Hong Kong tech stocks opened broadly higher on Monday (13 July), extending last week’s rally.
Among DLC-covered underlyings, $BABA-W(09988)$ gained around 0.9%, lifting the Alibaba 5x Long DLC by 4.5%, while the Alibaba 5x Short DLC declined by a similar magnitude.
Alibaba has gained approximately 15% over three consecutive sessions since the 7 July close, driving an 81% surge in the $Alibaba 5xLongSG270712(ZVNW.SI)$ .
The broader rally initially lifted the $HSTECH(HSTECH)$ by 1.6% in early trading, before it pared gains to end the morning session down -0.81%.
Correspondingly, the $HSTECH 7xShortSG270309(9B2W.SI)$ advanced 5.6%, while the $HSTECH 7xLongSG271216(SYHW.SI)$ fell by a similar magnitude.
Before today's session, HSTECH had gained about 4.8% over Alibaba's 3-day winning streak. Over the same period, its 7x Long DLC has risen about 33%, while the 7x Short DLC fell about the same magnitude.
Notably, HSTECH had earlier crossed above its 50-day moving average and was approaching its 100-day moving average. A sustained break above the latter could strengthen the bullish setup, while a rejection may signal near-term consolidation or a pullback.
Investors expecting further upside may consider Long DLCs for leveraged exposure, while those anticipating a reversal may look to Short DLCs to position for potential declines.
See the full list of DLCs on dlc.socgen.com
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