To The Moon

•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 Entertainment’s animation unit Aniplex and game developer Pocketpair establishing a new joint venture called Palworld Entertainment.

• $CSOP SEA TECH ETF US$(SQU.SI)$ gains are predominantly due to Delta Electronics, Venture Corp and Sea Ltd. Delta Electronics gained because it was raised to buy by UOB Kay Hian and hold by CGS International. CGS International mentioned that Delta stands to benefit amidst rising cloud usage and AI training, which would increase the demands for power and cooling in data centers and servers. Sea Ltd’s share price increased following news that its shares, among the 13 Asian e-commerce companies tracked by Bloomberg Intelligence, have seen the highest increase of 77% year-to-date as of July 3.

• $CSOP S-REITs INDEX ETF(SRT.SI)$ gained due to industrial, office and data center REITs. By individual REITs, losses were because of KDCREIT, FLT, and MPACT. KDCREIT rose on the back of its maiden buy of a Tokyo data center giving access to Asia’s second biggest data centre hub, and possibly be 1.1% DPU accretive.

Source: Bloomberg, as of 20240712. Past performance is not indicative of future performance.

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