CSOP ETFs Weekly Performance Recap-20240722
•Last week, LCU (-2.74% in USD), SQU (-0.64% in USD), SRT (-1.30% in SGD) and $CSOP DIV ETF S$ (SHD.SG)$ (-1.43% in SGD) fell, while $CSOP STAR&CHINEXT50 SGD (SCY.SG)$ (+3.25% in SGD) rose.
• $CSOP LOW CARBON US$ (LCU.SG)$ fall was driven by IT, consumer discretionary and communication services by sector. By country, the decline was led by China, Taiwan and Japan. By individual firms, the fall was led by $Taiwan Semiconductor (TSM.US)$, $TENCENT (00700.HK)$ and $Tokyo Electron (8035.JP)$. TSMC and Tokyo Electron fell alongside Asia’s chip-related stocks due to worries regarding the possibility of the Biden administration imposing stricter restrictions on semiconductor sales to China. Despite that, TSMC saw improved revenue forecast on AI demand confidence. Tencent Holdings fell after it announced plans to terminate Synced, its free-to-play co-op shooter game, one year after launch.
• $CSOP SEA TECH ETF(USD) (SQU.SG)$ decline was predominantly due to Sea Ltd and Grab. $Sea (SE.US)$ fell despite Maribank poaching Natalie Goh from rival trust bank where she was the COO as its digital-lending business in Singapore was less than 5% of its 2023 e-commerce gross merchandise vs Indonesia’s 40%. $Grab Holdings (GRAB.US)$ fell after its price target was lowered by Jefferies.
• $CSOP S-REITs INDEX ETF (SRT.SG)$ fall was mainly attributable to retail, data center and office REITs. Losses were mainly attributable to KDCREIT, CICT and MPACT. KDCREIT dropped despite its target price being raised by UOB Kay Hian.
Disclaimers
“The investment product(s), as mentioned in this document, is/are registered under section 286 of the Securities and Futures Act (Cap. 289) of Singapore (the “SFA”).This material and the information contained in this material shall not be regarded as an offer or solicitation of business in any jurisdiction to any person to whom it is unlawful to offer or solicit business in such jurisdictions.
CSOP Asset Management Pte. Ltd. (“CSOP”) which prepared this document believes that information in this document is based upon sources that are believed to be accurate, complete, and reliable. However, CSOP does not warrant the accuracy and completeness of the information, and shall not be liable to the recipient or controlling shareholders of the recipient resulting from its use. CSOP is under no obligation to keep the information up-to-date. The provision of this document shall not be deemed as constituting any offer, acceptance, or promise of any further contract or amendment to any contract. The information herein shall not be disclosed, used or disseminated, in whole or part, and shall not be reproduced, copied or made available to others without the written consent of CSOP.
Advice should be sought from a financial adviser regarding the suitability of the investment and/or investment product before making an investment. Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not necessarily indicative of future performance. Investor should read the prospectus and product highlights sheet, which can be obtained on CSOP website or authorized participating dealers, before deciding whether to invest. This document has not been reviewed by the Monetary Authority of Singapore.”
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