DBS, OCBC, UOB Hit Record Highs, HSTECH Jumps 5% as Alibaba, Xiaomi, Kuaishou Rally
Singapore banks and Hong Kong technology stocks stole the spotlight on Wednesday, 8 July, with DBS, OCBC, and UOB all hitting fresh records.
UOB led the banks with a 3.93% jump, driving its 5x Long DLC up 19.6% and the 5x Short DLC down a similar magnitude. OCBC and DBS also climbed 1.71% and 0.67%, lifting their 5x Long DLCs by 8.5% and 3.3% respectively.
In Hong Kong, $BABA-W(09988)$ surged 12.2%, lifting the Alibaba 5x Long DLC by 61%, while the Alibaba 5x Short DLC fell by a similar magnitude.
Xiaomi and Kuaishou also rallied 9.5% and 8.7%, boosted by reports of Chinese firms accelerating plans to develop their own AI chips.
The rally powered the $HSTECH(HSTECH)$ Index nearly 5% higher — its strongest percentage gain in over a year — bringing it close to its 50-day moving average. A sustained break above this level could point to further upside momentum for the index.
Amplifying the move, the HSTECH 7x Long gained close to 35% while the HSTECH -7x Short declined by a similar magnitude.
Investors looking to ride further momentum can consider Long DLCs offering up to 7x leveraged exposure across Singapore, Hong Kong and US markets.
Those expecting a pullback may consider Short DLCs for up to -7x inverse exposure.
See the full list of DLCs on dlc.socgen.com.
This advertisement has not been reviewed by the Monetary Authority of Singapore. This advertisement is distributed by Société Générale, Singapore Branch. This advertisement does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.
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