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India stock market to launch derivatives on S&P, Dow
August 26, 2011-India's National Stock Exchange (NSE) will launch derivative contracts on the Standard & Poor's 500 and the Dow Jones Industrial Average on Monday, it said in a statement, allowing Indian investors access to global indices.
"Derivative contracts on these global indices will provide Indian investors easy access to U.S. markets in Indian market hours, without taking any currency risk," Ravi Narain, chief executive of the NSE, said in a statement.
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Source: Reuters
Tokyo stops run of losses as bankers gather
August 26. 2011--Japanese stocks snapped a four-week run of losses although trading was choppy ahead of a key speech from Ben Bernanke at a gathering of central bankers at Jackson Hole, Wyoming.
Analysts suggested that fading expectations that the Federal Reserve chief would unveil a further programme of quantitative easing had helped bolster expectations that the yen might weaken against the dollar – giving a lift to Japanese exporters’ shares.
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Source: FT.com
Asia’s Hedge-Fund Assets to Grow, May Reach $180 Billion, Eurekahedge Says
August 26, 2011--Assets managed by Asian hedge funds may exceed $180 billion in the next 12 to 18 months as the region’s growth attracts investors amid U.S. economic and Europe sovereign debt concerns, according to Eurekahedge Pte.
Asian hedge-fund assets stood at $134 billion at the end of June, compared with $14 billion at the start of 2000, according to an e-mailed report by the Singapore-based industry researcher. The number of funds has grown eight times to 1,235 since 2000, the report said, citing increased popularity of hedge funds and the easing of regulatory restrictions in the region.
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Source: Bloomberg
Asian stocks jump after Wall St rally
August 25, 2011--Asian markets surged on Thursday, following another rally on Wall Street and ahead of a speech by Fed chief Ben Bernanke that many hope will outline plans to kickstart the ailing US economy.
The more positive mood - helped by a strong batch of US manufacturing data - saw safe haven assets fall, with gold tumbling from its record high above $1 900 and the yen weakening.
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Source: FIN24
NSE to launch derivatives trading on S&P 500, Dow on Monday
August 25, 2011--Indian investors from Monday will be able to take an exposure in the US equity markets on the NSE via rupee-denominated derivative contracts based on S&P-500 and Dow Jones Industrial Average (DJIA).
The new contracts will include futures on both the DJIA and the S&P 500, and options on S&P-500. Also, the trades are to take place in Indian trading hours.
Trading in derivatives on the global indices is restricted to Indian residents only, which means foreign institutional investors and non-resident Indians can not participate on this trade.
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Source: Hindu Business Line
S.Korea's Retail Investors Make Market Waves with Wrap Fervour
Wrap accounts explode in popularity over past year in Korea
They exaggerate volatility with concentrated bets on few stocks
Regulators closely watching wrap accounts
Korean investors tend to herd into "next big thing"
August 25, 2011-Henry Seggerman has spent two decades investing in South Korea and over the years he has seen his fair share of market quirkiness. But when he heard about the princes and princesses, he was amazed.
Seggerman, who is chief investment officer of International Investment Advisors, has been closely following the latest investment craze in South Korea -- wrap accounts. Over the past year, they have become a dominant and sometimes dangerous force in the Korean equity market, adding fuel to a sell-off this month that could become the biggest on record.
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Source: Reuters
Moody's cuts Japan rating, blames politics
August 24, 2011--Moody's Investors Service cut its rating on Japan's government debt by one notch to Aa3 on Wednesday, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
Japan is preparing to elect its sixth leader in five years to replace unpopular Prime Minister Naoto Kan, under fire for his handling of the response to a March tsunami and subsequent radiation crisis at a crippled nuclear power plant.
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Source: Todays Zaman
China to launch first wine investment fund
August 23, 2011--China’s burgeoning taste for the good life is about to find a new outlet with the launch of the nation’s first wine investment fund.
The Dinghong Fund plans to raise Rmb1bn ($156mn) and will invest in vintages from Bordeaux and Burgundy.
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Source: FT.com
Beijing crackdown hits rare earths mining
August 23, 2011--The red clay hills of southern China might seem like an unlikely spot for a global tug of war. But that is exactly what is playing out there as Beijing cracks down on the mining of rare earths, the 17 elements crucial for the electronics used in everyday life.
In recent weeks some of the mines gouged out of hillsides in Jiangxi province have been broken up, others mothballed, as China – which controls nearly all the world’s rare earths production – tightens environmental rules governing the industry. The move, which will cut supply, will send shivers through the global rare earths supply chain.
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Source: FT.com
Barclays Lists Japan's First Exchange Traded Notes On Tokyo Stock Exchange - Barclays iPath® ETN Series
August 23, 2011--Barclays Bank PLC announced today the launch of nine iPath® Exchange Traded Notes (ETNs) on the Tokyo Stock Exchange (TSE), marking the first ever ETN listing in Japan.
This will also be the first listing of non-Japanese securities in a format of Japanese Depositary Receipts (JDRs). As stated in the below table, two ETNs (volatility and commodity-related) were listed today and seven ETNs (commodities-related) will be listed on September 6, making up a total of nine products.
A listing ceremony was held today at the TSE attended by Eiji Nakai, President and CEO of Barclays Capital, Japan and Atsushi Saito, President and CEO of TSE, who, together with business partners of the firm, were present at a bell ringing ceremony at the TSE to mark this key milestone in the development of the ETN market in Japan.
“iPath® is known globally as a brand name of Barclays' ETNs. iPath® ETNs provide investors a new innovative investment with opportunities to access previously difficult to reach markets and investment strategies. We believe that the creation of an ETN market addresses the shortage of alternative investments and will help revitalise the Japanese economy,” said Eiji Nakai, President and CEO of Barclays Capital Japan.
Atsushi Saito, President and CEO of TSE, said, “The iPath series is issued by Barclays Bank, one of the world's leading financial institutions. We are delighted to welcome this ETN as the first to be listed on our market. In addition to the existing ETF market, I firmly believe that this listing will provide more diversified investment methods to Japanese investors as well as improve market convenience. TSE will strengthen its functions as a platform which provides a variety of financial instruments.”
Source: Barclays
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