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SSE Strengthens Supervision over Securities Issuance, Listing
November 12, 2010-The Shanghai Stock Exchange (SSE) has recently published the "Guidelines for Issuing and Listing Securities" to strengthen its supervision over securities issuance and listing. The "Guidelines", constraining the behaviors of securities issuance participants including issuers, sponsors, underwriters and price inquiry institutions, aim to improve the efficiency and transparency of pricing in the process of securities issuance by urging all participants to fulfill their duties.
The "Guidelines" requires sponsors and lead underwriters to be adequately staffed and establish relevant internal management systems to improve the quality of securities issuance and listing, while defining the regulatory and punishment measures against violations of issuers, sponsors, lead underwriters, price inquiry institutions and investors. Two new systems are the highlights of the "Guidelines".
I. "Guidelines": a significant supplementary measure for reform of IPO system
According to an official from the SSE, the "Guidelines" further perfect the existing IPO system from a micro and basic level while carrying on the requirements of the China Securities Regulatory Commission for the reform of IPO system.
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Source: Shanghai Stock Exchange
Two firms on Thai bourse added to MSCI Index
November 12, 2010--"Two companies listed on The Stock Exchange of Thailand (SET) have been added to MSCI Index-- Indorama Ventures PCL (IVL) and Thai Airways International PCL (THAI). The changes will be effective on November 30, 2010," revealed SET President Charamporn Jotikasthira.
The MSCI Index is an underlying index provided for global institutional
investors as a benchmark on investment returns. When adding any given country to the Index, MSCI does not include all of that country's listed firms in the
Index, but only those which pass MSCI's standards.
"Both IVL and THAI are in the SET50 Index, with high liquidity and trading values. They also receive great attention from local and foreign investors, particularly IVL, which has just listed on the SET this year, with a market capitalization (based on its IPO price) of THB44.00 billion (approx. USD1.47 billion). As of November 10, 2010, IVL's market capitalization was at THB182.04 billion (approx. USD6.67 billion). It is a pleasure to congratulate these two firms, which help show that SET-listed firms and the exchange itself have strong fundamentals and promising growth potential," concluded Mr. Charamporn.
Source: Stock Exchange of Thailand (SET)
Deutsche Bank goes live with Sponsored Access on NASDAQ OMX Nordic
November 11, 2010--NASDAQ OMX (NASDAQ:NDAQ) announces that Deutsche Bank will start offering low latency Sponsored Access to the NASDAQ OMX Nordic exchanges in Stockholm, Helsinki, Copenhagen and Iceland using NASDAQ OMX Nordic's newly enhanced Pre-Trade Risk Management service.
Sponsored Access enables members to provide their clients with direct connectivity to NASDAQ OMX Nordic's ultra low latency matching services, offering cost savings to both clients and members as they avoid the cost of integrating and connecting the client's order flow to the member's system.
Deutsche Bank is the first member to take advantage of NASDAQ OMX Nordic's recently enhanced Pre-Trade Risk Management service which, through offering sophisticated pre-trade risk layer and administration interface, mitigates market risk by monitoring all orders submitted to the NASDAQ OMX Nordic exchanges.
"We are delighted to be working with Deutsche Bank in providing their clients with access to NASDAQ OMX Nordic exchanges. Following the launch of our state-of-the art INET trading system and the release of our enhanced Pre-Trade Risk Management tool we see a strong interest for sponsored access. A key benefit of our sponsored access offering is the ultra low latency available via our co-location services", said Bjørn Sibbern, Senior Vice President NASDAQ OMX Transaction Services Nordic.
Source: NASDAQ OMX
SSE Free Float, CSI EW 90, 300 SSE to Be Launched on Dec. 2
November 11, 2010--The Shanghai Stock Exchange (SSE) and China Securities Index Co., Ltd. (CSI) have recently announced that SSE Free Float Index (SSE Free Float), CSI Equal Weight 90 Index (CSI EW 90) and CSI 300 SSE Stocks Index (300 SSE) would be officially introduced on December 2, 2010.
The constituents of SSE Free Float consist of all A shares listed on the SSE excluding those whose issuers haven't completed equity division reform and which are imposed with listing suspension. SSE Free Float, calculated by way of weighted method based on free float adjusted market capitalization, reflects the price fluctuation of free float shares listed on the SSE and is a new investment research and analysis instrument for investors.
