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Yen Hits 20-month Low After Election
December 17, 2012-The yen dropped to a 20-month low against the U.S. dollar on Monday after Japan's Liberal Democratic Party won a landslide election victory that leaders promise will usher in aggressive monetary easing policies to weaken the currency.
Former prime minister Shinzo Abe returns to power with the LDP's victory. He campaigned on a platform to boost the moribund economy with hyper-easy monetary policy and big fiscal spending to beat deflation, a recipe for weakening the yen that gives Tokyo an export advantage in the international markets.
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Source: CNBC
DB-Synthetic Equity & Index Strategy-Asia-Asia-Pac ETF+ Monthly Directory-November 2012 ETPs
December 17, 2012--This document includes all Asia-Pacific listed exchange-traded funds (ETFs) and exchange-traded commodities (ETCs). The directory is organized by country and asset-class-related sub sections.
Within each sub section it has been sorted by ETP issuer by alphabetical order and by AUM in descending order. A number of key information points per product have been included in order to enable the reader to get an overview in their own area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US).
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Source: Deutsche Bank -Synthetic Equity & Index Strategy-Asia
DB-Synthetic Equity & Index Strategy-Asia-Pac Weekly ETF Market Review-ETP AUM up by 44% above last year closing
December 17, 2012--Market Review
Last week, all the major markets in the Asia-Pacific region remained in positive territory. Compared to the week before, from north to south:
Japan (Nikkei 225) +2.21%
Korea (KOSPI2) +2.23%
China (CSI 300) +4.86%
Hong Kong (HSI) +1.87%
Singapore (FSSTI) +1.97%
Australia (S&P/ASX 200) +0.69%
New Product Launch Review
There was no new ETP listing in the last week.
Turnover Review
Asia-Pacific ETP turnover totaled $9.7bn last week, 14% up from the previous week’s total. Hong Kong remains at the top of the turnover ranking with $3.4bn turnover, followed by South Korea ($2.6bn), China ($2.4bn), Japan ($0.8bn), and Taiwan ($0.3bn). Among Equity ETFs, the Emerging Country, Asia-Pacific Developed Country, Leveraged Strategy, and Short Strategy ETFs had total turnovers of $6bn, $1.4bn, $1.1bn, and $0.6bn respectively. Among the Commodity asset class, turnover in Gold ETPs totaled $90mn.
Assets under Management Review
Last week, Asia-Pacific ETP AUM increased by $4.1bn and ended at $131.8bn. On a year-to-date basis, Asia-Pacific ETP market is up by $40.3bn or 44% above last year’s closing.
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Source: Deutsche Bank -Synthetic Equity & Index Strategy --Asia
Adjustment List for SSE 180, SSE 50, SSE 380 and Other SSE Indices
December 17, 2012--The following adjustment will be effective on the first trading day in 2013.
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Source: China Securities Index Co.
BlackRock Appoints Julia Lee as Head of Hong Kong Retail
December 17, 2012--BlackRock, Inc. (NYSE: BLK) today announced that Julia Lee will join the firm as Director and Head of Retail Distribution in Hong Kong.
The appointment comes as BlackRock develops an integrated Asian retail team to lead investors and distributors through the changing investment landscape.
Reporting to Heather Pelant, Head of Retail and Private Bank Distribution for Hong Kong, Singapore and Southeast Asia, Ms Lee will be responsible for growing BlackRock’s Hong Kong retail distribution business, encompassing both mutual funds and ETFs. Ms Lee joins from ING Investment Management where she has been working as Head of Wholesale and Business Development in Hong Kong.
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Source: BlackRock
Harvest becomes first subsidiary of China asset manager to get QFII status
December 17, 2012--Harvest Global Investments has become the first subsidiary of a Chinese fund manager to be awarded QFII status from the China Securities Regulatory Commission (CSRC).
Harvest Global Investments was among nine international institutions to receive QFII licenses in November, alongside JP Morgan Asset Management Taiwan, AEGON USA Investment Management, CDH Investment Advisory Private, Skandinaviska Enskilda Banken AB, Greystone Managed Investments, Uni-President Assets Management Corporation, Daiwa SB Investments, and APS Asset Management, CSRC said on its website on December 13.
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Source: Asia Management Management
Australia is in a strong position, but must adapt to take full advantage of rising Asia, OECD says
December 14, 2012--The Australian economy is robust and faces a solid short-term outlook, but it must continue adapting to ensure that its privileged place in the Asia-Pacific region contributes to long-term sustainable growth, according to the OECD's latest Economic Survey of Australia.
The report, published today, recognises the strong performance of the Australian economy and its resilience to the global economic crisis. It notes, however, that activity has moderated with GDP expected to grow by about 3 ¾% in 2012 and by about 3% annually over the 2013-14 period.
“Australia’s long period of uninterrupted economic growth makes it the Iron Man among the OECD countries,” said OECD Secretary-General Angel Gurría said. “The rise of Asia has driven Australian natural resource exports and is providing enormous new opportunities for the agriculture, education and tourism sectors, but it has also imposed significant challenges and strains. The strong Australian dollar resulting from the mining boom is imposing considerable structural changes on the economy,” Mr. Gurría said.
view the Overview-Economic Survey of Australia 2012
Source: OECD
Safe breaks QFII record with $1bn quota to SWF
December 12, 2012--Qatar Investment Authority is awarded $1 billion in QFII quota, beating the previous high of $700 million,
as China’s foreign exchange regulator hands out $2.5 billion to 11 firms in its latest batch.
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Source: Asian Investor
Thailand's SET Index Closes Above 1,350 Points
December 12, 2012--The Stock Exchange of Thailand's (SET) main stock index (SET Index) closed up 13.24 points, or 0.99 percent, at 1,354.57 points today, a new high in the past 16 years and ten months since February 22, 1996, while other Asian main indices rose 0.5-0.8 percent.
SET President Charamporn Jotikasthira said the continued rise of the SET Index has been supported by domestic political stability and external factors, including the recent MSCI review which added four Thai stocks as components of MSCI Global Standard Indices and nine stocks in MSCI Small-Cap Indices, effective end-November. These factors have resulted in continuous net foreign buying since then. Moreover, the market mood has been cheered by improved economic indicators from Europe and the United States, easing global investors’ concerns about U.S. fiscal problems, as well as promoting hopes of more stimulus from the Federal Reserve.
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The deal by Hong Kong-based GCS, a low-key private equity firm, includes a distribution agreement with ICBC to offer European-managed fund products to Asian investors.
December 12, 2012-- GCS Capital, a little-known Hong Kong-based private equity firm, has agreed to purchase Dexia Asset Management (DAM) in a €380 million ($496 million) deal which includes a distribution agreement with Industrial and Commercial Bank of China (ICBC).
The share purchase agreement, announced yesterday, includes the full scope of business of Dexia bank’s asset management arm, which has about €80 billion in AUM and 550 staff globally. Reported estimates for the value of DAM have been cited as high as €500 million.
Source: Asian Investor
