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CIC buys stake in Kazakh oil and gas group-3rd Global Investment in natural resourse
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.
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Source: FT.com
ICBC plans to buy Thai bank ACL
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.
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Source: FT.com
Nomura tumbles on concern over $5.6bn issue
September 25, 2009--Nomura on Friday suffered the biggest daily fall in its share price in more than 30 years, reflecting investor anxiety over the large dilution that would result from its forthcoming Y511bn ($5.6bn) new share issue.
Japan’s biggest securities group saw its shares tumble 16 per cent to Y573 .
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Source: FT.com
South Korea Promoted To Developed Country Status In The FTSE Global Equity Index Series
September 24, 2009--South Korea has been promoted from “Advanced Emerging” status to “Developed” in the FTSE Global Equity Index Series from September 21. Since its first listing on the FTSE Watch List in September 2004, KRX has worked with the relevant regulators and market participants to remove major regulatory restraints, such as permitting free delivery between securities accounts, expanding the grounds allowing off-exchange trades, and minimizing FX regulations for foreign investors. These improvements have allowed the Korean Market to be more aligned with global regulatory standards and practices, and in turn, has boosted international investors’ confidence in the Korea’s capital market.
As a result of the FTSE decision, the 107 stocks listed in the local market under the FTSE Advanced Emerging Equity Index will be added in the FTSE Advanced Equity Index until the next FTSE committees review.
Source: Online News
BlackRock: China Leading The Way In Commodities Demand – Will The US Pick Up The Baton?
September 24, 2009-BlackRock’s Catherine Raw, fund manager in the natural resources team, believes that commodities are set to make further progress as investors become more confident that the majority of the world economic crisis has passed. While mining equities having rallied in 2009 (up 61% in US dollar terms) valuations are still attractive, being around half what they were in May 2008.
Catherine Raw said: “We expect China to continue to have a significant influence over demand for commodities, given the commodity–intensive stimulus package from the Chinese government and their future growth plans. The nature of China’s command economy has meant that this stimulus has filtered down into the real economy, unlike in the US - so far. In China, government-driven lending has spurred activity. Economic data coming out of China this year has suggested that, despite the global recession, the economy has started to recover and high levels of economic growth may continue in the region, a bullish signal for the mining sector. GDP and industrial production growth rates appear to have bottomed; car sales and retail sales are showing signs of improvement and there has been a strong pick up in fixed asset investment. Steel production has recovered significantly and on an annualized basis is now ahead of 2008”.
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Source: Mondovisione
DB Index Research -- Weekly ETF Reports -- Asia-Pacific
September 23, 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 42.36% of the whole market, whilst China has the largest market share by turnover with 50.11%.
There was one new lisitng in the last week. Samsung Investment Trust Mg launched one new ETF on the Korea Stock Exchange.
Turnover
Monthly average daily turnover declined 10.4% in the last week. Turnover for the previous week was USD 1282m.
The largest ETF by turnover was the China 50 ETF issued by China Asset Management with USD 364m accounting for 28.4% of total turnover.
Assets Under Management
AUM remained at about the same level in the previous week. AUM as of Sep 21st were USD 59.6bn. The largest ETF by AUM is the TOPIX ETF, managed by Nomura Asset Management, with AUM of USD 6.7bn.
To request a copy of the report click here
Source: Aram Flores and Shan Lan -DB Index Research
ICICI Prudential files for Gold ETF with SEBI
September 23, 2009-On September 18, 2009 ICICI Prudential filed with the SEBI (Securities and Exchange Board of India.) for a Gold Exchange Traded Fund
The name of the fund will be:
ICICI Prudential Gold Exchange Traded Fund
Name of the asset management company: ICICI Prudential Asset Management Company Ltd.
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Source: SEBI
HDFC Mutual Fund files for gold ETF with SEBI
September 23, 2009-On september 10, 2009 HDFC Mutual Fund filed an application with the SEBI (Securities and Exchange Board of India) for a gold product.
The fund name will be:
HDFC Gold Fund.
view filing
Source: SEBI
Fund houses try to lure investors with gold ETFs
September 23, 2009--Many mutual fund houses are planning to launch gold exchange traded funds (ETFs) to cash in on the buzz around gold.
At least four fund houses are planning to launch gold funds or gold ETFs.
HDFC Mutual Fund and ICICI Prudential filed draft offer documents with SEBI in September. Religare Mutual Fund is expecting SEBI approval for its gold ETF. Principal PNB Mutual Fund is planning to apply to SEBI for a gold ETF to be launched in three months, said Mr Sudipto Roy, Business Head of Principal AMC.
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Source: Hindu Business Line
HKEx Publishes Information Paper on its Proposed Introduction of Flexible Index Options
September 22, 2009--Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Tuesday) plans to introduce Flexible Index Options in the first quarter of next year, pending regulatory approval.
Flexible Index Options are Hang Seng Index and H-shares Index options contracts which allow market participants to request customised strike prices and expiry months, provided the contracts are bought and sold through the block trade facility.
At present, large deals in some over-the-counter (OTC) contracts with the same strike prices and expiry months as exchange-traded contracts are already executed as block trades in HKEx's derivatives market. HKEx is seeking to expand that part of the market by allowing flexibility in strike prices and contract months.
HKEx believes its introduction of Flexible Index Options would provide OTC market participants with an attractive counterparty risk alternative. OTC players using exchange-traded futures contracts to hedge their OTC option positions would realise collateral and margining efficiencies when they book relevant positions with HKEx. HKEx also believes offering Flexible Index Options would help increase market transparency by attracting more OTC deals to its block trading facility. Increased market depth is another potential benefit.
Some key features of Flexible Index Options are listed below:
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Series are created upon the request of an Exchange Participant according to the stipulated procedures and criteria; |
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Strike prices are in whole index points and subject to other limitations (please see Appendix I of the information paper for examples of acceptable strike prices); |
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Expiry must be on the second to the last trading day of any calendar month and is subject to other limitations (please see Appendix II of the information paper for examples of possible expiry months); |
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A series will not be created if there is a standard series with the same strike price and expiry; |
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Transactions must be through block trades of 100 contracts or more; |
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No market making as execution is confined to block trades; |
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Exchange fee, Commission levy, trading hours, exercise style and settlement method are the same as standard series. Position limits and reporting requirements are also the same and in combination with the standard series; and |
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There are appropriate risk management measures in place to safeguard the integrity of clearing house. |
Source: Hong Kong Exchanges and Clearing Limited
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