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KRX To Open Nighttime Trading Of KOSPI200 Futures On CME Globex
October 22, 2009-The Korea Exchange plans to launch the nighttime trading of KOSPI200 futures after the closing of regular session from November 16, 2009.
The trading hours of nighttime session of KOSPI200 futures, which has been launched in collaboration with US CME Group, are from 18:00 to 05:00 on the following day.
The investors who wish to participate in the nighttime session of KOSPI200 futures need to open a futures trading account (the existing futures trading account may be used) and enter into a service agreement for nighttime trading.
To promote the investors’ awareness, the Korea Exchange is organizing the mock trading sessions and road shows on the trading rules and regulations, how & when to utilize, how to use the dedicated HTS.
Any interested investor is welcome to participate in mock trading session and the dedicated HTS program required for mock trading will be available for downloading from major Korean securities and futures companies from October 23, 2009.
Source: KRX
Q3 Trading results Of ETFs on KRX
October 21, 2009--Despite the listing of new ETFs and brisk trading of KODEX China H, the asset under management of ETFs tracking key indices of KRX declined due to shrinking spot-futures basis and the daily trading value and trading volume also fell due to the decline of arbitrage trading.
Daily trading value was KRW 122.8 billion (decline of 10.4% from previous quarter) and daily trading volume was 6,219,000 shares (decline of 2,158,000 or 25.8% from the previous quarter).
* The top 5 ETFs account for 89.0% of total daily trading value.
Daily Trading
| (thou. KRW bil) | |||||
| '09 Q3 | '09 Q2 | '09 Q1 | '08 | '07 | |
| Trading volume | 6.219 | 8.377 | 9.301 | 3.846 | 2.333 |
| Trading value | 123 | 137 | 127 | 98 | 33 |
With over KRW 2 billion of trading value, the daily trading values of 3 of 5 bond ETFs and inverse ETF were ranked from 6th to 9th.
| ETF | Trading value (KRW bil) | |
| 1 | KODEX200 | 61.8 |
| 2 | KOSEF 200 | 24.2 |
| 3 | TIGER 2000 | 10.1 |
| 4 | TREX 200 | 8.0 |
| 5 | KINDEX 200 | 5.3 |
Rate of return
ETFs recorded a high return (around 42%) from the improved performance of bank and automobile shares.
* KOSPI rose 20.4% in the 3rd quarter of 2009.
As the price of semiconductor recovered, semiconductor sector ETF recorded over 30% absolute return during the 3rd quarter.(35.4% by TIGER SEMICON and 32.9% by KODEX SEMICON)
On the bullishness of large caps, KStar Top5 recorded over 25% return, thus becoming one of the top 10 in the rate of return.
Trading of newly listed ETFs
5 bond ETFs and 1 inverse ETF were listed in the 3rd quarter. They traded briskly with the daily trading value of over KRW 1 billion.
Daily trading value of inverse ETF was KRW 2.6 billion. However, considering the price per unit of inverse ETF is 1/10 ~ 1/5 of those of bond ETFs, it can be said that inverse ETF was traded most actively.
The brisk trading of inverse ETF is attributed to the investors who anticipate the market correction in the future as well as the vigorous placing of quotes by the liquidity provider.
Of the 6 newly listed ETFs, only inverse ETF recorded a positive return while all bond ETFs recorded small negative returns. Return rates of bond ETFs remained negative (-0.5~ 0.6%).
Size of ETFs
Net asset value of KRW 3.6777 trillion and total number of listed units of 225.67 million, showing an increase of KRW 1.5557 trillion (73.3%), and 20.73 million units (10.1%) from the previous quarter, respectively.
Net asset value increased due to the increase of ETF prices resulting from the rise of KOSPI value and the listing of 5 bond ETFs (KRW 1.211 trillion) and inverse ETF (KRW 30 billion).
Number of listed ETFs increased by 5 (6 new ETFs; delisting of 1 KOSEF large cap value ETF) and total of 43 ETFs are listed(10 market indices ETFs; 5 bond ETFs; 5 overseas indices ETFs; 10 sector ETFs; 4 style ETFs; 9 other ETFs) as of end of September.
