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Hong Kong ETF turnover surges 80%
July 23, 2013--Trading of exchange-traded funds in the Hong Kong market increased 80% during the first half of 2013, compared with the previous six months, as investors flocked to access mainland Chinese stocks.
The average daily turnover of ETFs listed on Hong Kong Exchanges and Clearing reached HK$4.5 billion ($580 million) in the first six months of the year, compared with HK$2.5 billion in the second half of 2012, according to data published by local regulator the Securities Futures Commission on Friday.
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Source: Financial News
IISL appointed index provider for proposed CPSE ETF
July 23, 2013--The department of disinvestment, in consultation with Goldman Sachs AMC, has appointed India Index Services & Products (IISL) as the index provider for the proposed CPSE ETF (central public sector enterprises-exchange traded fund), according to a media report.
Earlier this year, the Cabinet gave its approval to form the CPSE ETF for PSUs. The government plans to raise Rs. 50 billion through ETFs as a part of its Rs. 400 billion divestment plan in the current fiscal.
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Source: India Infoline News Service
New ideas and education needed for ETF growth in Asia
July 24, 2013--Although inflows into Asia-Pacific ETF assets have risen by more than 50% in the past year, this is coming off a very low base.
The challenge for the various issuers is to convert interest into investment. According to the latest survey by Deutsche Asset & Wealth Management, 64% of investors say they are considering using Asian-listed ETFs as they trade in parallel trading hours to their respective market.
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Source: IP&E
SGX, POSB launch new Invest-Saver product
July 22, 2013--To encourage more Singaporeans to start investing early for retirement, the Singapore Exchange (SGX) and POSB have come up with a new product that allows one to invest in exchange traded funds while also saving for retirement.
SGX added that it is on the lookout for potential partnerships that can make long term investing more accessible for their customer base.
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Source: Channel News Asia
SGX proposes to add new Asian Index Futures
July 19, 2013--Singapore Exchange (SGX) proposes to add new Asian Index Futures contracts to provide global customers an extensive coverage into Asia's key markets.
These contracts will complement SGX's current suite of futures contracts including SGX MSCI Singapore, SGX MSCI Indonesian, SGX MSCI Taiwan, SGX Nikkei 225 (Japan), SGX FTSE China A50 and SGX CNX Nifty (India). The proposed new contracts comprise the following :-
SGX MSCI Thailand Index Futures, which covers a total of 28 component stocks from Thailand;
SGX-PSE MSCI Philippines Index Futures, which covers a total of 18 component stocks from Philippine, and
SGX MSCI India Index Futures which covers a total of 75 component stocks from India.
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Source: Singapore Exchange (SGX)
SGX consults public on closing price methodology for ETFs
July 19, 2013--Singapore Exchange (SGX) is proposing to publish closing prices for exchange traded funds (ETFs) and put in place a methodology to determine closing prices for ETFs that will reflect more closely, the prevailing market conditions.
This will allow investors of ETFs to have an up-to-date closing price for making investment decisions and portfolio valuation.
SGX is consulting the public on the proposed methodology for determining the closing prices of ETFs. SGX believes that this proposed methodology, together with a wider product range, improved liquidity and a more diverse retail and institutional participation, will promote a more vibrant ecosystem for ETFs.
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Source: Singapore Exchange (SGX)
Bourse dangles incentive to jumpstart ETFs
July 19, 2013--The Philippine Stock Exchange (PSE) has dangled a carrot to encourage investors to give exchange-traded funds (ETFs) a try.
In a statement, the PSE today said it will waive transaction fees on market makers, or those who generate buy and sell orders for shares in ETFs. The PSE imposes a transaction fee equivalent to 0.0005 percent of the value of a share bought or sold at the bourse.
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Source: InterAksyon.com
China's first gold ETFs raise $261 million, below expectations
July 19, 2013--China's first two newly launched gold exchange-traded funds have raised a total of 1.6 billion yuan ($261 million) in their initial funding round, coming in below expectations due to sliding gold prices and a recent credit-crunch scare.
The launch of China's first gold-backed ETFs is being closely watched to judge local investors' appetite for paper gold in a country where physical bullion is in great demand for weddings, gift-giving and as an investment tool.
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Source: Rueters
PSE steps up information drive on ETF
July 17, 2013--The Philippine Stock Exchange (PSE) has drummed up its information campaign to educate the public and market participants on Exchange Traded Funds (ETF).
Part C of the PSE ETF rules, which governs ETF Market Making activities, was formally approved by the Securities and Exchange Commission on June 20, 2013. The SEC approved Parts A and B of the same rules in March, 2013.
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Source: Yahoo News
IMF-People's Republic of China: 2013 Article IV Consultation
July 17, 2013--KEY ISSUES-Overview
China's economic performance over the past three decades has been remarkable, a testament to
its ability to implement necessary but difficult reforms.
Continued success now requires another round of decisive measures-in line with the new leadership’s expressed intention to re-energize the reform effort.
Outlook and risks. Staff expect the economy to grow by 7¾ percent this year, although with downside risks from both external and domestic uncertainties. Since the global crisis, a mix of investment, credit, and fiscal stimulus has underpinned activity. This pattern of growth is not sustainable and is raising vulnerabilities. While China still has significant buffers to weather shocks, the margins of safety are diminishing. Policies. To secure more balanced and sustainable growth, a package of reforms is needed to contain the growing risks while transitioning the economy to a more consumer-based, inclusive, and environmentally-friendly growth path.
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Source: IMF
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