• 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 investigati...
• $CSOP LOW CARBON US$ (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 investigati...
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Last week, the Beige Book released painted a picture that activity has been much softer than hard data have indicated, which may alleviate market’s concerns about a pause in rate cuts. For instance, Hurricane Helene destroyed crops and paused business activity and tourism, and most districts saw a fall in manufacturing activity.
As for data releases last week, US jobs report was the main focus, and data revealed more positive growth outlook, with initial...
As for data releases last week, US jobs report was the main focus, and data revealed more positive growth outlook, with initial...
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• Last week, $CSOP LOW CARBON US$ (LCU.SG)$ (+0.35% in USD), $CSOP SEA TECH ETF(USD) (SQU.SG)$ (+1.89% in USD), $CSOP S-REITs INDEX ETF (SRT.SG)$ (+0.75% in SGD), $CSOP DIV ETF S$ (SHD.SG)$ (+1.30% in SGD) and $CSOP STAR&CHINEXT50 SGD (SCY.SG)$ (+5.62% in SGD) gained.
• LCU’s rise was due to financials, real estate and utilities by sector, and Australia, Taiwan and Indonesia by country. By individual firms, gains were predominantly led by Commonwealth Ba...
• LCU’s rise was due to financials, real estate and utilities by sector, and Australia, Taiwan and Indonesia by country. By individual firms, gains were predominantly led by Commonwealth Ba...
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· Last week, data reflected better-than-expected domestic consumption and labor market.
· Retail sales in September rose by 0.4%, surpassing the 0.3% consensus, and the control group increased by 0.7%, also beating the 0.3% consensus. As such, economists believe these figures indicate a stronger consumption growth rate in 2H24.
· Initial claims dropped by 19k to 241k, lower than the 259k consensus, partially reversing the manufacturing-related increase i...
· Retail sales in September rose by 0.4%, surpassing the 0.3% consensus, and the control group increased by 0.7%, also beating the 0.3% consensus. As such, economists believe these figures indicate a stronger consumption growth rate in 2H24.
· Initial claims dropped by 19k to 241k, lower than the 259k consensus, partially reversing the manufacturing-related increase i...
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TSMC has just released its Q3 2024 results, delivering a boost to the chip industry. The performance was impressive, with sales, net profit, and gross margin all exceeding expectations. Revenue grew 39% year-on-year, while net profit surged 54%, with a gross margin of 57.8%. This success is primarily attributed to the sustained strong demand for artificial intelligence (AI), driving sales of $Taiwan Semiconductor (TSM.US)$ 's...
![[LCU/LCS] AI Demand Remains Strong, TSMC's Q3 Net Profit Soars 54% YoY!](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20241017/1729154957905-475adf9a56.jpeg/thumb?area=999&is_public=true)
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• September FOMC meeting minutes revealed a split decision on rate cuts, with the majority favoring a 50 bp reduction. However, as last week's data came out more robust than anticipated, it is forecasted that the pace of rate cuts will be slower moving forward.
• Last Thursday saw the release of weak labor market data, with initial claims rising to 258k (consensus: 230k) amidst disruptions arising from Hurricane Helene and Michigan’s layoffs.
• Inflation prin...
• Last Thursday saw the release of weak labor market data, with initial claims rising to 258k (consensus: 230k) amidst disruptions arising from Hurricane Helene and Michigan’s layoffs.
• Inflation prin...
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【The US】
🔸 US deficit for fiscal 2024 estimated at US$1.8 trillion, largest after Covid. The Congressional Budget Office (CBO) estimated on Tuesday a US federal deficit of US$1.8 trillion for fiscal 2024, the highest in the post-Covid era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits. The estim...
🔸 US deficit for fiscal 2024 estimated at US$1.8 trillion, largest after Covid. The Congressional Budget Office (CBO) estimated on Tuesday a US federal deficit of US$1.8 trillion for fiscal 2024, the highest in the post-Covid era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits. The estim...
![Japan's GDP up annualized 0.2% in August; US deficit for fiscal 2024 estimated atUS$1.8 trillion [CSOP Global Market Morning Report]](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20241010/1728538543201-9bf5e52fff.jpeg/thumb?area=999&is_public=true)
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【The US】
🔸 US trade deficit narrows sharply in August. The US trade deficit narrowed sharply in August as exports increased and imports fell, suggesting that trade could be a small drag on economic growth in the third quarter. The trade gap contracted 10.8 per cent to US$70.4 billion from a revised US$78.9 billion in July, the Commerce Department’s Bureau ...
🔸 US trade deficit narrows sharply in August. The US trade deficit narrowed sharply in August as exports increased and imports fell, suggesting that trade could be a small drag on economic growth in the third quarter. The trade gap contracted 10.8 per cent to US$70.4 billion from a revised US$78.9 billion in July, the Commerce Department’s Bureau ...
![US trade deficit narrows sharply in August; China explores cross-border uses for digital yuan in new trial [CSOP Global Market Morning Report]](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20241009/1728444626895-99b761220d.jpeg/thumb?area=999&is_public=true)
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– $CSOP S-REITs INDEX ETF (SRT.SG)$ gained 4.02% m/m in September from fund flows into the sector after the Fed began its rate cutting journey (Fed announced a 50bps rate cut in September)
– The 50 bp rate cut would lower borrowing cost in the future which in turn boosts AEI and M&A activities
– Since inception, SRT outperformed 56bp gross of TER per annum.
– +49bp outperformance from the ETF’s tax efficiency and +7bp from portfolio positioning and particip...
– The 50 bp rate cut would lower borrowing cost in the future which in turn boosts AEI and M&A activities
– Since inception, SRT outperformed 56bp gross of TER per annum.
– +49bp outperformance from the ETF’s tax efficiency and +7bp from portfolio positioning and particip...
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Chinese Stocks Surge on Return from Holidays as Euphoria Extends [CSOP Global Market Morning Report]
【China】
🔸 Chinese Stocks Surge on Return from Holidays as Euphoria Extends. Chinese stocks listed onshore jumped as trading resumed following a week-long holiday, with encouraging home sales and consumption data giving fresh impetus to a rally sparked by Beijing’s stimulus blitz. The benchmark CSI 300 Index and SSEC Index climbed almost 11% in early trading before paring its advance. The measure h...
🔸 Chinese Stocks Surge on Return from Holidays as Euphoria Extends. Chinese stocks listed onshore jumped as trading resumed following a week-long holiday, with encouraging home sales and consumption data giving fresh impetus to a rally sparked by Beijing’s stimulus blitz. The benchmark CSI 300 Index and SSEC Index climbed almost 11% in early trading before paring its advance. The measure h...
![Chinese Stocks Surge on Return from Holidays as Euphoria Extends [CSOP Global Market Morning Report]](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20241008/1728367312428-c514003b5c.jpeg/thumb?area=999&is_public=true)
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