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H-Share ETF Announced for Shanghai Stock Market
January 21, 2010--The Shanghai Stock Exchange announced plans dated for later this year to open China's first exchange-traded fund. The fund, the latest prong in China’s plan to expand domestic investors participation in global markets, will monitor international stock indexes
The bourse is working toward creating an ETF that tracks H-share companies, which are Chinese-incorporated firms listed on the Hong Kong exchange.
Shanghai Stock Exchange President Zhang Yujun is collaborating with the Hong Kong Exchange on the ETF. They are currently in the process of determining its precise size and launch date.
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Source: Equities Magazine
China tells banks to halt lending
January 20, 2010--Chinese regulators have told some banks temporarily to halt lending amid growing fears of asset bubbles and inflation.
The renewed efforts to rein in credit growth after a burst of frantic lending activity by Chinese banks that have raised concerns about overheating in the Chinese economy.
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Source: FT.com
Chartwell launches emerging markets ex China fund
January 20, 2010--ETF and emerging markets specialist Chartwell Partners has launched an emerging markets investment product that excludes China and Vietnam.
The Chartwell Emerging Markets Free Ex China portfolio includes 15 countries from the MSCI Emerging Market index.
As proxies for each market, country-specific exchange-traded funds are used with all countries equally weighted.
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Source: ETF Express
HKEx to Introduce Flexible Index Options on 8 February
January 19, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) plans to introduce Flexible Index Options (FIOs) on 8 February this year to expand the coverage of over-the-counter (OTC) contracts by its derivatives market's block trade facility (BTF).
FIOs comprise Hang Seng Index (HSI) and H-shares Index (HHI) options contracts with customised strike prices and expiry months which must be executed through the BTF. Each series will be created by HKEx upon the request of an Exchange Participant. The flexibility is offered under the following framework:
Strike prices* can be any whole index points within +/-30 per cent from the opening price of the spot month futures contract on the day of request or the range of the prevailing highest and lowest strike prices available in the contract month requested and all other existing contract months with longer expiry terms, whichever range is the largest; and
Expiry day is the second to last trading day of any calendar month and the expiry month* can be any calendar month, provided it is not further out than the most distant existing expiry month available for trading.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx
Seven New Indices to be Launched
January 19, 2010--The Shanghai Stock Exchange (SSE) and China Securities Index Co., Ltd. (CSI) have recently announced that a series of new indices would be officially launched on February 9, 2010, namely SSE Industry Top Index (SSE Industry Top), CSI Industry Top Index (CSI Industry Top), CSI Local State-owned Enterprises Composite Index (CSI L SOEs), CSI Local State-owned Enterprises 100 Index (CSI L SOEs 100), CSI State-owned Enterprises Composite Index (CSI SOEs), CSI State-owned Enterprises 200 Index (CSI SOEs 200) and CSI Galaxy 99 Index (Galaxy 99).
It is learnt that both SSE Industry Top and CSI Industry Top constituents are selected from stocks of companies with large market capitalization and outstanding business income and profit performances in the industries. These firms, typical of blue chips, win themselves a name of "top enterprise" for their large scale, big market share and great influence on the development trend and ebb and flow of the industry as a whole. According to the latest statistics, the market capitalizations of SSE Industry Top and CSI Industry Top are RMB8.95 trillion and RMB10.22 trillion, or 49.02% of that of A shares on the SSE and 42.45% of that of A shares on both the SSE and the Shenzhen Stock Exchange (SZSE), respectively. Some fund companies have been reported to commit themselves to the development of ETF products of SSE Industry Top.
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Source: Shanghai Stock Exchange (SSE)
Asset Plus launches fund for investment in HK
January 18, 2010--Asset Plus Fund Management has launched the initial public offering of Asset Plus HSI Fund, to draw investment to Hang Seng Index exchange-traded funds.
The investible funds are listed in the Hong Kong Stock Exchange, and guarantees transparency. The investment is in the form of Hong Kong dollar, which moves in relation to US dollar.
Source: The Nation
Citic seeks investors for China Asset Management
January 18, 2010--Citic Securities, China’s biggest listed securities brokerage, is actively searching for investors, including foreign financial institutions, to buy part of its stake in China Asset Management Co, the country’s largest fund manager by assets, according to people familiar with the matter.
Citic has owned 100 per cent of China AMC since 2007, despite regulations that forbid single shareholders in fund management companies from owning more than 49 per cent.
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Source: FT.com
CNMEX to introduce cross-asset class Exchange Traded Fund market maker rebate program
Jnauary 18, 2010--“This incentive program is designed to remove hedging friction for options Market Makers and to attract further trading activities and listing opportunities on China Mercantile Exchange, said Liu Wong Huiliang, Deputy Press Officer for China Mercantile Exchange.
Under the rebate program, each options contract traded by the designated Market Maker on China Mercantile Exchange will generate a per-share credit to offset trading activities.
“The development of this new cross-asset class subsidization of options market making activities further supports CNMEX’s efforts to encourage growth in the derivatives sector, and to develop an integrated cash and derivatives trading business,” said Huiliang.
Source: China Mercantile Exchange (CNMEX)
India suspends SocGen from trading
January 15, 2010--Société Générale was on Friday threatened with expulsion from the Indian equities market for allegedly violating “know your client” rules that compel companies to provide complete information on overseas customers.
The Securities and Exchange Board of India, the market regulator, alleged SocGen had provided incomplete information on overseas clients that had bought shares of Reliance Communications, controlled by Indian billionaire Anil Ambani, through offshore derivatives known as participatory notes.
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Source: FT.com
DB Index Research -- Weekly ETF Reports - Asia-Pacific
January 14, 2010--Highlights
Market Overview
There are 199 equity based ETFs in the Asia Pacific region with 258 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 41.02% of the whole market, whilst China has the largest market share by turnover with 52.42%.
There was one new listing in the last week. Guotai Asset Management listed one new Equity ETF in Shenzhen Stock Exchange
Turnover
Monthly average daily turnover declined 24.9% in the last week. Turnover for the previous week was USD 889m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 288m accounting for 32.4% of total turnover.
Assets Under Management
AUM rose 4% in the previous week. AUM as of Jan 11th were USD 62.8bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 6.2bn.
To request a copy of the report
Source: Source: Aram Flores and Shan Lan -DB Index Research
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