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Indian rupee rises on equities, euro; cbank policy awaited
October 25, 2011--The Indian rupee gained on Tuesday, buoyed by positive domestic equities and a steady euro, with all eyes trained on the central bank's interest rate decision at 0530 GMT.
At 10:28 a.m. (0458 GMT), the partially convertible rupee was at 49.70/71 per dollar, 0.3 percent stronger than Monday's close of 49.825/835.
"The macro report on Monday was less hawkish than expected by most people. There is, therefore, a view that the stance may be moving towards investment encouragement," said Ananth Narayan G., head of fixed income, currencies and commodities at Standard Chartered Bank.
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Source: Reuters
MSCI Launches New Chinese Name MSCI 明晟 ("Ming Sheng")
Market leader demonstrates commitment to Greater China market
MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, including indices, portfolio risk and performance analytics and corporate governance services, announced today the launch of its new Chinese name for use across Greater China - "MSCI 明晟" ("Ming Sheng").
"As our business continues to grow in China, it has become increasingly important for us to have a local brand and identity that is easily recognized by the local market," said Henry Fernandez, Chairman and CEO of MSCI 明晟. "The launch of our new Chinese name - MSCI 明晟 - reflects the company’s commitment to both our clients and our business in China. By combining our global reach and expertise with our significant local resources and insight, MSCI 明晟 is perfectly placed to help our clients in China evolve and grow."
"China plays an important strategic role in the ongoing and future growth of our business – geographically it is one of the highest growth areas in terms of both clients and revenues and we believe that business generated from China will only become more substantial over time," added Mr Fernandez. "We are committed to continue building our local presence in China and have invested significantly in local talent over the last few years. Now that we have the right people in place we are focusing on building our local brand."
MSCI 明晟 opened its first mainland China office in Shanghai in 2005; today the company has over 180 employees located in Beijing, Shanghai and Hong Kong, and more than 200 clients across Greater China.
Source: MSCI 明晟
BSE derivatives trading volume crosses Rs 500 crore
October 24, 2011--The country's premier stock exchange BSE Ltd's derivatives trading volume crossed the Rs 500-crore mark on Monday.
The volume of LEIPS-I touched Rs 546.29 crore with trading in 30 underlying shares on Monday, BSE said in a statement issued here.
The BSE launched market-making scheme, known as the Liquidity Enhancement Incentive Programmes or LEIPs last month with the expectation that it would improve liquidity and benefit to the retail stock market investors.
118 broker-members participated in derivatives trading on the 18th day of LEIPS-I.
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Source: Zeebiz.com
FSA extends temporary measures regarding restrictions on short selling and purchase of own stocks by listed companies
October 24, 2011--1.The following regulatory measures on short selling are currently in place, with regard to all listed stocks in Japan:
1) An "uptick rule requirement" which prohibits, in principle, short selling at the same as or prices lower than the latest market price
2) Requirements for traders to verify and flag whether or not the transactions in question are short selling; and
3) Request the exchanges to make daily announcements on their aggregate price of short selling regarding all securities and aggregate price of short selling by sector (The announcements have been made sequentially since October 14, 2008). (See the FSA press release on October 14, 2008.)
In addition, the Financial Services Agency (FSA) has put in force the following measures, as temporary measures effective until October 31, 2011 (See the FSA press release on April 22, 2011.):
1) Naked short selling (short selling in which stocks are not borrowed at the time of selling) is prohibited (effective since October 30, 2008); and
2) Holders of a short position of a certain level or more (in principle, 0.25 percent or more of outstanding issued stocks) are required to report to exchanges through securities firms. Exchanges are required to publicly disclose such information (effective since November 7, 2008).
2. Regarding the purchase of own stocks by listed companies, taking into consideration the of situation Japan’s capital markets, the following restrictions have been temporarily relaxed over the period from October 14, 2008, to October 31, 2011. (See the FSA press release on April 22, 2011.)
1) Upper limit on the daily purchase volume
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Source: Financial Services Agency Japan
DB - Equity Research - Asia Pacific ETF Weekly Review: ETF AUM remains flat in spite of market downturn
October 24, 2011--Market Review
Asia-Pacific markets edged lower almost unanimously across the whole region. Japan (Nikkei 225) lost 0.79%, China (CSI 300) plunged by 5.50%, Hong Kong (HSI) declined by 2.57%, Singapore (FSSTI) fell by 1.16% and Australia (S&P/ASX 200) decreased by 1.51% over the previous week; while Korea (KOSPI2) gained 0.15% over the same period.
