CSOP ETFs Weekly PerformanceRecap-20241025

CSOP AML wrote a column · Oct 28, 2024 11:37

• Last week, SQU (+1.97% in USD) and SCY (+0.57% in SGD) gained, while LCU (-2.50% in USD), SRT (-2.97% in SGD), and SHD (-1.10% in SGD) fell.

• $CSOP LOW CARBON US$ (LCU.SG)$ ’s fall was attributable to IT, financials and consumer discretionary by sectors, and Japan, China and Taiwan by geographies. By individual firms, the decline was led by TSMC, Alibaba and Samsung Electronics. TSMC fell following suspension of its 2nm plant in Hsinchu for investigation of a death likely caused by electrocution and discovery that chips for a specific customer were delivered to Huawei.

• $CSOP SEA TECH ETF(USD) (SQU.SG)$ ’s gains were led by Grab and Astra. Grab’s target price was raised +4% by UBS ASEAN bank analyst in anticipation of the sector scaling faster and cheaper than traditional banks, due to a vast user base and favorable regulatory environment. Astra rose following a raise in its target price by 11% by JPM to reflect a projected 12-18% increase in FY24E-26E NPATMI from previous estimates.

• $CSOP S-REITs INDEX ETF (SRT.SG)$ ’s decline was attributable to industrials, retail and office by subsectors and FLT, CICT and MLT by individual REITs. MLT fell after posting fiscal Q2 DPU that is lower by 10.6% y/y.

CSOP ETFs Weekly PerformanceRecap-20241025

Source: Bloomberg, as of 20241025.

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