East Asia  $CSOP LOW CARBON US$(LCU.SI)$WTD return: +1.39% Overall, Asian stocks gained WTD after an Israel-Iran ceasefire eased Middle East tensions. LCU WTD gains in USD were attributable to financials, IT, and communication services by sector, Japan, China and Australia by region, and Commonwealth Bank of Australia, Xiaomi and SK Hynix by individual firm.   $CSOP SEA TECH ETF US$(SQU.SI)$WTD return: +0.76% SQU gained WTD in USD and that was led by Delta Electronics, Grab and Infosys. Infosys gained after Jefferies rated Infosys a buy for its forward-thinking AI strategy and delivery excellence.  China  $CSOP DIV ETF S$(SHD.SI)$ WTD re

Over the past week, a series of secondary economic releases were scheduled, most of which reported lower-than-expected results compared to the market consensus. Despite this, treasury bond yields experienced a significant increase throughout the week, primarily driven by short-duration bonds. This surge can be attributed to a reversal in the sharp rally observed following the recent CPI report and Federal Reserve minutes released on May 22. This fluctuation may persist in the bond market in the near term. That being said, short-term maturities are nearing their recent peaks following the sell-off, presenting an appealing opportunity for a tactical bullish perspective. Thus, we expect CSOPUMM to continue to deliver stable yield in the near term. As of 20240524, the fund has gross yield of 5

【SRT】 SRT’s declines during the week were led by retail, data centre and health care subsectors and FCT, KDCREIT and CICT by individual REITs. According to The Business Times, investors need not fear dilutive equity raisings as they could drive acquisition-led growth. Besides that, with rates falling as evident from low-risk Singapore T-bill yields falling (most recently, 6-month T-bill issued on 13th May 2025 fell to 2.3%), yield-driven investors have to look to yield alternatives like S-REITs.   $CSOP S-REITs INDEX ETF(SRT.SI)$ 2025 WTD Total Return: -0.56% 【MMF】 April’s CPI print showed weaker-than-expected headline and core inflation, and the market reacted positively. However, over the week, UST yields rose, and US nominals cheapened a

· The August CPI and PPI data suggest that the Fed's preferred inflation gauge, the core PCE deflator, will likely remain steady at 0.16% when it is released on Sep 27. This could prompt officials to start cutting rates this month. However, without a clear signal from the Fed for a significant rate cut, a 25-bp move in September is more likely. · The core PCE deflator for Aug is estimated to be 0.16%, consistent with the monthly pace required for inflation to return to the Fed's 2% target. The core PCE likely rose to 2.7% in Aug on a yoy basis. Fed Chair Jerome Powell’s favored “supercore” inflation measure likely rose 0.2% in Aug. T · The biggest drag on August core PCE will likely come from other durable and nondurable goods, recreation goods and services, and financial services. However

【SRT】 As of 28 Nov 2025 (Fri), $CSOP iEdge SREIT ETF S$(SRT.SI)$ was slightly up at 1.93% WTD in SGD, and rose 14.56% YTD in SGD. SRT’s WTD gains was primarily attributable to industrial, retail and office by subsector and FLT, MLT and MINT by individual REIT. FLT rose after its target price was raised by UOB Kay Hian, with a buy rating maintained. UOB Kay Hian expects rising occupancies to support higher DPU. In other positive news for the sector, Fitch analysts say that S-REITs are likely to speed up asset acquisitions, divestments and enhancements as borrowing costs moderate. REITs’ cap rates can potentially compress amid increasing demand, thereby lifting valuations. S$ SRT 2025 YTD Total Return: +14.56% 【MMF】 Following mixed policy signals

【SRT】 Last week, SRT gained amidst the revived risk sentiment, though uncertainties linger. Gains were led by industrial, office and retail by subsector and MLT, FLT and MINT by individual REITs. UBS notes Singapore’s recession risks have eased. UBS favors defensive S-REITs with stable leases and long-term rental income visibility, which buffer economic shocks. $CSOP S-REITs INDEX ETF(SRT.SI)$ WTD Total Return: +4.94% 【MMF】 Last week, after US Treasuries stabilized after the past volatile weeks as the pace of tariff announcements slowed. Short-term risks to yields will probably be double-sided given that a few FOMC members emphasized inflation expectations as a key input to short-term policy direction. Fed Governor Christopher Waller has highlig

 East Asia  $CSOP LOW CARBON US$(LCU.SI)$ LCU WTD return: +0.33% Overall, Asian stocks gained WTD, recovering from losses late last week though markets wavered amidst risks from trade disputes, potential new US tariffs as well as escalating Middle East geopolitical tensions. LCU WTD gains in USD were attributable to IT, communication services and consumer discretionary by sector, Japan, China and Taiwan by geography, and TSMC, Advantest Corp and Alibaba Group. TSMC (foundry) and Advantest (testers) gained alongside other Asian semiconductor stocks as Ai-related trade momentum builds. $CSOP SEA TECH ETF US$(SQU.SI)$ WTD return: +0.75% SQU gained WTD in USD and that was led by Grab, Sea and W

