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ASIC updates information for businesses on ICOs and crypto-assets
May 30, 2019--ASIC has released new information to help businesses involved with initial coin offerings (ICOs) and crypto-assets to consider their legal obligations and satisfy themselves they are operating lawfully.
ASIC has updated Information Sheet 225 Initial coin offerings and crypto-assets (INFO 225) based on our recent experiences with ICOs and crypto-assets, which indicate that ICOs and crypto-assets will often be financial products or involve financial products that are regulated under the Corporations Act.
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Source: ASIC
HKEX Welcomes its First Listing of Two-Time Inverse Product
May 28, 2019--Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome today (Tuesday) its first listing of a two-time Inverse Product, the CSOP Hang Seng Index Daily (-2x) Inverse Product (stock code: 7500).
An Inverse Product, also known as an Inverse Exchange Traded Fund (ETF), is designed to provide daily investment results of up to 200 per cent of the inverse performance of its underlying benchmark, before fees and expenses. The increase in the leverage multiple on Inverse Products to a maximum of negative two times from negative one time will allow investors to potentially capture higher returns during a market decline.
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Source: Hong Kong Exchanges and Clearing Limited (HKEX)
NSE launches new brand identity for Nifty indices
May 28, 2019--The National Stock Exchange (NSE) on Tuesday announced the launch of a new brand identity for Nifty indices.
The new brand logo emphasises on the letter 'N' and an upward rising graph, signifying growth and momentum, capturing a new direction for the Indian capital markets.
"Nifty indices, more particularly the Nifty 50 index, has become synonymous with equity markets and reflected the growth story of Indian equity markets."
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Source: business-standard.com
eInvest launches Australia's first actively managed ESG ETF
May 23, 2019--eInvest, a distributor of exchange traded managed fund solutions, has launched Australia’s first actively managed ESG exchange traded fund (ETF).
The new fund, eInvest Future Impact Small Caps Fund (IMPQ) is also Australia's first Small Cap Active ESG ETF and is managed by affiliate, Perennial Value Management.
The fund aims to provide long-term capital growth by investing in Australian and New Zealand small and mid cap stocks that contribute positively and sustainably to society and the environment.
The founding belief of this new strategy is that investors in environmental, social and governance (ESG) portfolios should not have to sacrifice their financial objectives in order to achieve an ESG impact.
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Source: eInvest
Sebi allows mutual funds in exchange traded commodity derivatives-The mutual fund schemes cannot invest in physical goods except in "gold" through ETFs
May 22, 2019--The Securities and Exchange Board of India (Sebi) on Tuesday allowed mutual funds to participate in exchange-traded commodity derivatives (ETCD). However, the regulator has decided to keep away MFs from trading in derivatives of sensitive commodities.
The mutual fund schemes cannot invest in physical goods except in 'gold' through ETFs.
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Source: economictimes.indiatimes.com
Singapore Lowers Growth Forecasts as Global Economy Cools
May 21, 2019--Singapore's government has downgraded its growth forecasts for this year, as the Asian city state posted its worst quarterly economic performance in a decade amid a slowing global economy and trade upheaval, the Financial Times reported. The global trade hub's Ministry of Trade and Industry said on Tuesday that it now expects Singapore's growth for 2019 to come in at between 1.5 per cent and 2.5 per cent.
Previously the government had forecast economic expansion of between 1.5 per cent and 3.5 per cent for the year. The downgrade came as Singapore posted its worst quarterly expansion in gross domestic product in almost a decade. For the first three months of the year, the economy grew by just 1.2 per cent compared to the same period in 2018. That was below both the 1.5 per cent rate of growth predicted by economics polled by Reuters, and the 1.3 per cent recorded in the immediately prior fourth quarter.
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Source: globalinsolvency.com
Korea's Economic Outlook in Six Charts
May 21, 2019--With strong fundamentals, Korea's economy has performed well in recent years, but short-term growth is now moderating, and long-term growth is facing headwinds. Fiscal and monetary policies should boost growth, and structural policies should foster inclusion and enhance productivity, according to the IMF’s latest assessment of the Korean economy.
Korea is the 11th largest economy in the world and its per capita income has recently passed the $30,000 mark. It has a very strong export base and a skilled labor force. Importantly, to guard the economy against significant adverse developments, Korea has built large buffers in the financial and public sectors.
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Source: IMF
India in 2024: Narendra Modi once more, but to what end?
May 17, 2019--Even with the recent economic slowdown, India still boasts Asia's fastest growing economy in 2018. But beneath the veneer of impressive GDP expansion, uneasiness about India's economic model clearly tempers enthusiasm.
Indians are widely expected to decide to continue the country's current economic development path under the leadership of the Bharatiya Janata Party (BJP).[1]
Even with the recent economic slowdown, India still boasts Asia's fastest growing economy in 2018. But beneath the veneer of impressive GDP expansion, uneasiness about India's economic model clearly tempers enthusiasm. There is no doubt that the slowdown of India economy casts shadow on Narendra Modi's second term and whether this time it will be different.
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Source: bruegel.org
China's central bank won't let yuan weaken past 7 to the dollar: sources
May 17, 2019--China's central bank will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank's thinking said.
"At present, rest assured they will certainly not let it break 7," a source told Reuters.
A defense of the 7 level could help boost confidence in the currency and soothe investor fears about a sharp depreciation in the yuan, or renminbi, even as souring trade relations with Washington make competitive devaluation a compelling option for Beijing.
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Source: Reuters
STOXX turns to China's expanding ESG market
May 17, 2019--Deutsche Boerse unit STOXX plans to target growing interest in environmental, social and governance products in China.
The biggest hurdle is showing Chinese investors they can invest sustainably and remain profitable, says Rick Chau, managing director and head of Asia-Pacific at STOXX.
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Source: fow.com
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