Source: KRX
TIGER China ETF listed on The KRX
October 21, 2009--The KRX has listed TIGER China ETF on October 21.
| Index tracked Original listing amount (E)* | Hang Seng Mainland 25 (HSML 25 | ||
| KRW 11 bi | Issue price per unit (E)* | KRW 10,990 | |
* Original listing amount and issue price per unit are determined on the day before the listing date.
Mirae Asset TIGER China ETF to be operated by the Mirae Asset MAPS tracks Hang Seng Mainland 25 composed of 25 Chinese stocks (H shares, R shares and others) listed on the Hong Kong Exchanges & Clearing, including China Mobile.
H shares : Stocks of state owned companies or the companies of which the state owns more than 30% of their equity shares, which are listed in both the main land China and Hong Kong
R shares : Stocks of state owned companies or the companies of which the state owns over 30% of their equity shares, which are listed only in Hong Kong
After listing TIGER China ETF, there are 6 overseas indices ETFs listed on the KRX, thus making total number of listed ETFs 45.
TIGER China ETF is the first ETF tracking HSML 25 Index.
* There are 3 ETFs tracking HSCEI Index in the world.
As the constituents of HSML 25 Index include both the H shares and R shares, including the key Chinese company ‘China Mobile’, it is expected that the price will be stable due to its well diversified portfolio.
In view of such factors as the real-time transaction, low cost and trading convenience, particularly when compared with the China equity funds, it is expected that the investors will find TIGER China ETF and attractive investment instrument.
| Authorized participants | Dae Woo Securities, Mirae Asset, Eugene Investment & Securities | ||
| Liquidity provider | Mirae Asset, Eugene Investment & Securities | ||
| Trustee | KB kookmin Bank | ||
Source: Online News
UOB Asset Management Ltd Lists The First China A-Shares ETF On SGX - Singapore Investors Can Now Access The China A-Shares Market With The United FTSE/Xinhua China A50 ETF
Singapore investors can now access the China A-Shares market with the United FTSE/Xinhua China A50 ETF
October 21, 2009--UOB Asset Management Limited (UOBAM) and Singapore Exchange Limited (SGX) announced today that UOBAM will list the first China A-Shares Exchange Traded Fund (ETF) on SGX on 12 November 2009. The United FTSE/Xinhua China A50 ETF will also be the first China A-shares ETF to be denominated and traded in Singapore Dollars.
The unprecedented scale of the financial crisis has left almost no economy untouched. As the developed world faces off potentially low to negative growth rates going forward, prospects of sustainable growth seem distant and fragile. In contrast, the Chinese economy remains firm and resilient as it looks set to launch into a new growth trajectory. The International Monetary Fund (IMF) expects China to grow at a healthy pace of 7.5% in 2009 and 8.5% in 2010.
The China A-Shares market is an important segment of China’s stock market. It consists of shares in Chinese companies which are denominated and traded in the Chinese Yuan, and listed on the Shanghai or Shenzhen stock exchanges. In recent times, international investors have shown keen interest in the China A-Shares market due to the healthy growth of the Chinese economy compared to the developed world, signs of recovery in China’s domestic demand and manufacturing sector, as well as the ascension of Chinese companies which are becoming more competitive on a global scale. Strong retail participation in the China A-Shares market in recent years also implies higher secondary trading liquidity.
Traditionally, access to the A-Shares market in China has been limited to Chinese nationals and Qualified Foreign Institutional Investors (QFIIs) approved by the China Securities Regulatory Commission (CSRC). Now, investors in Singapore and the region can gain exposure to the China A-shares market through the United FTSE/Xinhua China A50 ETF.
The United FTSE/Xinhua China A50 ETF aims to provide performance results that, before fees, costs and expenses (including any taxes and withholding taxes), closely correspond to the performance of the mainland Chinese equity market as measured by the FTSE/Xinhua China A50 Index. The index is designed to represent the equity performance of the 50 largest China A-Shares companies based on market capitalisation.
