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The People's Bank of China and the Monetary Authority of Singapore Announce New Bilateral Currency Swap
March 8, 2013--People's Bank of China (PBC) and the Monetary Authority of Singapore (MAS) today announced the establishment of a new and enhanced bilateral currency swap arrangement to promote bilateral trade and direct investment for the economic development of the two countries.
The new agreement was signed on 7 March 2013 and will replace the old swap arrangement dated 23 July 2010, which is expiring this year.
The new bilateral currency swap arrangement reinforces the co-operation between PBC and MAS to strengthen economic ties and foster financial stability.
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Source: Monetary Authority of Singapore
TSE-ETF/ETN Monthly Report for Feb 2013
March 6, 2013--Continued market vibrancy pushes average daily trading value past JPY 30 billion!
The ETF/ETN market continued to show great energy in February, driven by activity in Japanese stock price index ETFs.
The average daily trading value exceeded JPY 30 billion, up 25% from the previous month.
view the TSE ETF/ETN Monthly Report for Feb 2013
Source: Tokyo Stock Exchange (TSE)
Base prices and daily price limits for newly listed ETF
March 6, 2013--The base price, etc. of NEXT FUNDS Nomura Japan Equity High Dividend 70 Exchange Traded Fund (Code: 1577),
which are scheduled for initial listing on March 7, are as below.
NEXT FUNDS Nomura Japan Equity High Dividend 70 Exchange Traded Fund (Code: 1577) [Trading Unit: 1 units]
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Source: Tokyo Stock Exchange (TSE)
Easier rules on the anvil for public sector ETF manager
The Department of Disinvestment allows taxes to be charged to the scheme but freezes fee quoted for three years
March 6, 2013--The Department of Disinvestment has relaxed a key clause in the Request for Proposal inviting bids from asset management companies (AMCs) to manage a proposed exchange-traded fund (ETF) comprising public sector undertakings.
The government is planning to float this fund as an additional mechanism to divest its stakes in state-run companies. In a crucial relief to the asset managers, the bid document said: “All the applicable taxes, cess and duties can be charged to the scheme, as per Sebi (Securites and Exchange Board of India) regulations and any other applicable guidelines.”
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Source: Business Standard
TOPIX index futures trading hits a record high today
March 5, 2013--As of today, the trading volume of TOPIX index futures reached a record high of 643,443 contracts.
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Source: Tokyo Stock Exchange (TSE)
Indicative NAV published for new ETFs through the FLEX standard service
March 5, 2013--Beginning April 15, 2013, Tokyo Stock Exchange, Inc. (TSE) will publish the real-time Indicative Net Asset Value (Indicative NAV) per share through the FLEX standard service for the
below Exchange Traded Funds (ETFs) listed on the Osaka Securities Exchange and Tokyo Stock Exchange.
1. Addition
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Source: Tokyo Stock Exchange (TSE)
SSE and CSI Dividend Return Index To be Launched
March 5, 2013---To further enhance the index family as well as to provide new analysis tools and underlying instruments for investors, SSE and CSI today announced that SSE Dividend Return Index and CSI Dividend Return Index to be launched on Mar 27, 2013.
Regarding the methodology and more details of the above indices, please refer to the official website of SSE (www.sse.com.cn) and CSI (www.csindex.com.cn).
Source: China Securities Index Co., Inc.
Real-time indicative NAV per share regarding 6 ETFs on OSE also distributed through TSE's FLEX Standard from April 15, 2013
March 5, 2013--From April 15, 2013 Osaka Securities Exchange Co., Ltd. (OSE) will shorten the interval of calculating and publishing the real-time indicative Net Asset Value per share from 15 seconds to 1 second, regarding 6 ETFs listed on OSE.
Also, Tokyo Stock Exchange, Inc. will start distributing it through FLEX Standard on the same day.
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Source: Osaka Securities Exchange (OSE)
EDHEC-Risk Institute Study Highlights the Inefficiency of Asian Stock Market Indices
Ia study entitled "Assessing the Quality of Asian Stock Market Indices," researchers at EDHEC-Risk Institute have reported results for 10 major Asian stock market indices over the past decade.
March 5, 2013--Among the key findings of the study:
All indices analysed display a pronounced lack of efficiency, in the sense of providing an efficient risk-reward trade-off: for all of them, an equal-weighted index constructed from the same components outperforms the corresponding cap-weighted market index.
The levels of inefficiency of Asian market indices were found to be quite comparable to those of European and US indices.
The standard Asian indices are heavily concentrated in a few large-cap stocks. Most indices allocate as much as 60% of the index weight to only one-fifth of the stocks in the universe. For investors who are interested in holding well-diversified equity portfolios, one can see these results as a motivation to explore whether more appropriate alternatives can be developed.
view the EDHEC report-Assessing the Quality of Asian Stock Market Indices
Source: EDHEC-Risk Institute
New ETF to be Listed on Mar.25, 2013 (Mon.)-Nikko Asset Management Co., Ltd. "Listed Index Fund Nikkei 225 (Mini)"
March 4, 2013--Today, Tokyo Stock Exchange, Inc. (TSE) approved the listing of a new ETF managed by "Nikko Asset Management Co., Ltd.". The ETF will be listed on Monday, March 25, 2013.
Code: 1578 (ISIN JP3047570001)
Name: Listed Index Fund Nikkei 225 (Mini)
Fund Administrator: Nikko Asset Management Co., Ltd.
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Source: Tokyo Stock Exchange (TSE)
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