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State Street's role as manager of Hong Kong's largest ETF under scrutiny
May 25, 2021--US manager's future could rest on whether Biden decides to maintain a blacklist on investing in certain Chinese companies
Hong Kong's central bank is working with the supervisory board of the Tracker Fund to review State Street Global Advisors' role as manager of the territory's largest exchange traded fund in the territory.
There have been high-level discussions on replacing the manager since it flip-flopped earlier this year on whether to implement the Trump administration's investment bans on companies linked to the Chinese military.
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Source: FT.com
Shanghai and South Korean exchanges agree to crosslist ETFs
May 21, 2021--The Shanghai and South Korean stock exchanges have agreed to establish an exchange-traded fund link that allows ETF providers to sell their products directly to investors in other markets.
Kai Jang-chun, general manager of the Shanghai Stock Exchange, and Song Byung-du, chairman and chief executive officer of the Korea Exchange, signed a memorandum of understanding last week via a video link.
"The demand for foreign investment has facilitated close cooperation between the capital market industries of China and South Korea," said the Shanghai Stock Exchange. Said At the announcement.
KRX's Son said future cooperation in areas such as ETF crosslisting and joint index development will allow investors to increase access to the capital markets of both countries.
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Source: FT.com
Will Modi's push for economic self-reliance succeed?
May 20, 2021--In its recovery, India will wish to consolidate market access for its export of services to rich countries and make the country's growing market most attractive to the latest technology.
India has pursued two linked objectives since its independence and partition in 1947: to restore the country's standing as one of the world's major economies and to preserve geopolitical freedom of action, or 'strategic autonomy'. Economic strength is both an end in itself - to lift millions out of deep poverty -and indispensable for maintaining diplomatic freedom of action.
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Source: bruegel.org
Bitcoin falls sharply after China signals crypto crackdown
May 19, 2021--Bitcoin has fallen 14% to its lowest level since early February after Chinese regulators stepped up efforts to crack down on the use of cryptocurrencies by financial institutions.
In a joint statement issued by the People's Bank of China's WeChat account, banks and Internet industry groups said that financial and settlement institutions would not accept cryptocurrencies as payments or provide services or products related to them. I said it wouldn't be.
In a statement released late Tuesday, the group said cryptocurrencies were "not real currencies" and "should not be used as currencies in the market and should not be used". Recent price hike As "speculation".
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Source: californianewstimes.com
TIGER US Tech Top 10 INDXX ETF crosses $100 mn in assets within a month of launch
May 19, 2021--Indxx is very excited to announce that the TIGER US Tech Top 10 INDXX ETF (Ticker: 381170 KS Equity), which tracks the Indxx US Tech Top 10 Index, surpassed the $100 million in assets under management milestone on May 12, 2021. The fund started trading on the Korean Stock Exchange on April 09, 2021.
Rahul Sen Sharma, Managing Partner at Indxx, said, "We are extremely delighted at the record growth and success of the TIGER US Tech Top 10 INDXX ETF. The targeted exposure to the largest technology companies has proven to be a promising strategy for Korean investors. It is exciting to witness the record pace at which the fund continues to grow. We extend our congratulations to our friends at Mirae Asset Global Investments on this achievement and look forward to celebrating more such milestones in the future."
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Source: Indxx
BetaShares Australian ETF Review-April 2021-APRIL 2021: INDUSTRY POWERS AHEAD INTO Q2
May 19, 2021--After breaking the $100B assets under management milestone in March, the Australian ETF industry has powered ahead in April, assisted by the 'triple threat': 1) strong sharemarket gains 2) higher than average net flows, and 3) another large unlisted fund conversion on Chi-X.
Market cap
ASX Exchange Traded Product market cap: $108.8B1-all time end-of-month high
Market cap change for month: 5.8%, $5.9B
Market cap growth for the last 12 months: 78%, + $47.5B -fastest yearly growth ($ terms) on record
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Source: betashares.com.au
Trading in Taiwan inverse ETF surged as stock market plunged
May 19, 2021--The Yuanta/P-shares Taiwan Top 50 inverse fund was the most traded security during May 12 turmoil
As the Taiwanese stock market suffered the worst one-day drop last week, one inverse exchange traded fund recorded its highest trading volume and became the most traded security on the exchange.
Taiex, the weighted index for stocks listed on the Taiwan Stock Exchange, fell 8.55 per cent on May 12, the worst intraday decline since it was launched in 1969.
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Source: FT.com
Japan's economy slumps back into decline as COVID-19 hits spending
May 18, 2021--Japan's economy shrank more than expected in the first quarter as a slow vaccine rollout and new COVID-19 infections hit spending on items such as dining out and clothes, raising concerns the country will lag others emerging from the pandemic.
Capital expenditure also fell unexpectedly and export growth slowed sharply, a sign the world's third-largest economy is struggling for drivers to pull it out of the doldrums.
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Source: reuters.com
BlackRock Wins Approval for China Wealth Management JV
May 14, 2021--BlackRock will own 50.1 percent of the joint venture, while China Construction Bank will own 40 percent.
China Banking and Insurance Regulatory Commission (CBIRC) has awarded BlackRock a license for its wealth management joint venture in China with Singapore sovereign investor Temasek and state-owned financial giant China Construction Bank, the U.S. fund house said on Wednesday.
"The Chinese market represents a significant opportunity to help meet the long-term goals of investors in China and internationally" Larry Fink, BlackRock chairman and CEO, said in a statement.
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Source: finews.asia
BlackRock fee cut portends new Hong Kong ETF price skirmish
April 28, 2021--Management charges on the iShares FTSE A50 China ETF have been slashed from 0.99% to 0.35%
BlackRock's decision to slash fees on its flagship China A-share exchange-traded fund in Hong Kong, suggests the market is becoming more competitive and could spark a price war, some industry participants say.
BlackRock announced last month that the management fee on its Hong Kong-listed iShares FTSE A50 China ETF would be reduced by more than half to 0.35 per cent from 0.99 per cent per annum, effective on March 22.
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Source: ftchinese.com
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