East Asia
LCU YTD return: +23.36%
· Despite declining -2.08% in USD WTD, $CSOP LOW CARBON US$(LCU.SI)$ gained 23.36% in USD YTD.
· WTD performance was weighed by US-China trade jitters and Japanese political turmoil.
SQU YTD return: +7.17%
· Despite declining -2.02% in USD WTD, $CSOP SEA TECH ETF US$(SQU.SI)$ gained 7.17% in USD YTD.
· WTD decline was led by EMTK, Inari Amertron and Venture Corp. Despite Inari Amertron’s decline WTD, its target price was raised by TA Securities as its primary American smartphone customer is probably going to be exempted from the potential sectoral semiconductor tariffs proposed by the Trump administration.
China
SHD YTD return: -4.93%
SCY YTD return: +41.07%
· China is back from their National Day holiday and investors are looking ahead to the 4th Plenum which is set for 20-23 October 2025 where the next 5 Year Plan (FYP) will be reviewed.
· According to HSBC, the People’s Daily, the CCP’s official newspaper, published several articles signalling that the upcoming 15th FYP is expected to prioritize innovation, consumption expansion, balanced regional and urban development, green and sustainable transformation, and global integration.
· On the topic of anti-involution, China has launched new growth guidelines for 10 major industries to stabilize growth, drive transition, and curb irrational competition. $CSOP Star&Chinext50 S$(SCY.SI)$ $CSOP DIV ETF S$(SHD.SI)$
SCY’s underlying fund’s top 10 holdings (as of 2025/06/30)
SHD’s underlying fund’s top 10 holdings (as of 2025/06/30)
US
· Powell highlighted labour market concerns which bolstered expectations for a 25bp rate cut this month, even though US shutdown clouds economic visibility. $S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $Invesco QQQ(QQQ)$
Source: CSOP, Bloomberg, HSBC, as of 2025/10/14, unless otherwise stated.
Disclaimer
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.
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Index Provider Disclaimer
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
The Index Provider of the Underlying Fund is China Securities Index Co., Ltd. (“CSIC”). The Index Provider is not related to the Underlying Fund Manager. An index licensing agreement was signed between CSIC and the Underlying Fund Manager. CSIC has authorized the Underlying Fund Manager to use the CSI STAR & CHINEXT 50 Index for various purposes as stated in and subject to the conditions of the index licensing agreement entered into between CSIC and the Underlying Fund Manager, including using the CSI STAR & CHINEXT 50 Index as the performance benchmark for the Underlying Fund. The Underlying Fund is not in any way sponsored, endorsed, sold, or promoted by CSIC and CSIC makes no warranty or representation whatsoever, expressly, or impliedly, either as to the results to be obtained from the use of the CSI STAR & CHINEXT 50 Index and/or the figure at which the CSI STAR & CHINEXT 50 Index stands at any particular time on any particular day or otherwise. The CSI STAR & CHINEXT 50 Index is administered, calculated, and published by CSIC. CSIC shall not be liable (whether in negligence or otherwise) to any person for any error in the Underlying Fund and the CSI STAR & CHINEXT 50 Index and shall not be under any obligation to advise any person of any error therein.
SQQ/SQU
The CSOP iEdge Southeast Asia+ TECH Index ETF is not in any way sponsored, endorsed, sold, or promoted by Singapore Exchange Limited and/or its affiliates (collectively, “SGX”) and SGX makes no warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Index and/or the figure at which the Index stand at any particular time on any particular day or otherwise. The Index is administered, calculated, and published by SGX. SGX shall not be liable (whether in negligence or otherwise) to any person for any error in the CSOP iEdge Southeast Asia+ TECH Index ETF and the Index and shall not be under any obligation to advise any person of any error therein.
“SGX” is a trademark of SGX and is used by the Manager under license. All intellectual property rights in the Index vest in SGX.
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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