 2010 as initially planned.
This is in line with the TSE's previous announcement that it will make the final decision of the system launch upon implimenting the final transition operation.
Source: Tokyo Stock Exchange (TSE)
January 4, 2010--The trading volume of Three-month Euroyen futures was 1,125,342, increasing 5.4% in comparison to that of the prior year comparable month, and increasing 52.4% in comparison to that of the prior month, and the average daily volume was 53,588.
The trading volume of Options on Three-month Euroyen futures was 250, decreasing 98.9% in comparison to that of the prior year comparable month, and decreasing 58.3% in comparison to that of the prior month. The trading volumes for the put options and call options are 250 and 0, respectively, and the average daily volume was 12.
Source: Tokyo Financial Exchange (TFX)
December 31, 2009--Here is our take on 10 market trends to watch out for in 2010.
Exchange-traded funds (ETFs): ETFs linked to gold, Nifty and Bankex are already there. The National Stock Exchange (NSE) is developing more ETFs based on its indices. It is also in touch with investment bankers to launch ETFs in overseas market based on Indian indices. Sources said Indian investors might also get to invest in the S&P 500 or the BRIC Index through ETFs.
Further, Benchmark Assets Management Company, a pioneer in ETFs in India, has sought the Securities and Exchange Board of India’s (Sebi’s) nod to launch ETFs based on government securities. This will enable small investors to invest in these securities. Benchmark is also launching an ETF based on Hang Sang in early January, besides an ETF based on NSE’s infrastructure index.
Source: Business Standard
