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Daily Dispatches: China takes a fancy to ETFs

The mainland’s two stock exchanges are expected to launch two exchange-traded funds as their first products linked to Hong Kong shares. Shanghai Stock Exchange president Zhang Yujun said yesterday his bourse plans to introduce the H-share ETF this year, depending on market acceptance. (The Standard)

US President Barack Obama has proposed stricter limits on financial institutions’ risk-taking in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the President’s political base. (Sydney Morning Herald)

The plan to curb proprietary trading shows banking regulations are being implemented unilaterally, not on the global scale lenders urged, according to lawyers. (Bloomberg)

China’s economic growth accelerated to its fastest pace since 2007 in the fourth quarter last year. Data out today showed that its fourth quarter gross domestic product (GDP) rose 10.7 per cent on-year, higher than a market forecast of 10.5 per cent growth. (938 Live)

The latest report by human resource consultancy Hudson indicate that more firms in Singapore are raising headcount in the first quarter, paying bigger bonuses and boosting starting salaries of new recruits. (Straits Times)

AXA Asia Pacific says National Australia Bank has completed due diligence on its proposed A$13.3bn dollar takeover. (Sky News)

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