CSOP ETFs Weekly Performance Recap-20240729
Last week, LCU (-2.96% in USD), SQU (-1.79% in USD), SRT (-1.36% in SGD), $CSOP DIV ETF S(SHD.SG$ (-2.03% in SGD) and $CSOP STAR&CHINEXT50 SGD(SCY.SG$ (-3.72% in SGD) all fell, alongside markets globally.
$CSOP LOW CARBON US(LCU.SG$ fall was driven by IT, industrials and financials by sector. By country, the decline was led by Japan, Australia and South Korea. By individual firms, the fall was led by Samsung Electronics, $Hitachi(6501.JP$ and $TENCENT(00700.HK$. Samsung Electronics fell after it lost its bid to overturn $303 million Texas patent verdict. Hitachi Ltd dropped alongside Japanese stocks which fell as a rout in the US and a rise in yen triggered selling of exporters like electronic makers. Tencent Holdings lowered following news that its reliance on US AI Tech could be a tech vulnerability.
$CSOP SEA TECH ETF(USD)(SQU.SG$ decline was predominantly due to Sea Ltd, Wipro, and Inari Amertron. $Sea(SE.US$ fell as Citigroup analyst lowered its price target and JPM placed it on negative catalyst watch before 2Q results. $Wipro(WIT.US$ declined following disappointing Q1 (June quarter) results where its earnings missed estimates.
$CSOP S-REITs INDEX ETF(SRT.SG$ fall was mainly attributable to industrial, office and multi-asset REITs. Losses were mainly attributable to MPACT, MLT and CLAR. MLT declined after UOB Kay Hian lowered its recommendation from buy to hold following 1Q DPU decline due to higher borrowing costs which impacted its financial performance.
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. This document is not to be construed as recommendations to buy/sell any above-mentioned securities, or any securities in the above-mentioned sectors or 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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