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HK manager EIP to launch seven synthetic ETFs
February 15, 2012--Enhanced Investment Products has become Hong Kong's first local manager to aim large with synthetic exchange traded funds with the launch of a range of synthetic ETFs linked to Asian stock markets.
EIP was established in 2002 by a team from Jardine Fleming. It currently manages US$270m in Asian index funds and $90m in hedge fund strategies and is now expanding into ETFs. The new range will be known as XIE Shares, a play on “thank you” in Mandarin.
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Source: FT.com
The ever-fragile sweet spot-Mirae Asset Financial Group
February 15, 2012-In this issue of Macro Matters, we present a non-technical framework to explain our positive view on the course of Asian asset prices over the next few months, which we've been thinking about for the past month,
The downside of any simple framework risks being an oversimplification of the real world in which investors operate. But given the vast amount of information (both the flood of high frequency data and the mind-numbing flow of detailed discussions involving unresolved policy issues) hitting the market daily, one needs a process that cuts through the noise. There is such a thing as too much information and over-analysis that result in time lags and weak conclusions. No apologies, we are not that smart. We need to simplify things.
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Source: Mirae Asset Financial Group
World's first yuan-denominated gold ETF makes weak debut
February 14, 2012--The world's first yuan-denominated gold exchange-traded fund (ETF) made a weak debut on the Hong Kong stock exchange on Tuesday, but analysts said demand would likely pick up as investors became more familiar with the product.
The Hang Seng RMB Gold ETF (83168.HK), launched by Hang Seng Bank Ltd (0011.HK), is intended to track the performance of the London gold fixing price in U.S. dollars.
read more Chinese Regulator Reviewing E Fund's Application for H-Share ETF read more Gold ETF in Yuan Little Changed on First Day of Hong Kong Trade Spot gold in yuan climbed 6.1 percent last year in Shanghai, less than the 10 percent increase in bullion denominated in dollars, as the Chinese currency climbed 4.7 percent.
read more First RMB ETF to Debut at HKEx The Hang Seng RMB Gold ETF will be the third gold ETF listed on the Exchange and will increase its total number of listed ETFs to 91. Hong Kong's ETF market had the second highest turnover value in Asia-Pacific in 2011 based on statistics published by the World Federation of Exchanges, with average daily turnover of over $2.2 billion. read more DB - Equity Research - Asia Pacific ETF Weekly Review:ETP AUM keeps hovering around $100bn Turnover Review
Assets Under Management Review
to request report JapaneseGDP shrinks 2.3 pct in last quarter of 2011
The world's No. 3 economy should get a boost once that rebuilding money kicks in, but the outlook for the country's vital exporters remains unclear, said Masayuki Kichikawa, chief Japan economist at Bank of America Merrill Lynch.
view more OSE Declines Comment on Report Shareholders Want New Deal Terms
If the deal’s terms aren’t revised, investors said they may vote for the removal of OSE directors at the annual meeting of shareholders in June, a move which might derail the deal, according to the FT. read more China's January inflation jumps to three-month high
Analysts said the holiday, also known as the Spring Festival, was unusually early this year and had distorted the monthly data.
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Source: Reuters
February 14, 2012--The China Securities Regulatory Commission is vetting an application from E Fund Management Co. to start the mainland's first exchange-traded fund tracking the Hong Kong-listed shares of Chinese companies.
The application for the fund linked to the Hang Seng China Enterprises Index was accepted on Feb. 8, according to data posted on the securities regulator’s website yesterday. E Fund, based in the southern city of Guangzhou, is China’s third- largest asset management company with 126.2 billion yuan ($20 billion) of assets as of Sept. 30, according to Howbuy, a Shanghai-based fund tracker.
Source: Bloomberg
February 14, 2012--The first gold exchange-traded fund denominated in yuan closed little changed today after starting to trade in Hong Kong.
The Hang Seng RMB Gold ETF (83168) was introduced on the stock exchange by a unit of the Hang Seng Bank Ltd., the Hong Kong- based lender controlled by HSBC Holdings Plc. The fund closed at 34.90 yuan ($5.54) per share after opening at 34.85 yuan. One share equals one-tenth of a gram and 31,800 shares traded.
Source: Bloomberg
February 13, 2012--Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the pending listing of the first Exchange Traded Fund (ETF) to be traded in RMB on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, tomorrow (Tuesday) when Hang Seng Investment Management Limited (HSIM) lists its Hang Seng RMB Gold ETF.
The first RMB product type to list on the Exchange was debt securities in October 2010, followed by a Real Estate Investment Trust (REIT) listing in April 2011. To date, 14 RMB debt securities and one RMB REIT have been listed on the Exchange.
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
February 13, 2012--Market Review
Asian equity markets came back to positive territory last week. From north to south, Japan (Nikkei 225) gained 1.30%, Korea (KOSPI2) increased by 1.02%, China (CSI 300) grew 1.10%, Hong Kong (HSI) advanced by 0.13%, and Singapore (FSSTI) rose by 1.44%, while Australia (S&P/ASX 200) lost 0.14% over the previous week.
New Launch Review
There was no new listing during last week in the Asia-Pacific region.
Asia-Pacific ETP turnover totaled $6.7bn for last week, 9% up from the previous week’s total. South Korea continues to be on top of the turnover ranking with $2.2bn, followed by Hong Kong ($1.8bn), China ($1.7bn), Japan ($0.5bn), and Taiwan ($0.3bn). Among Equity ETFs, Emerging Country, Leveraged Strategy, Asia Pac Developed Country, and Short Strategy ETFs had total turnover of $3.6bn, $1.1bn, $0.8bn and $0.7bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $120m.
Last week, Asia-Pacific ETP AUM remained close to the $100bn mark and ended at $99.96bn. On a year-to-date basis, Asia-Pacific ETP market is up by $8.5bn or 9.3% above last year’s closing.
Source: Deutsche Bank - Equity Research - Asia Pacific
February 13, 2012--Japan's economy shrank 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand.
A drop in public investment during the quarter, due largely to political bickering delaying parliamentary approval for a 12 trillion yen ($156 billion) extra budget for tsunami reconstruction, also contributed to the year-on-year decline reported Monday.
Source: Todays' Zaman
February 12, 2012--An Osaka Securities Exchange Co. spokesman declined to comment on a report shareholders want management to demand better terms for Tokyo Stock Exchange Group Inc.’s takeover bid.
“The opinions of the shareholders aren’t public and I can’t comment on anything beyond what’s in the public record,” said bourse spokesman Masahiro Yada. Shareholders are pushing for better terms in the deal announced Nov. 22, the Financial Times reported today, citing investors it didn’t name. The price is set and won’t be revised, Osaka bourse President Michio Yoneda, said in an interview with Bloomberg News on Feb. 8.
Source: Bloomberg
February 11, 2012--China's annual inflation hit 4.5 per cent in January, the highest level in three months, due to increased expenditure during the annual Lunar New Year holiday festivities.
The country’s consumer price index, a key gauge of inflation, was higher than 4.1 per cent in December and ended five straight months of easing price pressures caused by government restrictions on lending and property purchases.
Source: The Monitor
