To The Moon

East Asia

【 $CSOP SEA TECH ETF S$(SQQ.SI)$ $CSOP SEA TECH ETF US$(SQU.SI)$ 】YTD Return: +30.60%

• Sea Ltd's stock outperformed in 2H, rising 59% from mid-year to 29 Nov due to strong 3Q revenue and earnings, easing concerns over margin pressure from increased competition in Southeast Asia.

• Amid potentially higher US tariffs on Chinese goods, this may benefit e-commerce in Southeast Asia.

• JPM notes that since 2019, ASEAN's TMT sectors have consistently provided appealing trading opportunities, with at least one stock surpassing MSCI EM by 30pp annually, with Sea Ltd and Grab leading in 2024. Looking into 2025, the main catalysts for Sea and Grab's stock prices will be network effects contributing to material earnings growth.

【 $CSOP LOW CARBON US$(LCU.SI)$ $CSOP LOW CARBON S$(LCS.SI)$ 】YTD Return: +15.15%

• Asian markets started the week negatively, impacted by South Korea's political issues.

• However, following China's announcement of plans for greater monetary and fiscal support to stimulate the economy in 2025, Asian stocks in China, Japan, Hong Kong and South Korea in the ETF were driven higher.

China

【 $CSOP Star&Chinext50 S$(SCY.SI)$ 】YTD Return: +13.91%【 $CSOP DIV ETF S$(SHD.SI)$ 】YTD Return: +14.48%

• China's politburo plans a "moderately loose" monetary policy for 2025, the first significant shift since 2021, and also promised a "more proactive" fiscal approach to stabilise property and stock markets and "forcefully lift consumption".As a result, China stocks saw a rally.

• Focus is now on China's Central Economic Work Conference later this week.

US

• Trump assured he will not replace Fed Chair Powell, despite potential conflicts with the US central bank.

• Despite warnings, markets predict an 80% chance of a Fed cut in December.

Source: CSOP and Bloomberg as of 20241210

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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.