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Hedge funds help China ETFs shine
July 25, 2022-The demand for swap contracts to short Chinese stocks means synthetic ETFs have outperformed
Small investors do not often get the chance to profit from the actions of professional hedge fund slickers, but in some cases they appear to be doing so in the mainland Chinese stock market.
A structural anomaly means investors using some exchange traded funds to access Shanghai and Shenzhen-listed "A shares" may be able to consistently outperform the underlying index - thanks to the desperation of hedge funds to short stocks by using a "swap enhancement"
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Source: ft.com
IMF Staff Country Report-Singapore: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Singapore
July 21, 2022--Summary:
Singapore registered one of the most impressive recoveries from the pandemic, with economic output having surpassed pre-crisis levels at end-2021. This was spurred by the country's strong economic fundamentals, an impressive vaccination rollout, and the authorities' decisive policy responses.
However, the recovery has been uneven with activities in tourism-related, consumer-facing and construction sectors remaining well below pre-pandemic levels.
Inflation has risen rapidly due to higher food and energy, private transport, and housing prices, but inflation expectations remain well anchored. Risks to the outlook are tilted to the downside, arising mainly from the war in Ukraine and the related sanctions, the pandemic, China's growth slowdown, and monetary policy normalization in advanced economies.
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Source: imf.org
BetaShares Australian ETF Review: Half year 2022: Net Inflows Remain Positive but Market Falls Cause Industry Decline
July 20, 2022--Given market declines and overall investor caution we saw a far less buoyant Australian ETF industry in the first half of this year compared to the same time last year. Industry flows remained positive, albeit at lower levels than the first half of 2021, but were not sufficient to combat the market falls, leading the ETF industry's FuM to decline. Read on for details, including best performers, asset flow categories and more.
Market cap
Australian Exchange Traded Funds Market Cap: $124.3B
Market cap change for month: -9%, -$12.6B
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Source: betashares.com.au
China-South Korea ETF cross-listing scheme stalls
July 12, 2022--The programme was announced last year but companies say there has been no progress
More than a year after Shanghai and South Korea stock exchanges signed an agreement to cross list exchange traded funds, issuers in China and South Korea say there has been no progress.
They say there has been no movement on the regulatory front and investor appetite for prospective ETFs in the scheme has been questioned.
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Source: ft.com
IMF Working Paper-Financial Sector and Economic Growth in India
July 8, 2022--Summary:
India's financial sector has faced many challenges in recent decades, with a large, negative, and persistent credit to GDP gap since 2012. We examine how cyclical financial conditions affect GDP growth using a growth-at-risk (GaR) approach and analyze the link between bank balance sheets, credit growth, and long-term growth using bank-level panel regressions for both public and private banks.
We find that on a cyclical basis, a negative shock to credit or a rise in macro vulnerability all shift the distribution of growth to the left, with lower expected growth and higher negative tail risks; over the long term, the results indicate that higher credit growth, arising from better capitalized banks with lower NPLs, is associated with higher GDP growth.
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Source: imf.org
ETFs come to China with a vengeance
July 7, 2022--Exchange-traded funds track a basket of stocks that can be bought and sold as a single asset.
In five years, mainland China saw the number of ETFs more than quadruple to 645, while the number of stocks rose by a mere 53% to 4,615.
A regulatory change that took effect Monday opened that ETF market to overseas investors via Hong Kong - a program called the ETF Connect.
China has joined the global craze over exchange-traded funds, the investment product that lets traders buy and sell a basket of stocks.
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Source: cnn.com
Mainland ETFs dominate as China-Hong Kong trading scheme goes live
July 6, 2022--More than 80 Shanghai and Shenzhen-listed ETFs can now be traded via the northbound Stock Connect route
Investors in mainland China and Hong Kong began trading exchange traded funds across each other's markets this week, with strategies from the mainland far outnumbering their Hong Kong-listed counterparts.
Under the new cross-border trading scheme, which debuted on the first trading day after the 25th anniversary of the handover of Hong Kong on July 1, 83 mainland-listed ETFs, including 53 in Shanghai and 30 in Shenzhen, can now be traded by international investors via the northbound Stock Connect route, compared with only four Hong Kong-listed ETFs during the initial stage.
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Source: ft.com
HKEX Celebrates Launch of ETF Inclusion in Stock Connect
July 4, 2022--Hong Kong Exchanges and Clearing Limited (HKEX) today (Monday) celebrates the successful launch of the inclusion of ETFs in Stock Connect with a virtual market open ceremony.
The virtual event, viewed by market participants, welcomed speeches from representatives that include regulators, exchange operators as well as securities registration and clearing institutions in Hong Kong and Mainland China, and culminated with a gong-striking ceremony to mark the start of trading.
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Source: Hong Kong Exchanges and Clearing Limited (HKEX)
OneConnect Successfully Listed on the Main Board of the Stock Exchange of Hong Kong
July 3, 2022--OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT), a leading technology-as-a-service provider for financial institutions in China, today announced that it has successfully listed, by way of introduction (the "Listing"), its ordinary shares (the "Shares") on the Main Board of The Stock Exchange of Hong Kong Limited (the "SEHK").
The Shares are traded on the Main Board of SEHK under the stock code "6638" in board lots of 500 Shares, and the stock short name is "OCFT".
The Company's American depositary shares (the "ADSs"), each representing three Shares, remain primarily listed and traded on the New York Stock Exchange (the "NYSE"). In connection with the Company's Listing, the Company's depositary facility for its ADSs is expected to be closed for the deposits of its Shares and will re-open on November 14, 2022.
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Source: OneConnect
New World Bank Group Report Proposes Path for Vietnam to Address Climate Risks while Sustaining Robust Economic Growth
July 1, 2022--The World Bank Group's Country Climate and Development Report for Vietnam underscores the urgency of adaptation to climate change, combined with policies and public and private investments to reduce the carbon intensity of growth.
Vietnam's 100 million people are among the most vulnerable in the world to climate impacts, facing hazards along the country's 3,260-km long coastline and extensive low-lying regions.
Threats to urban and industrial areas, especially in and around the economic powerhouse of Ho Chi Minh City, put large sections of the economy at risk. The Mekong Delta, home to 18 million people, is already being affected by climate change; some provinces could see over 70 percent of their land inundated within 80 years. The report states that Vietnam lost about $10 billion in 2020, or 3.2 percent of its gross domestic product, to climate impacts. Models suggest that the costs to the economy generated by climate change could total as much as $523 billion by 2050. The report argues that investments to address climate impacts are a priority.
view the World Bank Vietnam Country Climate and Development Report
Source: worldbank.org
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