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Ex-Deutsche team sets up Asian debt venture
October 7, 2009--A team of distressed debt traders who resigned from Deutsche Bank earlier this year have set up their own boutique investment bank in Hong Kong.
SC Lowy, which opened on Thursday, will deal exclusively in distressed and illiquid investments across Asia, an asset class that has become increasingly fashionable among banks and hedge funds since the financial crisis struck.
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Source: FT.com
FMC divided over allowing gold ETF trading on SEs
October 6, 2009-It is the most hassle-free route for retail investors to take an exposure to the yellow metal. But just as the gold exchange-traded funds (ETFs) Gold ETFs: Safer bet in crisis
Gold brings stability to portfolio
Investing in gold a safe bet
Gold: A safe option
were gaining in popularity, a tricky question has risen as to who should be regulating them, and whether gold ETFs should be allowed to be traded on the stock exchanges, as they are being now.
According to people familiar with the development, the consumer affairs ministry has posed this question to the law ministry, since the underlying for gold ETFs is a commodity, and should logically fall under the purview of the forward markets commission (FMC).
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Source: Economic Times
Asian institutions sticking with portfolio strategies
October 5, 2009--Asian institutions are joining their peers in other markets by refraining from making wholesale changes to their portfolio investment strategies in the wake of the global financial crisis.
However, the results of Greenwich Associates' 2009 Asian Investment Management Study reveal that institutions across Asia (excluding Japan) are reconsidering plans to outsource more of their assets to external investment managers after a year in which many managers fell far short of performance expectations.
Among Asian institutions, average fixed income allocations increased to 68.6 per cent of total assets in 2009 from 62.5 per cent in 2008
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Source: ETF Express
TSE launches New Options System “Tdex+ System”
October 5, 2009--Tokyo Stock Exchange, Inc. (“TSE”) is pleased to announce today the
successful launch of “Tdex+ System”, a new trading platform for options
contracts. Tdex+ System, is the advanced electronic trading system based on
LIFFE CONNECT®, which has been used by NYSE Liffe, the largest European
derivatives exchange by trading value, and is highly rated for its
performance and functionality by investors worldwide. With the introduction
of Tdex+ System, order processing performance is dramatically improved to 6
milliseconds of order response* and about 20 thousand transactions per
second. Functionality for strategy trades is enhanced as well.
In addition to this, TSE also introduced the Market Maker scheme for all
listed options contracts today. Multiple market makers started to quote bid
and offer continuously for not only Options on JGB Futures, which have
already high liquidity, but also TOPIX Options and Equity Options.
Source: NYSE EURONEXT
HKEx Publishes Consultation Conclusions On Proposed Changes To Filing And Checklist Requirements For Listing Of Equity Securities
October 2, 2009--Hong Kong Exchanges and Clearing Limited (HKEx) today (Friday) published its Consultation Conclusions on Proposed Changes to Filing and Checklist Requirements for Listing of Equity Securities (Consultation Conclusions).
On 26 June this year, HKEx published a consultation paper on proposals to streamline the listing process for initial public offerings and for listing of equity securities by listed issuers.
HKEx received a total of 25 submissions. Overall market feedback indicated full support for the proposals.
"We are encouraged by the broad support. We believe that the streamlined listing process will shorten preparation time, lower costs and reduce the paperwork burden. This has been achieved without making any substantive changes in content requirements," said Mark Dickens, HKEx's Head of Listing.
"We will continue our efforts to further improve our listing process without compromising market quality," Mr Dickens added.
The Consultation Conclusions can be downloaded from the "Market Consultation - Consultation Conclusions" section of the HKEx website.
Amendments to the Listing Rules can be downloaded from the "Regulatory Framework and Rules - Rules and Guidelines on Listing Matters - Listing Rule Update for Main Board Listing Rules" and the "Regulatory Framework and Rules - Rules and Guidelines on Listing Matters - Listing Rule Update/Interpretation for GEM Listing Rules" sections of the HKEx website.
The Listing Rule amendments will become effective on 2 November 2009.
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
China's Economy May Eclipse Japan's As Soon As 2010
October 2, 2009--For years, Japan has been readying itself for the day that it is eclipsed economically by China. But as a result of the global slowdown, Japan’s difficulty in managing its economy and China’s rise — on vivid display Thursday as Beijing celebrated the 60th anniversary of the founding of the People’s Republic — that day may come sooner than anyone predicted.
Though recent wild currency swings could delay the reckoning, many economists expect Japan to cede its rank as the world’s second-largest economy sometime next year, as much as five years earlier than previously forecast.
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Source: NY Times.com
Australia imposes tough short ... DB Index Research -- Weekly ETF Reports -- Asia-Pacific
There were no new listings in the last week.
Assets Under Management To request a copy of the report click here CIC buys stake in Kazakh oil and gas group-3rd Global Investment in natural resourse read full story
ICBC plans to buy Thai bank ACL read full story If you are looking for a particuliar article and can not find it, please feel free to contact us for assistace.
October 2, 2009-Australia announced plans on Friday for some of the strictest short sellingdisclosure rules in the world, which were welcomed cautiously by a hedge fund industry that had feared even tougher changes.
Australia will demand from April that short sales positions be disclosed to the Australian Securities and Investments Commission, the corporate regulator, within one day of trading (T+1) and made public within four days.
Source: FT.Com
September 30, 2009-Highlights
Market Overview
There are 184 equity based ETFs in the Asia Pacific region with 240 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 42.85% of the whole market, whilst China has the largest market share by turnover with 49.35%.
Turnover
Monthly average daily turnover declined 4.6% in the last week. Turnover for the previous week was USD 1224m. The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 340m accounting for 27.8% of total turnover.
AUM declined 1.4% in the previous week. AUM as of Sep 28th were USD 58.8bn. The largest ETF by AUM is the TOPIX ETF, managed by Nomura Asset Management, with AUM of USD 6.6bn.
Source:Source: Aram Flores and Shan Lan -DB Index Research
September 30, 2009--China Investment Corp, the country’s sovereign wealth fund, has bought an 11 per cent stake in London-listed JSC KazMunaiGas Exploration Production, marking its third global investment in natural resources assets in just one week.
CIC said it paid $939m to buy London-traded Global Depositary Receipts in the Kazakhstan-based oil and gas company, marking a further advance by China into the hotly contested central Asian energy sector.
Source: FT.com
September 30, 2009--Industrial and Commercial Bank of China, the world’s largest bank by market value, plans to take a controlling stake in Thailand’s ACL Bank in the first tentative foray abroad by a Chinese financial institution since the onset of the global financial crisis.
ICBC has agreed to pay Bangkok Bank Bt3.55bn ($106m) for its 19.26 per cent stake in ACL, a 15 per cent premium to Tuesday’s closing price, in a deal that values the whole bank at Bt18.29bn.
Source: FT.com
