To The Moon

East Asia

【$CSOP SEA TECH ETF S$(SQQ.SI)$ 】YTD Return: +27.82%

• Morgan Stanley predicts $Sea Ltd(SE)$ 's profitability to continue till 2025, driven by Shopee's ASEAN ecommerce dominance and potential for ~30% EBITDA CAGR over five years.

• In a monthly update, Goldman Sachs has added Delta Electronics to its APAC conviction list. 

【 $CSOP LOW CARBON US$(LCU.SI)$ 】YTD Return: +16.04%

• Asian semiconductor stocks including TSMC rose after Biden administration impose newer, but less severe than anticipated restrictions on tech exports to China. 

• Yesterday night, South Korean President Yoon Suk Yeol's unexpected declaration and subsequent retraction of martial law, caught global markets off guard. 

China

【$CSOP Star&Chinext50 S$(SCY.SI)$ 】YTD Return: +13.52%【 $CSOP DIV ETF S$(SHD.SI)$ 】YTD Return: +12.17%

• In November, the central bank injected 800 billion yuan into the money market through reverse repurchase agreements, helping to fill liquidity as government bonds accelerated issuance. 

• Latest official manufacturing PMI is higher than expected, with factory activity continuing to expand. 

• PBOC will include personal current deposits in the M1 statistical caliber starting from the statistics of January 2025.

• Pan Gongsheng, the governor of the PBOC, said that next year, it will continue to adhere to a supportive monetary policy stance and policy orientation. 

• The China Semiconductor Industry Association reports that US restrictions on Chinese chips have disrupted supply chains and compromised their reliability, leading to a rise in Chinese chip stocks like SMIC.

• Meanwhile, China's National Medical Products Administration (NMPA) has approved Shenzhen Mindray Bio-Medical Electronics' innovative ultrasound diagnostic system, the first in China to combine ultrasound and photoacoustic imaging technology.

US

• President Donald Trump has cautioned BRICS countries against creating a new currency or favoring another to replace the US dollar in global trade, threatening to impose 100% tariffs on their goods if they do not comply.

• S&P 500 has hit record highs this year. 

Source: CSOP and Bloomberg as of 20241203

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Index Provider Disclaimer

LCU

The CSOP CGS-CIMB 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.