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What's behind China's video game restrictions?
September 6, 2021--China placed strict limits on the time young people may spend playing online games.
The move is part of a broader effort to enforce social guidelines.
But cracking down on video game play is not unique to China.
Things were looking bad for young Chinese gamers by early August.
A state-run newspaper had just equated online gaming with "opium," likely striking a chord in the psyche of a country targeted by Western powers during the 19th century "Opium Wars" (remnants of that era of "national shame" are carefully preserved for tourists and schoolchildren).
Shares of the country's biggest game company crumpled in response to the harsh rhetoric, and by last week new rules had been issued that sharply limit the time children may spend on a wildly popular diversion.
Online gaming in the country is now only available to people younger than 18 from 8 p.m. to 9 p.m. on Fridays, Saturdays, Sundays and public holidays. The decree is supported by an "anti-addiction" registry.
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Source: World Economic Forum
Singapore to Host SPAC Listings, in a First Among Asian Financial Hubs
September 2, 2021--The city-state's enthusiasm for blank-check companies is in contrast with U.S. regulators’ hardening stance
Singapore will become the first major financial hub in Asia to allow blank-check companies to list.
On Thursday, the Singapore Exchange released new rules for special-purpose acquisition companies to be listed on its main board, concluding a monthslong consultation process just as American regulators step up scrutiny of the investment vehicles.
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Source: wsj.com/
South Korea gives green light to sale of China-listed ETFs
September 1, 2021--Move paves the way for implementation of cross-border ETF link between the two countries
South Korea's securities regulator has amended rules to allow domestic fund managers to offer Shanghai-listed exchange traded funds, paving the way for the implementation of the upcoming cross-border ETF link between the two countries.
Local fund groups can now register ETFs listed on the Shanghai Stock Exchange (SSE) for sale in South Korea, following an announcement by the Financial Services Commission last week.
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Source: ft.com
China's factory activity contracts for first time since April 2020
August 31, 2021--China's factory activity slipped into contraction in August for the first time in nearly 1-1/2 years as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on output in a blow to the economy.
The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery and the impact of strict coronavirus curbs in the country, backing expectations Beijing will roll out more support measures to revitalise growth.
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Source: news.yahoo.com
ETF Securities Releases Semiconductors ETF in Australia-Enabling Investors to Participate in this Indispensable Industry
August 31, 2021--The ongoing semiconductor shortage caught many businesses off guard as production of chips slowed down during the global pandemic. From domestic appliances to cars,almost every technological device relies on semiconductors,and the global shortage has taken its toll: car manufacturers idled their production lines[1] or- on the more creative side-utilized dummy chips in their production,which will be replaced by functional semiconductors as soon as the capacity allows it[2].
While there is a shortage,demand for semiconductor technology increases in the light of a global 5G rollout,interconnectivity,and smarter consumer technology. Major Australian issuer ETF Securities now releases an ETF,the ETFS Semiconductor ETF (ASX: SEMI). This fund is the first Australian passive investment product in that space.
In its market forecast,the World Semiconductor Trade Statistics (WSTS) expects the worldwide semiconductor market growth to rise from 6.8 percent in 2020 to a staggering 19.7 percent in the year 2021,which corresponds to a market size of US$ 527 billion. For 2022,WSTS expects growth by 8.8 percent.[3] Enjoying tailwinds,companies active in the semiconductor business can be expected to outperform for the foreseeable future.
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Source: Solactive AG
Vietnam's economy is forecast to grow by about 4.8 percent in 2021: WB
August 24, 2021--Vietnam's GDP is expected to expand by about 4.8 percent in 2021, although it has posted a robust economic performance in the first half of this year. This forecast, two percentage points lower than the projection made by the World Bank Group in December 2020, accounts for the negative impacts of the ongoing COVID-19 wave on economic activity.
The forecast was made in the latest edition of Taking Stock- the World Bank's biannual update on Vietnam's economic performance released today- highlighting the economic pains associated with the most recent COVID-19 outbreak. The mobility measures adopted by the government to contain the pandemic have hit the economy domestically.
view the Taking Stock:Digital Vietnam -The Path to Tomorrow report
Source: World Bank
Japan's economy rebounds in Q2, COVID clouds outlook
August 15, 2021--Japan's economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic's initial hit.
But many analysts expect growth to remain modest in the current quarter as state of emergency curbs reimposed to combat a spike in infections weigh on household spending.
The world's third-largest economy grew an annualised 1.3% in April-June after a revised 3.7% slump in the first quarter, preliminary gross domestic product (GDP) data showed on Monday, beating a median market forecast for a 0.7% gain.
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Source: yahoo.com
China Signals Its Regulatory Crackdown Will Go On for Years
August 11, 2021--Authorities release five-year plan to strengthen rule of law
Calls for greater law enforcement across a range of sectors
China released a five-year blueprint calling for greater regulation of vast parts of the economy, providing a sweeping framework for the broader crackdown on key industries that has left investors reeling.
The document, jointly issued late Wednesday by the State Council and the Communist Party's Central Committee, said authorities would "actively" work on legislation in areas including national security, technology and monopolies. Law enforcement will be strengthened in sectors ranging from food and drugs to big data and artificial intelligence, the document said.
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Source: bloomberg.com
ASX Investment Products Monthly Update-July 2021
August 8, 2021--In July 2021, total assets under management of all ASX Investment Products increased from $410.65b to $423.05b.
ETPs were up 2.6% (up from $113.52b to $116.5b), mFunds were up 1.1% (up from $1.74b to $1.76b),
LICs & LITs were up 2.1% (up from $58.34b to $59.54b), AREITs were up 0.5% (up from $155.1b to $155.9b) and Infrastructure Funds were up 9.0% (up from $81.97b to $89.35b).
ASX also welcomed 1 new ASX Investment Product in the month of July.
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Source: asx.com.au
IMF Staff Country Report-Philippines: Selected Issues
August 6, 2021--POTENTIAL OUTPUT AND SCARRING EFFECTS1
The COVID-19 pandemic led to a major economic downturn in the Philippines that could inflict longer-lasting adverse effects on the economy. These scarring effects reflect persistent pandemic effects on tourism and a few other service sectors, lower investment, skilllosses from high un-and underemployment, and increases in poverty.
Expansionary fiscal policy to stimulate demand and investment, measures to resolve a possible corporate debt overhang after the pandemic, and labor market policies to encourage sectoral reallocation would help to mitigate the extent of economic scarring.
A. Recent Developments1.
The COVID-19 pandemic led to a major economic downturn in the Philippines, although a rebound is now underway. Economic activity was negatively affected by the disruption to supply from the pandemic and containment measures. Real GDP in2020 decreased by 9.6percent and unemployment rate rose to 10.4 percent in 2020 from 5.1 percent in2019.With the easing of containment measuresand policy support, economic recovery started in the second half of 2020. However, the COVID-19 impact has not yet been reversed, and a second wave of COVID-19 infections emerging in 2021 has slowed down the recovery. The real GDP level in the first quarter of 2021was still 4.2 percent lower than it was in the same quarter of last year. The unemployment rate also remained at 8.2 percent in first five months of 2021.
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Source: IMF.org
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