Performance King With a 31% price return, $CSOP SEA TECH ETF S$(SQQ.SI)$ / $CSOP SEA TECH ETF US$(SQU.SI)$ becomes the best ETF performer in 2024 YTD(NOV) at SGX[1]. SQQ/SQU has also garnered significant attention from investors in China. As of Decmber 4th, the total NAV of CSOP iEdge Southeast Asia + Technology Index ETF reached 240 million USD.[2] CSOP iEdge Southeast Asia + Technology Index ETF is the first ETF in Singapore to provide investment opportunities in the technology industry in Southeast Asia and India. By investing in this ETF, investors can take advantage of the huge growth potential of emerging markets in Asia and diversify their portfolios by investing in the dynamic technology sect

•Last week, $CSOP LOW CARBON US$(LCU.SI)$ LCU (+2.73% in USD), $CSOP SEA TECH ETF US$(SQU.SI)$ SQU (+0.87% in USD), $CSOP DIV ETF S$(SHD.SI)$ SHD (+1.03% in SGD) and $CSOP Star&Chinext50 S$(SCY.SI)$ SCY (+4.43% in SGD) gained while $CSOP S-REITs INDEX ETF(SRT.SI)$ SRT (-0.69% in SGD) fell slightly amidst a backdrop of a dovish FOMC statement post FOMC meeting where rates were held constant. •LCU’s gains were primarily attributable to industrials, financials and consumer discretionary by sectors and Japan and China by country. By individual firms, gains were due to

Weekly Performance Checkpoint 【SRT】 SRT’s losses were led by industrial, office and retail subsectors, as well as CICT, FLT and CLINT by individual REITs. FLT fell after being cut to underweight at JPM. 【MMF】 Swap market pricing less than 50% chance of a Fed rate cut in December. We expect CSOPUMM to continue to deliver stable yield in the near term. As of 20241122, the fund has net yield at 4.69%. ^ Source: CSOP, Bloomberg, JP Morgan as of 20241122. ^ 7-day net yield is calculated based on calendar days and NAVs in 5-decimal. 【CN】 Last week, CGB price was gained slightly in CNY but fell slightly in USD terms. YTD as of 20241121, the CYC/CYB rose +5.45% in CNY and gained +3.29% in USD*. Source: CSOP, FTSE Russell, Bloomberg as of 20241121. * CYC/CYB/CYX USD NAV is converted based on benchm

【SRT】 Gains over the week was led by industrial, office and retail by subsector, and Suntec REIT, FLT, and KREIT by individual REIT. Suntec REIT gained after it reported resilient 1H performance with 1H DPU gaining 3.7% due to strong operating performance and lower financing costs. $CSOP iEdge SREIT ETF S$(SRT.SI)$ 2025 WTD Total Return: +1.49% 【MMF】 This week, headlines surrounding Fed Chair Powell’s future at the central bank. Secretary Bessent had said that there was “nothing that tells” him that Powell should step down now. Secretary Bessent has also called for a review of the Fed’s non-monetary policy functions. On the data front, initial jobless claims had fallen to 217k (consensus: 226k), signaling labor resilience. Flash July PMI diverge

•Last week, LCU (+2.01% in USD), SQU (+3.15% in USD), SRT (+7.10% in SGD) and $CSOP Star&Chinext50 S$(SCY.SI)$ (+1.96% in SGD) gained, while $CSOP DIV ETF S$(SHD.SI)$ (-1.32% in SGD) fell. • $CSOP LOW CARBON US$(LCU.SI)$ gains can be attributable to IT, consumer discretionary and financials by sectors. By geography, gains were led by Japan, Taiwan and China. In terms of individual firms, gains were mainly driven by TSMC, Sony Group and Tokyo Electron. $Taiwan Semiconductor Manufacturing(TSM)$ gained as it reported its fastest sales growth since 2022 in Q2. Sony Group rose amidst a backdrop of Sony Music Entert

East Asia 【 $CSOP LOW CARBON US$(LCU.SI)$ 】YTD Return: +11.89% • Samsung Electronics' shares rose up to 3% on 2024/11/25, reaching a high since Nov. 8, after Nvidia's CEO confirmed that they are fast-tracking the certification of Samsung's AI memory chips. • The impending additional 10% tariffs on Chinese goods by the US could impact Chinese equities. 【 $CSOP SEA TECH ETF S$(SQQ.SI)$ 】YTD Return: +28.23% • Loop Capital has raised Sea Ltd's price target to $135, citing significant improvements in its e-commerce and gaming sectors. • Sea Ltd is to benefit from its strong year-on-year in-app purchase revenue growth in October, and the positive outlook following the Asia Internet Conference as mentioned b

$CSOP SEA TECH ETF S$(SQQ.SI)$  Did you know that global industrial relocation is shifting to Southeast Asia now? Also, the digital economy in Southeast Asia is developing rapidly, benefitting from a booming middle class. CSOP is launching a new ETF in Singapore, presenting an exciting opportunity for investors to participate in the rapid growth of the digital economy in Southeast Asia and India! We believe this product offers unique strengths in the SG capital market. Take some time to go through the long poster, and you will know why you should invest in the CSOP iEdge Southeast Asia+ Tech Index ETF! Don't miss out on this chance to capture the opportunities in the thriving SEA tech sector! Source: CSOP Important Information The investmen