CSOP ETFs Weekly Performance Recap-20241108
•Last week, LCU (+2.66% in USD), SQU (+3.01% USD) and SCY (+4.89% in SGD) gained while SRT (-3.38% in SGD) and SHD (-0.66% in SGD) fell. This happened amidst the backdrop of Trump winning the US presidency election as well as a 25bps Fed rate cut.
• $CSOP LOW CARBON US$ (LCU.SG)$ ’s rise is attributable to financials, IT and consumer discretionary by sectors and Japan, China and Australia by region. By individual firms, gains were led by TSMC, $Toyota Motor (7203.JP)$ and $Mitsubishi UFJ Financial Group (MUFG.US)$ . $Taiwan Semiconductor (TSM.US)$ gained after a top executive from TSMC said the value of Taiwan’s semiconductor output is projected to rise 22% to >$164 billion this year, driven by AI and robust economic growth. Toyota gained after it reported solid profits excluding one-offs and operations are set for a recovery. Additionally, it raised its dividend per share guidance.
• $CSOP SEA TECH ETF(USD) (SQU.SG)$ ’s gains can be attributable to Delta Electronics, $Grab Holdings (GRAB.US)$ and $Wipro (WIT.US)$ . According to Maybank Securities, Delta Electronics could gain from potential customer redirection from its parent company in Taiwan.
• $CSOP S-REITs INDEX ETF (SRT.SG)$ ’s losses are led by industrial, retail and data centre by subsectors, and KDCREIT, MINT and FLT by individual REITs. Trump 2.0 incited risk of higher bond yields, which poses as a downside risk for SREITs.
Source: Bloomberg, as of 20241108
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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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