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DB Global Equity Index & ETF Research-- Asia-Pacific ETP Market Weekly Review
September 13, 2010--Market Overview
There are 231 equity based ETFs in the Asia Pacific region with 324 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.11% of the whole market, whilst China has the largest market share by turnover with 37.03%.
There was no new listing last week.
Turnover
Monthly average daily turnover remained at about the same level in the last week. Turnover for the previous week was USD 841m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 137m accounting for 16.3% of total turnover.
Assets Under Management
AUM rose 1.3% in the previous week. AUM as of Sep 10th were USD 64.4bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker managed by BlackRock with AUM of USD 6.8bn.
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Source: DB Global Equity Index & ETF Research
India's gold ETF collection doubles to 12.13T in Aug
September 13, 2010--India's gold collection under exchange-traded funds for August almost doubled to 12.132 tonnes as investors sought hedge to protect wealth from global economic uncertainty, data from the funds showed.
Gold futures on the Multi Commodity Exchange (MCX) was trading 0.07 per cent lower at Rs 18,851 per 10 grams, down 1.8 per cent from the all-time high of Rs 19,211 struck on Tuesday.
The contract had gained 7.7 per cent in August.
Though gold collections under ETFs are growing, they remain miniscule against India's imports of about 400-700 tonnes annually.
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Source: Business Standard
ETFs trading volumes up by 20% this year
September 13, 2010--Experts have said Exchange Traded Funds (ETFs) are back in vogue in Asia, with trading volumes growing by 10 to 20 per cent so far this year.
Demand for ETFs from retail investors is still low, but industry players expect it to rise, similar to trends seen in the US.
The ETFs started trading in the US in 1993. Since then, the securities have grown at a compounded annual growth rate of some 20 to 30 per cent a year.
This increase has also driven up participation from retail investors who account for half of the market.
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Source: Channel News Asia
China dodging hard landing risk
September 10, 2010--The Chinese economy appears to be stabilising after several months of slowdown, reducing the risk that the country will suffer a hard landing as post-crisis stimulus is withdrawn.
Coming on top of a surge in imports last month, figures released over the weekend indicated that domestic demand remains robust and suggested that the authorities will likely be able to avoid an abrupt slowing in economic growth, a matter of intense concern among investors globally.
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Source: FT.com
Japan alarm over China’s JGB purchases
September 9, 2010--Japan has expressed concern about China’s recent sharp increase in purchases of Japanese government bonds in the latest of a series of sour notes in a traditionally tense bilateral relationship that both sides had worked hard to steady.
China’s purchases of JGBs is an especially sensitive issue as it plays into anxieties in Japan about the strengthening yen and its impact on the economy.
Tokyo and Beijing also clashed this week after Japanese authorities arrested the captain of a Chinese fishing boat in the disputed waters of the East China Sea.
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Source: FT.com
DB Global Equity Index & ETF Research-- Asia-Pacific ETP Market Weekly Review
September 7, 2010--Market Overview
There are 231 equity based ETFs in the Asia Pacific region with 324 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.18% of the whole market, whilst China has the largest market share by turnover with 38.68%.
There were three new ETFs listed in the previous week. Deutsche Bank listed two new commodity future based ETFs in Singapore SE and Prudential ICICI Asset Management listed one new Gold ETF in NSE (India).
Turnover
Monthly average daily turnover declined 2.4% in the last week. Turnover for the previous week was USD 835m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 142m accounting for 17.0% of total turnover.
Assets Under Management
AUM rose 1.3% in the previous week. AUM as of Sep 3rd were USD 63.6bn. The largest ETF by AUM is the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker, managed by BlackRock, with AUM of USD 6.8bn.
To request a copy of the report
Source: DB Global Equity Index & ETF Research
Japan start up bourse still awaits first listing
September 7, 2010--More than a year after its launch, the Tokyo and London stock exchanges’ Japanese joint venture bourse for start up companies is still waiting for its first listing.
