20151001-三星证券-Asia_Pacific_ETFs_4Q_preview-Building_a_portfolio_with_focus_on_risk_control_26页_961kb

ETF News Summary

Core Content

This document provides an overview of the performance and trends in Asia Pacific ETF markets as of September 2015, focusing on market volatility, ETF asset movements, trading activity, and investment strategies for the fourth quarter. It also includes data on ETF listings and their asset values across different exchanges and asset classes.

Main Points

Market Performance in Q3 2015

• Asia Pacific markets experienced weak performance in September due to global market volatility, primarily driven by G2-related risks.
• Korea and Taiwan were the only markets in the region that posted positive returns, with Korea at 1.1% and Taiwan at 0.1%.
• Japan and China continued their poor performance, with the Nikkei 225 losing 7.9% and the Shanghai and HSCEI indices falling 12.5% and 12%, respectively.
• Other markets like Indonesia, the Philippines, Thailand, and Australia also performed poorly, while India and Malaysia showed relatively stronger results.

ETF Asset Movements

• ETF assets declined in most Asia Pacific markets, but Korea was the only one with a confirmed increase in assets.
• The increase in Korea was largely attributed to the listing of new ETNs.
• Hong Kong saw massive capital outflows from mainland China ETFs, Japan from benchmark index ETFs, and Singapore from Asia stock market ETFs, all due to the weakness in the Asian stock markets.

Trading Activity

• The Shanghai ETF market saw a decline in three-month average daily trading value from USD880m to USD640m.
• The Shenzhen ETF market experienced a 40% m-m drop in average daily trading value, from USD110m to USD60m, due to steep Chinese market declines and new regulations on margin loans.
• The Japanese ETF market saw an increase in average daily trading value to USD250m, driven by strong demand for leveraged ETFs despite the stock market decline.

4Q Investment Strategy

• G2-related risks (US Fed rate hikes and Chinese economic slowing) are expected to continue affecting global financial markets.
• Diverging performances among Asia Pacific countries are anticipated in 4Q.
• Recommendations:
  1. Focus on risk management.
  2. Invest in value-stock ETFs from Korea and Taiwan, including dividend plays.
  3. Remain exposed to volatility ETFs in Japan.
  4. Include Chinese large-cap ETFs in the short term, with potential policy momentum.

Key Information

ETF Listings (As of Sep 30, 2015)

• Korea had the highest number of ETF listings in 2015, with 72 ETFs.
• Tokyo also saw a significant number of ETFs, with 24.
• Hong Kong had 12 ETFs listed, Shanghai had 11, and Shenzhen had 3.
• Other markets like Singapore and Taiwan had 10 and 4 ETFs listed, respectively.

AUM by Asset Class (As of Sep 30, 2015)

• Equity ETFs had the highest AUM at USD221,637m with 734 ETFs.
• Fixed Income ETFs had USD34,797m with 9 ETFs.
• Money Market ETFs had USD10,778m with 68 ETFs.
• Commodity ETFs had USD4,726m with 79 ETFs.
• Specialty ETFs had USD1,335m with 44 ETFs.

AUM by Exchange (As of Sep 30, 2015)

• Tokyo had the highest AUM at USD122,175m.
• Shanghai had USD56,255m.
• Hong Kong had USD35,826m.
• Korea had USD17,117m.
• Singapore had USD15,564m.
• Shenzhen had USD9,997m.

Top ETFs by AUM

• FORTUNE SGAM MONEY MKT FUND (Shanghai) had the highest AUM at USD34,192m.
• NOMURA ETF - TOPIX (Tokyo) had USD31,941m.
• TRACKER FUND OF HONG KONG (Hong Kong) had USD19,411m.
• SAMSUNG KODEX LEVERAGE ETF (Korea) had USD174,892k.
• ISHARES FTSE A50 CHINA INDEX (Hong Kong) had USD331,205k.

ETFs with Top Trading Value

• NEXT FUNDS NKY225 LVRGED ETF (Tokyo) had the highest trading value at USD1,757,631k.
• FUBON SSE180 LEV 2X IN ETF (Taiwan) had USD87,707k.
• E FUND CHINEXT PRICE INDEX (Shenzhen) had USD146,141k.
• SPDR STRAITS TIMES INDEX ETF (Singapore) had USD1,379k.
• YUANTA/P-SHRS TW TOP 50 ETF (Taiwan) had USD28,244k.

Newly Listed ETFs in September 2015

Asia-Pacific Region

• MIRAE TIGER 200 INDUS ETF (Korea)
• MIRAE TIGER QUALITY VAL ETF (Korea)
• MIRAE TIGER 200 HEALTH C ETF (Korea)
• MIRAE TIGER 200 CONS STP ETF (Korea)
• HANWHAARIRANG KOSPI ETF EQ (Korea)
• SPDR MSCI WORLD QUALITY MIX (Australia)
• DIAM ETF JPX-NIKKEI 400 (Japan)
• DIAM ETF TOPIX (Japan)
• SAMSUNG KODEX200 M&S ETF (Korea)

US Market

• SPDR S&P 500 ETF (US)
• SPDR S&P 500 Ultra ETF (US)
• SPDR S&P 500 Equal Weight ETF (US)
• SPDR S&P 500 Select Sector ETF (US)
• SPDR S&P 500 Dividend ETF (US)
• SPDR S&P 500 Mid Cap ETF (US)
• SPDR S&P 500 Small Cap ETF (US)
• SPDR S&P 500 Value ETF (US)
• SPDR S&P 500 Growth ETF (US)
• SPDR S&P 500 Low Volatility ETF (US)

Summary of Key Trends

• The Asia Pacific ETF market faced significant challenges in September due to global volatility.
• Korea and Taiwan stood out with positive returns, while Japan and China continued their downward trend.
• ETF assets declined across most markets, with Korea being the exception.
• Trading activity was affected by market performance and regulatory changes.
• The 4Q strategy emphasizes risk management and exposure to specific ETFs in different markets.