In today’s briefing:
- SGX FTSE Taiwan Index Futures – The Most Liquid Taiwan Offshore Contract
- Will the Approval of Genuine Biotech’s COVID-19 Oral Drug Change China’s Zero-COVID Policy?
SGX FTSE Taiwan Index Futures – The Most Liquid Taiwan Offshore Contract
- The SGX FTSE Taiwan Index Futures are CFTC certified and started trading on 20 July 2020 and use the FTSE Taiwan RIC Capped Index as the underlying.
- Volumes on the SGX FTSE Taiwan Index Futures have increased significantly since launch and the ADTV for July was US$3.34bn versus US$509m for the MSCI Taiwan Index Futures.
- At US$4.86bn, open interest for the SGX FTSE Taiwan Index Futures is also substantially higher than the open interest on the MSCI Taiwan futures at US$797m.
Will the Approval of Genuine Biotech’s COVID-19 Oral Drug Change China’s Zero-COVID Policy?
- China approved the first self-developed COVID-19 oral drug (Azivudine), but there are controversies about efficacy and safety profile on it, which could increase the unpredictability of domestic innovative drugs approval.
- Due to the VBP, fierce competition, uncertainties in the COVID-19 prevention/control policies and decreasing demand, the commercialization performance and outlook of Azivudine could be lower-then-expected in China and overseas markets.
- The approval of Azivudine wouldn’t change the zero-COVID policy. Until President Xi’s third term appointment is confirmed, there’s no reason to expect China to deviate from this policy.
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