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New Zealand -Government releases draft securities bill
August 11, 2011--Commerce Minister Simon Power today released the draft version of a bill that stems from the comprehensive review of securities law.
"I'm releasing this bill in draft form to ensure that decisions from this once-in-a-generation opportunity to re-write our securities law are enduring for years to come," Mr Power said.
The new legislation will play a crucial role in restoring confidence in our financial markets by providing better protections for mum and dad investors, and clearer rules for companies looking to raise capital.
"The draft bill takes into account the work of the Capital Market Development Taskforce, the effects of the global financial crisis, and the failure of finance companies, and aims to be a one-stop shop for securities law."
The Financial Markets (Conduct) Bill reflects Cabinet decisions announced in March and June of this year, which include:
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Source: Yahoo News NZ
China urges action on EU and US debt, to keep yuan policy
August 11, 2011--China is worried about challenges that the European Union faces in the next two months and urged the bloc as well as the United States to hold down government debt, its trade minister said on Friday.
Speaking at a meeting of Southeast Asian trade ministers, Chen Deming called on governments in the United States and Europe, China's top two trading partners, to act responsibly and get their fiscal houses in order. "We support stabilizing measures taken by relevant countries, but we hope these countries will take measures to control their government debt proportion and take bigger responsibilities," Chen said. "We are also concerned about new challenges facing European countries in August and September," he said, but did not elaborate.
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Source: Today's Zaman
Renminbi’s rise fuels talk of China policy shift
August 11, 2011--A sharp appreciation in the renminbi against the dollar in recent days – at a time when most other emerging market currencies have been falling – has prompted traders to ask whether Beijing has adopted an aggressive new stance on its currency.
Over the past four days the renminbi strengthened 0.7 per cent against the dollar – a small move by the standards of most currencies but a large one for the Chinese currency, which is tightly controlled by the government.
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Source: FT.com
China inflation rises to 6.5% in July
August 9, 2011--Chinese inflation accelerated in July as consumer prices rose 6.5 per cent from a year earlier, up from 6.4 per cent in June and the fastest increase since June 2008.
The price rise was driven mostly by volatile and politically sensitive food prices, which soared 14.8 per cent in July from a year earlier, up from a 14.4 per cent annual increase in June, according to data released by China’s National Bureau of Statistics on Tuesday.
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Source: FT.com
Asia stock sell-off deepens
August 9, 2011--Fear gripped Asian markets following a rout in the United States stock market overnight, sending equities and currencies tumbling as investors grew increasingly pessimistic about the outlook for the global economy.
The FTSE All World Asia Pacific excluding Japan index was down 5.2 per cent by mid-morning in Hong Kong, entering bear market territory having now dropped more than 20 per cent since its peak in May.
The Hang Seng was the biggest decliner among Asia's top stock indices, down 7.2 per cent - taking its lead from the sharpest fall in US stocks since the panic that followed the Lehman collapse in 2008.
Mr Kevin Lee, head of Korea at Newedge, said: "When the fear in 2008 was a degree of 10, we feel now it is 8. It is a major tumble."
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Source: Today Online
Australian stocks in stunning turnaround
August 9, 2011--Australian stocks staged a stunning turnaround on Tuesday, bouncing back from a more than 5.5% slump to end in the black on hopes the US Federal Reserve may outline plans for a new stimulus package.
The market plunged sharply at the open in reaction to carnage in New York and Europe linked to the US debt downgrade by Standard & Poor's, and continued to fall as fear took hold, hitting new two-year lows.
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Source: FIN24
TOCOM Gold Price Hit Record High Since Its Launch
August 9, 2011--Tokyo Commodity Exchange, Inc, announced that its June 2012 Gold futures contract (back contract month) temporarily reached 4,399 yen/gram during today's session. This is the highest price seen since the listing of gold futures contract at TOCOM on March 23, 1982.
On August 9, trading volume of Gold futures (standard) totaled 144,475 contracts, including 113,047 contracts traded for June 2012 contract.
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Source: Tokyo Commodity Exchange (TOCOM)
Launch of first gold bullion MINI on ASX
August 8, 201-- BetaShares today announced the launch of a leveraged trading tool on the BetaShares Gold Bullion ETF (A$ Hedged).
The Macquarie QAU Mini Long (ASX Code: QAUKMA) allows investors to access leveraged exposure to gold without margin calls. For a fraction of the outlay of buying the ETF outright, investors can now access pure gold bullion exposure that is unaffected by currency movements, leveraged at 65% at inception.
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Source: BetaShares
DB - Equity Research - Asia Pacific ETF Weekly Review: $5bn washed away from ETP AUM on market downturn
August 8, 2011--Market Review
Asia-Pacific market tumbled last week on the concerns over weakening global economic recovery. From north to south, Japan (Nikkei 225) dropped by 5.42%, Korea (KOSPI2) sank by 9.1%, China (CSI 300) decreased by 2.51%, Hong Kong (HSI) lost 6.66%, Singapore (FSSTI) declined by 6.10% and Australia (S&P/ASX 200) plunged by 7.21%.
New Launch Review
In terms of new product launch activity, the Asia-Pacific market remained quiet in the last week and no new product was listed in any of the exchanges in the region.
Turnover Review: Floor activity soars
Declining markets triggered a sell-off in the last week and turnover activity was up by 73.1% on a week-over-week basis totaling $8bn as equity market volatility continued to trend higher. South Korea topped the turnover ranking with a record $3.1bn (up 135.8%) followed by Hong Kong ($2bn, up 68.8%), Japan ($1.2bn, up 84.8%), China ($809m, down 13.4%), and Taiwan ($454.9m, up 176.4%). Among Equity ETPs, Emerging Country and Asia Pac Developed Country ETPs experienced $1.3bn (62.4%) and $994m (100%) rise in turnover over the previous week. On the Commodities section Gold ETPs activity also increased by 45.4% totaling $230m for the last week.
Assets Under Management Review
Amid sinking global markets, Asia-Pacific ETP AUM lost $5bn and ended at $90.3bn last week. However, on a year to date basis, Asia-Pacific ETF market is still $6.1bn or 7.3% above last year's closing.
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Source: Deutsche Bank - Equity Research - Asia
Republic of Korea: Selected Issues
August 4, 2011--I. FORMALIZING FINANCIAL STABILITY CONSIDERATIONS IN THE CONDUCT OF MONETARY
POLICY IN KOREA
The recent global financial crisis has exposed the limitations of a conventional inflation
targeting (IT) framework in insulating an economy from all shocks it may face, and demonstrated that its rigid application may aggravate the effect of shocks on output and
inflation.
Accordingly, we investigate possible refinements to the inflation targeting framework in Korea by taking into account developments in the financial sector. The findings indicate that
incorporating financial stability considerations can help smooth business cycle fluctuations, by mitigating the buildup of factors that lead to subsequently large fluctuations in output and inflation.
A. Introduction
1. The recent global financial crisis has demonstrated that strong underlying economic fundamentals cannot insulate an economy from all possible shocks. The crisis, while originating in the subprime segment of the U.S. mortgage market, quickly spread through financial and real channels, and severely affected many economies, even those that did not have any major exposures to the assets at the heart of the crisis. Korea’s economy too was hit hard by the global financial crisis due to the sudden drying up of liquidity and the collapse of global trade despite having strong macroeconomic fundamentals before the outbreak of the crisis.
view th Republic of Korea: Selected Issues IMF paper
Source: IMF
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