The TSE said the bourse has been trying to rectify the problem by talking directly with foreign financial companies, such as boutique investment banks and accountancy firms with experience in markets such as London’s Aim, to come to Japan as nominated advisers (“nomads”), which guide the companies during and after listing on Tokyo Aim.
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Source: FT.com
India & Pakistan Rupee Rises a Fourth Day as Faster Growth Draws Funds to India's Stocks
September 6, 2010--India’s rupee gained for a fourth day, the longest winning streak in a month, on speculation accelerating economic growth will draw more funds from abroad.
The currency touched a two-week high after overseas funds boosted their holdings of Indian equities to a record $85.8 billion on Sept. 2, having bought more shares than they sold every week since May.
The Bombay Stock Exchange’s Sensitive Index has advanced 2.4 percent since the government on Aug. 31 said the economy expanded 8.8 percent in the last quarter, the most since 2007. The rupee was also supported after the dollar fell last week against all but one of 16 major currencies.
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Source: Bloomberg
SZSE releases ETF risk management guidelines for maintaining steady and healthy development
September 3, 2010--The foundation of ETF products development is to build up perfect risk management system and practically carry out all kinds of risk prevention and disposal measures. The SZSE has attached much importance to innovation and development of funds business during the course of pushing forward multi-layered capital market construction.
And the SZSE also commits to pushing market system building and products innovation while unceasingly perfect LOF business platform, enriching various innovation funds products. At the same time, the SZSE has always put risk prevention in the first place while paying much attention to market development. In order to uphold the safe operation of ETF market and promote the steady and healthy development of the market, the SZSE has enacted the “Guidelines of the Shenzhen Stock Exchange for Risk Management of Exchange Traded Funds” by deepened analysis on risk factors and fully communicating with ETF management institutions at home and abroad.
The “Guidelines” put forward the specific requirements in terms of arrangement of personnel operating ETF businesses in fund management companies, technology, system preparation, information production, disclosure procedure and real-time risk monitoring, and so on. The SZSE also will perfect risk control measures jointly with fund management companies, take the further step to strengthen ETF risk management work, better place the foundation for the long-term development of ETF products according to the requirement of the “Guidelines”.
Source: Shenzhen Stock Exchange (SZSE)
European Business in China Position Paper 2010/2011
September 2, 2010--Executive Summary
Improved market access and a more level playing field are necessary to achieve China’s transition to a more balanced growth model.
1. Crisis & Recovery
1.1. A New Model: In Crisis, Opportunity
Despite the state of the global economy in 2009, China achieved 9.1 percent year-on-year growth and 11.1 percent in the first half of 2010. This growth was spurred by a four trillion RMB fiscal stimulus and a loose monetary policy, benefitting both China and the world at large. As China and the rest of the world recover from the crisis, China’s leadership has stated its priority of transitioning from its previous investment and export-driven growth model to a more sustainable one based on the concepts of “balanced growth”, “innovative society” and “harmonious society.” 1
Taken together, these macro goals entail:
• Ensuring social stability
Developing a vibrant modern service sector
Developing domestic consumption
Urbanisation and developing rural areas
Developing into a low carbon and energy efficient economy
Deepening reform of the market economy and increasing competition
1.2. Foreign investment, a key factor to sustainable growth
EU business clearly has the potential to contribute to this policy through its investments. In 2008 less than 3% of EU outbound foreign direct investment (FDI) went to China.2 This is not because European companies do not want to expand their China operations including in the central and western parts of the country, but rather because they face obstacles or risks in excess of what their boards and stakeholders will allow them to bear. The European Chamber looks forward to the practical implementation of the State Council pronouncements on April 2010, on encouraging foreign investment as a means to furthering long-term development goals.3
The right business environment is required in order for European businesses to fully contribute:
Open: ensuring market access
Fair: non-discriminatory
Transparent: providing access to information needed to make necessary business decisions and based on dialogue
between business and policy makers
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Source: European Chamber of Commerce in China
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