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韩国将启动24小时外汇市场 放开韩元交易限制
智通财经网· 2025-09-26 00:08
在 6 月份的市场分类审查中,MSCI强调,韩国若要被认定为发达市场,就必须实现完全开放的货币可 兑换性。该报告还指出,需要废除资本管制,建立更深入、更活跃的在岸和离岸市场,并缩小买卖价 差。 MSCI指出,发达外汇市场的关键特征包括:全球投资者广泛参与、实时价格透明、可靠的高效结算体 系以及广泛的套期保值工具可用性。该指数提供商当时表示,韩国采取的这些渐进式措施(比如延长部 分交易时段)并不能完全"反映发达市场目前的实际情况"。 这一举措凸显了李在明对市场改革的坚定决心,这些改革将使该国更符合国际标准。一个关键的挑战在 于克服外汇市场的结构性障碍,因为这被视为韩国股票被纳入MSCI发达市场指数指数的必要条件。 目前,由于报告义务及其他监管限制,非居民外汇交易已得到有效限制。而即将出台的立法修订措施将 消除这些障碍。与此同时,韩国银行计划建立一个新的结算系统,该系统能够实现 24 小时内处理韩元 支付业务。 智通财经APP获悉,韩国财政部表示,韩国正着手将外汇市场延长至24小时全天开市,并放宽非居民之 间韩元交易的限制。韩国财政部高级官员Kim Jae-hwan表示:"外汇市场的开放事宜将于明年某个时候 实施 ...
dbg markets:相比于发达市场,多数人更看好新兴市场
Sou Hu Cai Jing· 2025-08-26 03:00
Group 1 - iShares Core MSCI Emerging Markets ETF attracted $5.8 billion in capital over four months following the "liberation day" policy announcement, with a 5.8% increase in assets, outperforming the 3.3% growth of the Vanguard developed markets ETF [2] - Emerging market policymakers have demonstrated market discipline, maintaining sustainable debt levels compared to developed markets, with countries like Brazil and India having sovereign debt to GDP ratios lower by 15-20 percentage points than G7 nations [2] - Emerging markets have made significant progress in financial deepening, industrial upgrading, and institutional optimization over the past decade, with Vietnam's manufacturing value-added to GDP rising to 25%, an 8 percentage point increase since 2015 [2] Group 2 - The expectation of Federal Reserve interest rate cuts has led to a weakening dollar index, creating a favorable environment for the revaluation of emerging market assets [3] - Emerging market stocks have shown a median excess return of 8%-10% relative to developed markets during periods of dollar decline, with the performance gap between emerging and developed market indices widening to 5% for the 2024-2025 cycle [3] - Institutional investors are reassessing emerging markets, with current risk premiums for emerging market stocks exceeding those of developed markets by 150 basis points, compared to a historical average of 100 basis points [3]
大摩:美元疲软和政策可信度在提振新兴市场前景
智通财经网· 2025-08-25 13:41
Group 1 - Emerging markets are gaining strong momentum as traditional boundaries with developed markets fade, presenting compelling investment opportunities in fixed income [1] - Emerging market assets, including sovereign credit, local currency bonds, and equities, are outperforming developed markets due to a weaker dollar and stronger emerging market currencies [1] - The tightening of U.S. credit spreads and declining U.S. Treasury yields are crucial for the continued strength of emerging market spreads and local bond performance [1] Group 2 - The credibility of emerging market central banks has improved post-COVID, demonstrating their ability to act independently and effectively in the face of shocks [2] - Fiscal conditions remain imbalanced, with developed markets still holding advantages in fiscal capacity, credibility, and lower currency risk [2] - Despite increasing cross-border capital inflows into emerging markets, global positioning remains cautious, with most investors maintaining moderate exposure to emerging market fixed income [2] Group 3 - Morgan Stanley is optimistic about local bonds in Brazil, Colombia, Hungary, and Turkey, as well as certain sovereign credits in Chile, Guatemala, Mexico, Morocco, South Africa, and Zambia [2]
汇丰调查显示投资者对新兴市场的乐观程度达到两年来最高
news flash· 2025-06-24 16:03
Core Insights - HSBC's quarterly survey indicates that investor optimism towards emerging markets has reached its highest level in over two years, with approximately 44% of respondents expressing a positive outlook for the next three months [1] - This optimism marks an increase from 36% in March, representing the highest level since March 2023 [1] - The survey encompasses funds managing a total of $414 billion in assets within emerging markets [1] - HSBC economist Murat Ulgen states that the consensus remains that emerging market equities are expected to outperform developed market equities in the coming months [1]