Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

<ul><li>At the beginning of the week, I was determined to have this post with a more bullish tone. Maybe it is a contrarian indicator.</li><li>But as of yesterday's market, I see that my efforts were rather over-optimistic.</li><li>The note is what is in front of me rather than speculating we are at the change in trend.</li></ul>

At the beginning of the week, I was determined to have this post with a more bullish tone. Maybe it is a contrarian indicator.But as of yesterday's market, I see that my efforts were rather over-optimistic.The note is what is in front of me rather than speculating we are at the change in trend.

HSI Properties, Link RIET, HSI Financials, China Merchants Bank, and ICBC

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

iShares China CNY Bond UCITS ETF / Equity Bottom-Up

<ul>
<li>A recent Morningstar study found expense ratios for fund investors (consisting of management fees and the continuing costs of owning fund units) have halved in two decades from 0.93% of the total amount invested in all funds in 2000, to 0.41% in 2020. </li>
<li>
As many as 12 of Singapore-listed ETFs currently maintain expense ratios below 0.41%, with seven ETFs investing in fixed income markets with an average expense ratio of 0.26%, four ETFs investing in equities, with an average expense ratio of 0.22%, and the SPDR Gold ETF with a 0.40% management fee.
</li>
<li>
Of the 12 ETFs, the three that have seen the highest inflows in the 2021 YTD include the ICBC CSOP FTSE Chinese Government Bond ETF, the ABF Singapore Bond Index Fund and the Nikko AM Singapore STI ETF, with combined inflows of S$480 million.  
</li>
</ul>


A recent Morningstar study found expense ratios for fund investors (consisting of management fees and the continuing costs of owning fund units) have halved in two decades from 0.93% of the total amount invested in all funds in 2000, to 0.41% in 2020. 

As many as 12 of Singapore-listed ETFs currently maintain expense ratios below 0.41%, with seven ETFs investing in fixed income markets with an average expense ratio of 0.26%, four ETFs investing in equities, with an average expense ratio of 0.22%, and the SPDR Gold ETF with a 0.40% management fee.


Of the 12 ETFs, the three that have seen the highest inflows in the 2021 YTD include the ICBC CSOP FTSE Chinese Government Bond ETF, the ABF Singapore Bond Index Fund and the Nikko AM Singapore STI ETF, with combined inflows of S$480 million.  



SG-Listed ETFs with Low Expense Ratios Make Up 80% of Combined AUM

<ul>
<li>
Over the first four months of 2021 the Xtrackers FTSE Vietnam Swap UCITS ETF, SPDR S&amp;P 500 ETF, SPDR Straits Times Index ETF, SPDR Dow Jones Industrial Average ETF and Nikko AM Singapore STI ETF were the strongest performers of SGX’s suite of 30 ETFs, averaging 13% total returns.  </li>
<li>
Of the five ETFs that were recipient to the highest net inflows over the four months, three were Fixed Income ETFs:  the ICBC CSOP FTSE Chinese Government Bond ETF, the iShares Barclays USD Asia High Yield Bond Index ETF and the ABF Singapore Bond Index Fund, which saw S$285 million of combined net inflows, 58% of the total net inflows.   </li>
<li>Combined AUM of the 30 ETFs is S$9.2 billion, up from S$5.5 billion 12 months ago. Equity and REIT ETFs have continued to represent 40% of the combined AUM. However, the share of Fixed Income ETF AUM within the total AUM has grown from 34% to 46%, while the share of Gold ETF AUM has declined from 27% to 16%. </li>
</ul>



Over the first four months of 2021 the Xtrackers FTSE Vietnam Swap UCITS ETF, SPDR S&amp;P 500 ETF, SPDR Straits Times Index ETF, SPDR Dow Jones Industrial Average ETF and Nikko AM Singapore STI ETF were the strongest performers of SGX’s suite of 30 ETFs, averaging 13% total returns.   

Of the five ETFs that were recipient to the highest net inflows over the four months, three were Fixed Income ETFs:  the ICBC CSOP FTSE Chinese Government Bond ETF, the iShares Barclays USD Asia High Yield Bond Index ETF and the ABF Singapore Bond Index Fund, which saw S$285 million of combined net inflows, 58% of the total net inflows.    
Combined AUM of the 30 ETFs is S$9.2 billion, up from S$5.5 billion 12 months ago. Equity and REIT ETFs have continued to represent 40% of the combined AUM. However, the share of Fixed Income ETF AUM within the total AUM has grown from 34% to 46%, while the share of Gold ETF AUM has declined from 27% to 16%. 


Equity ETFs Rank as Top YTD Performers, as Bond ETFs Capture Most Inflows 

China

iShares China CNY Bond UCITS ETF is an exchange-traded fund incorporated in Ireland. The Fund tracks the performances of the Bloomberg Barclays China Treasury + Policy Bank Total Return Index USD. Settlement: ICSD.

iShares China CNY Bond UCITS ETF (CNYB NA)

Price Gauge
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iShares China CNY Bond UCITS ETF (CNYB NA)

HSI Properties, Link RIET, HSI Financials, China Merchants Bank, and ICBC

At the beginning of the week, I was determined to have this post with a more bullish tone. Maybe it is a contrarian indicator.

Untying The Gordian Knot

SG-Listed ETFs with Low Expense Ratios Make Up 80% of Combined AUM

A recent Morningstar study found expense ratios for fund investors (consisting of management fees and the continuing costs of owning fund units)...

Singapore Exchange Ltd (SGX)

Equity ETFs Rank as Top YTD Performers, as Bond ETFs Capture Most Inflows

Over the first four months of 2021 the Xtrackers FTSE Vietnam Swap UCITS ETF, SPDR S&P 500 ETF, SPDR Straits Times Index ETF, SPDR Dow Jones...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)