Commentary
2020-01-24
追Call{美團18175購}} 小米博反彈18180購

受累武漢疫情進一步擴散,港股周四最多跌逾600點至27706點,收跌431點至27909點,力保250天線。人民幣回落至6.93,拖累內地股市下挫。上證綜合指數跌穿3000點關口。如看淡可留意恆指熊證50433,收回價2881822倍,換股比率10000:1如看好可留意恒指牛證67678,收回價27545,槓桿73倍,換股比率10000:1。

 美團(03690)股價上日跟隨大市下跌,失守多條平均線,低見98.65元,分別有不少資金流入其好淡倉,惟趁低吸納的投資者佔多數,主要以認購證部署。有4429萬流入美團認購證,同時有1134萬流入其沽證。如博反彈可留意美團購證18175,行使價130元,實際槓桿9.6倍,5月26日到期。如看淡留意貼價美團沽證13857,行使價98.28元,實際槓桿7.4倍,4月20日到期。

另外,資金亦分別流入小米(01810)及騰訊(00700)好倉博反彈,分別有517萬元及551萬元。投資者如看好可留意以下輪證部署:

小米購證18180使5.26

小米牛證5034211.926.910:1

騰訊購證18182使9.37

騰訊牛證65501使345.89100:1

The information on this material is provided and published by Haitong International Securities Company Limited (“HTI”), a corporation holding licences for Type 1 (dealing in securities) and Type 4 (advising in securities) regulated activities pursuant to the Securities and Futures Ordinance (Cap. 571). The contents of this material has not been reviewed or approved by the Securities and Futures Commission. Any and all information provided on this material is for reference only and does not constitute an offer, a solicitation of an offer or any advice or recommendation to buy or sell any financial products. The prices of structured products such as Warrants and/or CBBCs may fluctuate greatly and past performance is not indicative of future performance. The value of structured products may become zero on or before the expiry date and investors may sustain a total loss of investment. CBBCs have a mandatory call feature and are subject to early termination, upon which (i) investors in category N CBBCs will lose all their investments in CBBCs; and (ii) the residual value of category R CCBCs may be zero. Structured products issued by HTI or its affiliate are uncollateralised and investors are relying on the issuer’s credit worthiness in determining the issuer’s ability to meet its obligations under the structured products. If the Issuer is insolvent or defaults in payment, investors may not recover part or all of the amount due. An investor should read carefully the relevant listing documents (and any documents appendix thereto) and the relevant supplemental listing document to understand the full details of the warrant and/or CBBC (including risk factors), and due consideration have been given having considered the nature and risks involved in investing in these products, to decide whether the investment is suitable for an investor’s individual circumstances and, if necessary, an investor should consult their professional advisers. HTI is also the liquidity provider for the warrants and/or CBBCs (“Structured Products”) referred to in the material . HTI may be the only person quoting prices (or market making) for the Structured Products on the exchange. As such, the secondary market for the Structured Products may be limited. HTI (together with its subsidiaries and affiliates, “HTI Group”) provides the information in good faith and has used its best endeavours to ensure that the information provided is accurate and complete. HTI Group however does not represent or warrant the completeness or accuracy of the information and HTI Group. Haitong International Securities Company Limited may make a market in the securities and/ or the derivatives on these securities herein covered. Haitong International Securities Company Limited and/or its group company(ies) may have presently, or have had within the last 12 months, an investment banking relationship with the underlying entity of the securities herein covered. Haitong International Securities Company Limited is a member of Haitong International Securities Group which in turn belongs to group of companies of Haitong Securities Co., Ltd. HTISG and our affiliates, officers, directors, and employees, excluding the analysts responsible for the content of this document, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this document. Haitong International Securities Company Limited and/or its group company(ies) and its affiliates, officers, directors, and employees, excluding the analysts responsible for the content of this document, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this document.