CSOP ETFs Weekly Performance Recap-20240819
Last week, LCU (+6.81% in USD), SQU (+7.10% in USD), SRT (+1.64% in SGD), and $CSOP DIV ETF S$ (SHD.SG)$ (+0.70% in SGD) gained while $CSOP STAR&CHINEXT50 SGD (SCY.SG)$ (-1.38% in SGD) fell.
$CSOP LOW CARBON US$ (LCU.SG)$ rise was due to IT, financials and consumer discretionary by sector. By geography, the gains were led by Japan, Taiwan and South Korea. By individual firms, the gains were due to Toyota Motor Corp, Samsung Electronics and Hon Hai Precision Industry. Toyota Motor rose after it was raised to Mito Securities to outperform from neutral plus. Samsung Electronics rose amidst a rise in Asian semiconductor stocks where it recouped losses from August’s selloff as investors wait for Nvidia’s results that will be reported later this month.
$CSOP SEA TECH ETF(USD) (SQU.SG)$ increase was attributable to Sea Ltd, Astra and Infosys. $Sea (SE.US)$ gained after it reported a 23.0% y/y revenue growth for Q2 2024, surpassing analyst predictions. Its optimistic outlook for Shopee indicates successful competition against rivals TikTok and Lazada, with an expected mid-20% increase in the value of goods sold this year. Barclays analyst has increased Sea Ltd’s target price. Astra could benefit from Indonesia’s potential budget plans for 2025 that focuses on mineral downstreaming, specifically nickel and copper processing and battery production.
$CSOP S-REITs INDEX ETF (SRT.SG)$ rise was led by industrial, retail and office REITs by subsectors and CLAR, MINT and MLT by individual REITs.
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“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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