Nomura Asset Management Co yesterday launched the first cross-border exchange-traded fund (ETF) listings in Taiwan and Japan, in line with efforts by the Financial Supervisory Commission (FSC) to turn Taiwan into a regional asset management hub.
At a ceremony in Taipei, Taiwan Stock Exchange (TWSE) chairman Sherman Lin (林修銘) called the move a milestone in international cooperation for the country’s capital market.
TWSE president Edith Lee (李愛玲) attended the ceremony at the Tokyo Stock Exchange.
Photo: CNA
ETFs are investment funds that trade like shares and can track anything from a single stock to a broad market index.
In Taipei, Nomura Asset Management Taiwan Ltd (野村投信) listed the NEXT FUNDS-Nomura TOPIX Feeder ETF (009812), which tracks Japan’s largest ETF, the NEXT Funds TOPIX (1306.JP).
In Tokyo, Nomura listed the NEXT FUNDS TIP FactSet Taiwan Innovative Technology 50 Index ETF (412A), which follows Taiwan’s Nomura Taiwan Innovative Technology 50 ETF (00935).
FSC Deputy Chairman Chen Yen-liang (陳彥良) said Taiwan’s recognition of Japan as an overseas ETF registration and management site helped pave the way for the launches.
Tokyo Stock Exchange president Iwanaga Moriyuki said the stock markets in Taiwan and Japan have performed well this year, and he hoped cross-listings would eventually extend to active ETFs, not just index-tracking products.
Taiwan listed its first ETF in 2003 and is now the third-largest ETF market in the Asia-Pacific region, with 294 ETFs worth NT$6.77 trillion (US$224.86 billion) as of the end of last month, the TWSE said.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
Memory chip stocks extended their losses yesterday after Alphabet Inc’s Google publicized research that could allow more efficient use of the storage needed for artificial intelligence (AI) development. SK Hynix Inc and Samsung Electronics Co, South Korean leaders in the market, fell more than 6 percent and about 5 percent respectively in Seoul. In the US, Micron Technology Inc, Western Digital Corp and Sandisk Corp slid more than 2 percent in pre-market trading, after they all closed lower on Wednesday. Memory companies have been on a tear in recent months as the rapid development of AI infrastructure triggered a spike in chip
RSS