New Launch Review
Four new products were launched in the Asia-Pacific ETP market during last week. The Korean market saw three new ETFs listed in the Korea Exchange, Woori AM launched an ETF tracking Korean 10Y treasuries, KB AM launched an equity ETF tracking the KOSPI 200 index, and, new entrant, KDB AM listed an ETF with social responsibility focus.
The additional ETF was listed by Fortune SGAM FM in the Shanghai Stock Exchange and tracks the SSE 180 growth index (See Figure 4 for further details).
Turnover Review
Asia-Pacific ETP turnover totaled $6.3bn for last week, 19.5% down from the previous week’s total and 31% up from last year’s weekly average. South Korea continues to be on top of the turnover ranking with $3.2bn, followed by China ($1.2bn), Hong Kong ($0.9bn), Japan ($0.5bn), and Taiwan ($0.2bn). Among Equity ETFs, Emerging Country, Short Strategy, Leveraged, and Asia Pac Developed Country ETFs had total turnover of $2.3bn, $1.5bn, $1.2bn and $0.8bn respectively. Under the Commodity asset class, turnover in Gold ETPs totaled $157m, 42% up from last week.
Assets Under Management Review
As markets retreated last week, Asia-Pacific ETP AUM fell to $90.7bn recording a minor decrease of 0.8% over the previous week. On a year to date basis, Asia-Pacific ETP market is $6.5bn or 7.7% above last year’s closing.
to request report
Source: Deutsche Bank - Equity Research - Asia Pacific
Rising cost of credit hits Asian companies
October 24, 2011--Asian companies are being hit with rising costs for raising money in the region – even those with strong credit ratings.
While the severity of the problem varies across the region, junk-rated companies have found credit markets have been almost totally closed to them since June.
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Source: FT.com
BSE: Extended Trading In Gold ETF Securities On The Occasion Of Dhanteras
October 21, 2011--On the auspicious occasion of Dhanteras on Monday, October 24, 2011, the Exchange has decided to conduct Extended Live Trading session in Gold Exchange Traded Funds (ETF) securities in the Equity Segment.
Details of Gold ETF securities that would be available for trading in the extended session are as follows:
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Source: BSEIndia
ICICIdirect and NSE organize gold ETF awareness camps across India
October 20, 2011--ICICIdirect offers special Dhanteras discount of 50% on brokerage on gold ETFs investments
ICICIdirect.com in collaboration with National Stock Exchange announced a nation wide awareness camp for investors, which will be aimed at informing customers about the benefits of investing in gold ETF.
The camp will be organized across 66 cities in India in 240 ICICIdirect centres. The programme is scheduled to be held on Saturday, October 22, 2011.
In the last few years, gold exchange-traded funds (ETFs) have gained popularity in India. Investors are becoming aware of the benefits of investing in gold paper as opposed to holding it as jewellery.
Each gold ETF unit is almost equal to a gram of gold. These units are traded on the exchange like a stock of a company. Gold ETFs can be purchased online and they are one of the cheapest form of purchasing gold as there is no premium or making charge like in purchase of jewellery.
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Source: Moneylife.in
KRX releases new indices (F-LKTB index, F-LKTB inverse index)
October 20, 2011--KRX releases new indices, F-LKTB (Futures - 10 year Korea treasury bond index) and F-LKTB Inverse, from October 24, 2011.
Details of the New Indices
Name of the Index: F-LKTB, F-LKTB Inverse
Base Date: January 3, 2011 (for F-LKTB)
Base Value: 1,000 point
Website information is available on October 24, 2011.
Source: KRX
KRX to Have Three New ETFs Listed
October 20, 2011--The Korea Exchange (KRX) is going to list PIONEER SRI ETF, KB Star 200 ETF, and KOSEF 10-yr KTB ETF on October 20, 2011.
The underlying assets of PIONEER SRI ETF, KB Star 200 ETF, and KOSEF 10-yr KTB ETF are KRX SRI Index, KOSPI 200, and KIS KTB 10Y Index, respectively.
KRX listed 42 new ETFs this year, bringing the total number of ETFs to 106. KRX became one of the largest ETF markets in Asia Pacific region.
Source: KRX
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