The constituents of CSI EW 90, calculated by way of weighted method with equal weight, are comprised of 50 constituents of SSE 50 Index and 40 constituents of SZSE Component Index. By November 8, 2010, the market capitalization and free float market capitalization of CSI EW 90 had reached RMB12.97 trillion and RMB3.72 trillion, respectively, accounting for 45.48% and 35.33% of that of all A shares listed on the SSE, respectively.
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Source: Shanghai Stock Exchange
SSE Free Float Index , CSI Equal Weight 90 Index and CSI 300 SSE Stocks Index To Be Launched
November 11, 2010--To further enhance SSE and CSI Index families as well as to provide investors with the new underlying instrument, SSE and CSI together announced today that SSE Free Float Index, CSI Equal Weight 90 Index and CSI 300 SSE Stosks index will be launched on Dec 2th 2010.
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Source: Shanghai Stock Exchange
Trading Volume of KOSPI 200 Options set Record High
November 11, 2010--Trading volume of KOSPI 200 Options was 39,324,648 contracts on November 11, 2010, surpassing the previous record of 37,284,508 contracts set on June 10, 2010. Trading value reached up to KRW 2.1 trillion, which ranks eighth this year.
Surge of trading volume of KOSPI 200 Options was attributed to increased volatility of the index which attracted investors who looked for short-term profits by trading contracts whose exercise price were around at-the-money.
46 percent of the investors who lead the increase of volume were institutional investors such as securities and futures companies.
Source: KRX Korea Exchange
FTSE and SET Launch New Industry Indices for Thailand
November 11, 2010--Emerging markets are attracting increased investor interest globally and it is therefore important that the appropriate tools are in place for investors to analyse and access these markets efficiently and transparently. FTSE Group and the Stock Exchange of Thailand (SET) have launched an enhanced set of index tools to facilitate deeper analysis of the investable Thai market by adding Industry, Supersector and Sector indices to the FTSE SET Index Series.
The FTSE SET Industries Indices are based on the Industry Classification Benchmark (ICB), a comprehensive, transparent and definitive classification system recognised as the standard by investors globally. The ICB classification structure allows for a deeper understanding of market drivers and facilitates cross-border analysis so you can make like-for-like comparisons of specific industries and sectors between Thailand and other markets.
FTSE SET All-Share Industry Indices include 10 Industry, 19 Supersector and 39 Sector indices for you to gain a deeper understanding of which sectors are driving Thailand’s market performance. The indices can also be to create sector-specific funds and index-linked products.
Subscribers of the FTSE SET Index Series will enjoy extra benefits with the new indices being added to the existing data package.
For data and product licensing enquiries, please contact your local FTSE office, email us, or find out more information at www.ftse.com/thailand.
Source: FTSE
DB Global Equity Index & ETF Research : Asia Pacific ETP Market Weekly Review
November 10, 2010--Market Overview
There are 243 equity based ETFs in the Asia Pacific region with 336 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 38.77% of the whole market, whilst China has the largest market share by turnover with 40.42%.
There was one new listing last week. Gold knows no borders, Sensible Asset Management Hong Kong listed the first Asia-domiciled commodity ETF tracking gold on the Hong Kong Stock Exchange.
Turnover
Monthly average daily turnover rose 6.8% in the last week. Turnover for the previous week was USD 1,574m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 327m accounting for 20.8% of total turnover.
Assets Under Management
AUM rose 3.7% in the previous week. AUM as of November 5 was USD 78.7bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 9.4bn.
To request a copy of the report
Source: Deutsche Bank Global Equity Index & ETF Research
China raises bank reserves as cash inflows surge
November 10, 2010-- China on Wednesday ordered its banks to put more money aside as required reserves, a tightening step that mops up some of the cash that has been streaming into the country and posing a growing inflationary threat.
Although Chinese officials have directed their ire at U.S. monetary easing as a cause of unwanted speculative inflows, data earlier in the day provided a reminder that a whopping trade surplus is the main source of Beijing's liquidity headache.
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Source: Reuters
HKEx Strategy in Enhancing Global Competitiveness
November 9, 2010-Presentation to Citi Securities Market Infrastructure Conference
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Source: HKEx
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