Commenting on the launch of the ETF, Mr Chong Jiun Yeh, Executive Director, UOBAM, said, “The launch of the United FTSE/Xinhua China A50 ETF marks a milestone for UOBAM. This will be the first China A-Shares ETF to be listed in Singapore and the first ETF to be launched by UOBAM. UOBAM’s core investment philosophy has always been to adopt a bottom-up, fundamentally driven team-based approach to ensure consistent performance, backed by a strong research focus as a key way we provide added value to our investors. Similarly, we have adopted the active value-added approach in structuring unique and non-commoditised ETFs to the marketplace. We chose to develop this China ETF because China is one of the biggest investment stories and we are one of the few players who are privileged to be able to facilitate access for investors into this limited-access market.“
SGX welcomes the expansion of UOBAM into the ETF space, with its first listing on one of the world's fastest-growing and most exciting economies. The United FTSE/Xinhua China A50 ETF will provide a transparent and efficient means for retail and institutional investors to gain exposure to an important and yet restricted segment of China's securities market,” said Mr Chew Sutat, Executive Vice President & Head, Market Development of SGX.
The Initial Offer Period of the United FTSE/Xinhua China A50 ETF will be from 29 October 2009 (9 am) to 4 November 2009 (12 noon). During this period, investors can apply for units of the ETF via UOB ATMs or through the participation dealer, UOB Kay Hian Pte Ltd (either directly or through a stockbroker), subject to applicable terms and conditions. Where an investor is submitting his application to a Participating Dealer through his stockbroker, that investor should contact his stockbroker for the applicable deadline for such submission. The minimum subscription during this period is 1,000 units. Upon listing, the ETF will be quoted and traded in board lots of 100 units.
With the launch of this ETF, SGX will have 43 ETFs covering worldwide equity markets such as Singapore, India, North Asia, ASEAN, United States, Eastern Europe, Latin America and emerging markets as well as commodities, including gold.
Source: UOB Asset Management Ltd
Jersey companies approved for listing on Hong Kong Exchange
October 21, 2009--Jersey companies have been approved for listing on the Hong Kong Stock Exchange.
The move is a significant development for Jersey’s finance industry, which is seeking to increase business flows from the Asia Pacific region.
The formal inclusion of Jersey companies on the Hong Kong Exchange’s approved list of companies able to float on its exchange is the result of more than a year’s negotiation, research and document preparation involving government officials in Jersey, representatives from Jersey Finance and the finance industry.
read more
Source: ETF Express
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
October 20, 2009-Highlights
Market Overview
There are 187 equity based ETFs in the Asia Pacific region with 243 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 41.19% of the whole market, whilst China has the largest market share by turnover with 42.91%.
There was one new listing in the last week. Samsung Investment Trust Management listed one new ETF on Korean Stock Exchange.
Turnover
Monthly average daily turnover declined 3.8% in the last week. Turnover for the previous week was USD 838m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 200m accounting for 23.9% of total turnover.
Assets Under Management
AUM rose 2.7% in the previous week. AUM as of Oct 19th were USD 61.7bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BGI, with AUM of USD 6.7bn.
To request a copy of the report click here
Source:Aram Flores and Shan Lan -DB Index Research
China car output 'breaks record'
October 20, 2009-The 10 millionth car produced this year rolled off the First Automobile Works Group assembly line in Changchun, the official Xinhua News Agency reported.
Despite the downturn and falling sales at most global carmakers, demand for cars in China is booming.
read more
Source: BBC
ETF Landscape, Asia Pacific ex-Japan Industry Review, October 2009
October 19, 2009-Highlights:
AT THE END OF Q3 2009 THE ETF INDUSTRY HAD 114 ETFS WITH 187
LISTINGS, ASSETS OF $35.58 BN, FROM 37 PROVIDERS ON 13 EXCHANGES
IN ASIA PACIFIC EX-JAPAN.
