CSOP ETFs Weekly Performance Recap-20241108
•Last week, LCU (+2.66% in USD), SQU (+3.01% USD) and SCY (+4.89% in SGD) gained while SRT (-3.38% in SGD) and SHD (-0.66% in SGD) fell. This happened amidst the backdrop of Trump winning the US presidency election as well as a 25bps Fed rate cut.
• $CSOP LOW CARBON US$(LCU.SI)$ ’s rise is attributable to financials, IT and consumer discretionary by sectors and Japan, China and Australia by region. By individual firms, gains were led by TSMC, $Toyota Motor (7203.JP)$ and $Mitsubishi UFJ Financial Group (MUFG.US)$ . $Taiwan Semiconductor (TSM.US)$ gained after a top executive from TSMC said the value of Taiwan’s semiconductor output is projected to rise 22% to >$164 billion this year, driven by AI and robust economic growth. Toyota gained after it reported solid profits excluding one-offs and operations are set for a recovery. Additionally, it raised its dividend per share guidance.
• $CSOP SEA TECH ETF US$(SQU.SI)$ ’s gains can be attributable to Delta Electronics, $Grab Holdings (GRAB.US)$ and $Wipro (WIT.US)$ . According to Maybank Securities, Delta Electronics could gain from potential customer redirection from its parent company in Taiwan.
• $CSOP S-REITs INDEX ETF(SRT.SI)$ ’s losses are led by industrial, retail and data centre by subsectors, and KDCREIT, MINT and FLT by individual REITs. Trump 2.0 incited risk of higher bond yields, which poses as a downside risk for SREITs.
Source: Bloomberg, as of 20241108
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