【Money Market Fund】
US$ MMF Net 7-day Yield: +3.70%*
Over the course of the last week, US Treasury yields retraced to new highs on Wednesday following a firm CPI report, but reversed lower as AI equity valuation concerns and Fed officials' commentary tempered rate-hike expectations. Warsh said on Friday that “the world has broadly conformed to our expectations” since the last FOMC meeting in September.
Looking ahead, pre-October FOMC blackout period begins, limiting policymaker commentary, while data calendar is also relatively light. As of Friday, markets largely priced in a hold in October and a 25bp hike in December.
* 7-day net yield is calculated based on calendar days and NAVs in 5-decimal.
【REITs】
S$ SRT YTD total return: -10.41%
As of 16 Oct 2026, $CSOP iEdge SREIT ETF S$(SRT.SI)$ declined 1.62% WTD, bringing its YTD total return to -10.41%. WTD losses were led by data centre, office and retail by subsector, and KDCREIT, MPACT and KREIT by individual REIT.
On the macro data front, Singapore’s Q3 GDP grew by 5.4% YoY, higher than the 5.1% YoY Bloomberg consensus estimate, though moderating from 6.2% YoY in the previous quarter. Meanwhile, Singapore’s non-oil domestic exports (NODX) rose 68.4% YoY in September, extending from August’s 46.1% YoY expansion. NODX was led by non-electronics shipments. Electronics shipments continued to rise amid strong AI-driven demand, which economists said will continue in the near term.
【Fixed Income】
CYC YTD NAV: +2.64% in CNY; +7.27% in USD^
China rates moved lower with a flattening bias as higher producer prices showed little pass-through to core inflation. Meanwhile, RMB550bn of additional local-government bond quota was allocated. On the FX front, RMB was trading below 6.69 on Friday. $ICBC CSOP CGB ETF S$(CYC.SI)$
^ CYC/CYB/CYX USD NAV is converted based on benchmark FX, subject to rounding error.
【Equities】
Regional Equity ETFs
US$ LCU YTD return: +18.76%
$CSOP APAC SELECT US$(LCU.SI)$ declined 4.49% WTD in USD, bringing its YTD return to +18.76%.
WTD losses were led by IT, communication services and industrial by sector, South Korea, Taiwan and Japan by region, SK Hynix, Samsung Electronics and TSMC by individual firm.
During the week, stocks were impacted by rising oil prices and growing concerns over tech firms’ borrowing levels for the AI buildout. Moreover, chipmakers like SK Hynix and Samsung Electronics came under pressure from rising Chinese competition and speculation about when the memory market could become oversupplied. CXMT announced plans to roll out a new server-memory product, which led to worries that it could take global market share from the memory incumbents.
US$ SQU YTD return:-21.95%
$CSOP SEA TECH ETF US$(SQU.SI)$ declined 1.79% WTD in USD, bringing its YTD return to -21.95%.
WTD losses were led by Astra International, Grab and Delta Electronics Thailand.
A-Share Equity ETFs
S$ SHD YTD return: +13.62%; S$ SCY YTD return: -1.89%; S$ CSA500 YTD return#: -9.01%
Chinese equities had been hit by the unravelling of the AI enthusiasm. Following market weakness and volatility, China stepped up measures to stabilize its stock market, including encouraging firms and state funds to buyback shares, guiding some investors to curb selling, and increasing purchases by state-linked “national team”. $CSOP DIV ETF S$(SHD.SI)$
# Data begins from CSA500 SP Equity’s inception date of 2026/01/20.
Source: CSOP, Bloomberg, JPM, HSBC, as of 2026/10/16, except where otherwise stated.
SCY’s underlying fund’s top 10 holdings (as of 2026/06/30)
SHD’s underlying fund’s top 10 holdings (as of 2026/06/30)
CSA500’s underlying fund’s top 10 holdings (as of 2026/06/30)
Disclaimers:
All information and data presented are based on the latest available weekly performance data at the time of preparation, unless stated otherwise.
The investment product(s), as mentioned in this document, is/are registered under section 286 of the Securities and Futures Act (Cap. 289) of Singapore (the “SFA”). This material and the information contained in this material shall not be regarded as an offer or solicitation of business in any jurisdiction to any person to whom it is unlawful to offer or solicit business in such jurisdictions.
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Index provider disclaimers:
SRT & SQQ
The CSOP iEdge S-REIT Leaders Index ETF and CSOP iEdge Southeast Asia+ TECH Index ETF (collectively, the “ETFs”) 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 iEdge S-REIT Leaders Index and/or iEdge Southeast Asia+ TECH Index (collectively, the “Index”) and/or the figure at which the Index stand at any particular time on any particular day or otherwise. The Index are administered, calculated and published by SGX. SGX shall not be liable (whether in negligence or otherwise) to any person for any error in the ETFs 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 CSOP under license. All intellectual property rights in the index vest in SGX.
CYC/CYB & LCU
The ICBC CSOP FTSE Chinese Government Bond Index ETF (the “ETF”) and CSOP FTSE Asia Pacific Select Index 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 Chinese Government Bond Index & FTSE Asia Pacific Select Index (collectively, the “Index”) vest in the relevant LSE Group company which owns the Index. FTSE® is a trade mark of the relevant LSE Group company which own the Index 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 does not accept any liability whatsoever to any person arising out of the use of the ETF or the underlying data. 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.
SHD & CSA500 & SCY
All rights in the 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. The Index Provider is not related to the Underlying Fund Manager. An index licensing agreement was signed between CSI and the Underlying Fund Manager.
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