Commonwealth Bank offers Asian investment product
Australia's Commonwealth Bank has launched Capital Asia, a new investment product designed to enable investors to benefit from the rapid growth of Asian business. The new product will be based on the sharemarket indices of Japan, Korea, Singapore, Taiwan and Hong Kong.
Capital Asia is a five year Australian dollar investment offering capital protection at maturity and a guaranteed minimum 7% coupon in the first year of the investment, with potential coupons of 3% pa during years 2-5. The minimum investment is A$10,000. CommSec's chief equities economist Craig James said: The economies which stand to benefit most from the global expansion are export-orientated economies, particularly those leveraged to the Chinese economy. It follows that mainland China's neighbors - Japan, Korea, Hong Kong, Taiwan and Singapore - are benefiting significantly from the 'China miracle'. Firm business activity and higher consumer spending have lifted company profits, in turn boosting growth of the region's sharemarkets.
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