YTD ASSETS HAVE GROWN BY 49.7% WHICH IS LESS THAN THE 59.2%
RISE IN THE MSCI AC ASIA PACIFIC EX-JAPAN INDEX IN US DOLLAR TERMS.
YTD THE NUMBER OF ETFs INCREASED BY 18.8% WITH 20 NEW ETFs LAUNCHED, WHILE FOUR ETFs WERE DE-LISTED.
YTD THE AVERAGE DAILY TRADING VOLUME IN US DOLLARS INCREASED BY 92.0% TO US$1,008.95Mn.
STATE STREET GLOBAL ADVISORS IS THE LARGEST ETF PROVIDER IN TERMS OF ASSETS WITH US$9.55 BN UNDER MANAGEMENT IN SIX ETFs AND EIGHT LISTINGS, REFLECTING 26.9% MARKET SHARE; ISHARES IS SECOND WITH US$6.98 BN IN EIGHT LOCALLY DOMICILED ETFs AND 32 LISTINGS IN TOTAL;
A 19.6% MARKET SHARE; FOLLOWED BY HANG SENG INVESTMENT MANAGEMENT WITH THREE PRODUCTS AND ASSETS OF US$4.91 BN AND 13.8% MARKET SHARE AT THE END OF Q3 2009.
THERE ARE CURRENTLY PLANS TO LAUNCH 39 NEW ETFs
IN ASIA PACIFIC EX-JAPAN, NET SALES OF MUTUAL FUNDS (EXCLUDING ETFs) WERE US$51.7 BN, WHILE NET SALES OF ETFs WERE NEGATIVE US$0.1 BN DURING THE FIRST SEVEN MONTHS OF 2009 ACCORDING TO STRATEGIC INSIGHT.
Visit Barclays Global for more information.
Source:ETF Research and Implementation Strategy, BGI
SGX And SPH To Launch Free Financial Portal For Retail Investors
October 16, 2009--Singapore Exchange (SGX) and Singapore Press Holdings (SPH) today signed a Heads of Agreement to develop a free financial portal, targeted for launch in the second half of 2010.
The portal aims to provide the investing public integrated content from both SGX and SPH. In one comprehensive website, users will be able to obtain SGX’s live market data, company announcements, research reports, regulatory news as well as SPH’s breaking news on companies and stock markets. In addition, users will have access to an Investor Relations (IR) section maintained by SPH-owned ShareInvestor.com (SI), which is a financial internet media and technology company. The IR section provides users corporate information of over 200 companies listed on SGX.
The English portal will be launched first, followed by a Chinese version in due course.
SPH will facilitate online advertisements on the portal, which provide advertisers the reach to a large audience of the investing public. The portal will be marketed as part of SPH’s AsiaOne Network.
Mr Hsieh Fu Hua, Chief Executive Officer of SGX said, “SGX is pleased to partner SPH to offer a portal for investors to access key market information from the combined data bases of our two organisations. We expect this to be the choice site for investors in our market.”
Mr Alan Chan, Chief Executive Officer of SPH, said: “SGX’s website is very much the de facto website for the investing public to access stock market information. We believe this collaboration will provide an even more useful portal to the investing public by adding SPH news and Shareinvestor’s investor relations information to the SGX website content. This is in line with SPH’s push to engage minds and enrich lives as well as enhance our financial services offering.”
This collaboration marks the second time SGX and SPH have embarked on a major endeavour. Both companies launched the revamped Straits Times Index and 21 other indices under the FTSE ST index suite.
Source: Online News
OCBC to buy ING's Asia private banking assets
October 15, 2009-Singapore's Oversea-Chinese Banking Corp., the country's third-largest bank, said Thursday it will buy the Asian private banking assets of Dutch lender ING Groep NV for $1.46 billion in cash.
The acquisition will more than triple OCBC's private banking assets to $23 billion and will position the bank to take advantage of the region's burgeoning wealth management sector, it said in a statement.
Last week, ING sold its Swiss private banking business to Julius Baer Group Ltd.
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Source: FT.com
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