East Asia
– Market participants are searching for signals of earnings resilience amid tariff risks as earnings season begin.
– In Asia, Japan saw political shifts as ruling coalition lost majority in upper house election, though Prime Minister Shigeru Ishiba said he will continue leading.
$CSOP SEA TECH ETF S$(SQQ.SI)$
–SQU fell WTD in USD and that was led by Sea Ltd, Wipro and Astra.
– While Sea Ltd saw WTD decline, its target price was raised by HSBC Global Research. Its consolidated adjusted EBITDA is poised to see 83% growth, led by Shopee’s GMV growth, higher bookings in gaming and loan-book growth.
China
$CSOP DIV ETF S$(SHD.SI)$WTD return: +2.37%
$CSOP Star&Chinext50 S$(SCY.SI)$WTD return: +1.08%
– SHD ’s WTD rise was driven by Shanxi Lu’an Environmental, Pingdingshan Tianan Coal and Cosco Shipping.
– SCY ’s WTD rise was driven by CATL, Zhongji Innolight and Sungrow Power. CATL gained following a report that the European Commission is crafting a plan to ban car rental firms and big corporations from buying non-electric vehicles for their fleets, beginning 2030, which Morgan Stanley deemed as positive for the battery maker.
US
– US equity markets hit record highs ahead of major earnings reports like $Tesla Motors(TSLA)$ and GOOGLE
– Secretary Bessent has made remarks rejecting calls for Powell’s immediate resignation and urged a review of the Fed’s non-monetary policy functions.
Source: CSOP, Bloomberg, JPM, as of 2025/07/22.
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LCU
The CSOP FTSE Asia Pacific Low Carbon ETF (the “ETF”) has been developed solely by CSOP Asset Management Pte. Ltd. The ETF is not in any way connected to or sponsored, endorsed, sold, or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies. All rights in the FTSE Asia Pacific Low Carbon Select Index (the “Index”) vest in the relevant LSE Group company which owns the Index. FTSE® is a trademark of the relevant LSE Group company and is used by any other LSE Group company under license. The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent, or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of reliance on or any error in the Index or (b) investment in or operation of the ETF. The LSE Group makes no claim, prediction, warranty, or representation either as to the results to be obtained from the ETF or the suitability of the Index for the purpose to which it is being put by CSOP Asset Management Pte. Ltd.
SCY
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SQQ/SQU
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SHD
All rights in the SSE Dividend Index (“Index”) vest in China Securities Index Company (“CSI”). CSI does not make any warranties, express or implied, regarding the accuracy or completeness of any data related to the Index. CSI is not liable to any person for any error of the Index (whether due to negligence or otherwise), nor shall it be under any obligation to advise any person of any error therein. The Product based on the Index is in no way sponsored, endorsed, sold or promoted by CSI and CSI shall not have any liability with respect thereto.
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