Macquarie Warrants Singapore

Will Beijing pivot like 2024?

The Hang Seng Index remains a notable underperformer in Asian this month, declining 7.3% month-to-date, a stark contrast to the positive returns in the Nikkei225, Straits Times Index and TAIEX Index

The market has been dragged lower by the H-shares which according to Bloomberg, entered into bear market territory yesterday after falling 20% from its October 2025 peak, weighed down by Tencent and Alibaba

Chinese tech shares are also seeing renewed pressure on e-commerce names from the regulators
The 6.18 shopping festival was reportedly the quietest in its history, with online sales slowing to just 4% (CNBC), compounding longstanding concerns about the muted consumer activity in China

Macquarie Sales and Trading’s (S&T) released a note yesterday on 23 June 2026 addressing the question on whether the Chinese government would pivot and step in to boost consumption like they did in 2024

Read on for important disclaimers: https://macq.co/6183BDenz9

Top mover alert: Alibaba - trades below HK$100 for the first time in 14 months

⚠Alibaba shares are trading 3.9% lower to HKD 98.90 as of 231PM today, breaking below the psychological HKD 100 level and trading to its lowest price level since 9 April 2025

While today's move is partly sector-driven, with tech shares seeing a global rout given overvaluation concerns, Alibaba is nevertheless a standout underperformer versus its China tech peers

📉Today's sell-down takes its one month performance to -18%, compared to the Hang Seng Tech's 9.9% one-month loss, as the company is weighed down by company-specific developments

Earlier this month on 8 June, the US Pentagon designated the company as a "Chinese military company"

Later on 11 June, Beijing's market regulator chastised leading e-commerce platforms including Alibaba for misleading promotions for its 618 campaign

There was also market chatter this month on whether Alibaba would lose out to Huawei to win government-backed data center projects, and concerns regarding pricing pressure on Alibaba's AI tokens which would erode the company's cloud margin outlook

👨‍🏫We previously shared SGX Academy Trainer Dan Chang's technical views (https://macq.co/6188BDbeMy) on Alibaba shares, where he said that the HKD 100 support would be retested

Investors who believe that Alibaba may see a dead-cat rebound toward the HKD 100 level may wish to consider trending Alibaba call warrant ETKW (https://macq.co/6189BDbeMJ) which will move approximately 6.3 times more than Alibaba shares based on its effective gearing level. As an example, the warrant is down 23.8% to SGD 0.016 as of 245PM given Alibaba's 3.7% fall

Those who believe that Alibaba may sink further from here can consider trending Alibaba put warrant JCJW (https://macq.co/6188BDbeRr) which moves approximately 3.4 times more than Alibaba shares based on its current effective gearing level
The warrant is up 15.3% to SGD 0.083 as of 245PM

Geely - was yesterday's 6% sell-off overdone?

🚨Yesterday, Geely closed 6.1% lower to HKD 17.45 to finish as the Hang Seng Index's worst performer

While there was no specific news on the company, Bloomberg believes that the Geely sell-off may have been part of portfolio managers' rotation out of non-AI names such as Geely and into AI-linked names in Korea, Japan and Taiwan

📢Last week on 13 June, Geely announced plans to shut down or merge redundant entities and concentrate resources around the HK-listed arm. While framed positively, the announcement may have raised near-term ex*****on uncertainty (Bloomberg)

🚙During Geely's investor day on 9 June, the company demonstrated the improving autonomous driving capabilities in their EVs, introduced their Super EVA in-car AI agent driven in-car experience, and said that the activation rate for their Advanced Driver Assistance System (ADAS) was more than 80%

Specifically for Geely’s in-house ADAS, analysts are expecting its development to support future cost reductions and help the company maintain above-industry-average performance

On the back of yesterday's share price sell-off, Bloomberg reported that an analyst upgraded the stock yesterday with a HKD 27 price target - which may suggest that the sell-off was perceived as overdone by at least one analyst

Macquarie's trending Geely put warrant 93ZW (https://macq.co/6181BDbpZZ) rose 22.4% to SGD 0.071 yesterday on Geely's 6.1% fall, while trending call warrant IMOW (https://macq.co/6182BDbpZw) fell 30% to SGD 0.028

Investors keen to participate in the share price volatility of Geely shares may consider using either the trending call or put warrant to gain magnified exposure to the share price in Singapore dollars

$150 cash rewards for those trading warrants with Phillip Securities!

Do you know, we have an ongoing rebate to offer a $150 cash rebate* for warrant investors who buy a total $150,000 worth of warrants during the campaign period of 18th May-31st July 2026, with Phillip Securities.

Find out more about the promotion here: https://macq.co/6186BD3Yli

*Terms and conditions apply. The cash reward is sponsored by Macquarie Warrants Singapore.

Today's newly listed warrants tracking HSI, Alibaba, BYD, PetroChina and Xiaomi!

See how the warrants move alongside their respective underlyings on the Live matrix tool!

- HSI 26400 Cal OWWW: https://macq.co/6181BDKi59
- HSI 27200 Call HGDW: https://macq.co/6183BDKi5c
- HSI 22200 Put MVAW: https://macq.co/6184BDKi5Y
- Alibaba Call ETKW: https://macq.co/6185BDKi5l
- BYD Call OPCW: https://macq.co/6186BDKi5m
- PetroChina Call PLMW: https://macq.co/6187BDKi5W
- Xiaomi Call MCEW: https://macq.co/6188BDKi5o

📅 Rollover reminder: SP500 and NDX warrants to track Sep 2026 futures starting tomorrow

🕘Macquarie’s index warrants track the underlying index futures. In this case, our S&P500 and Nasdaq-100 warrants track their respective futures contracts during the Singapore trading hours of 9AM to 458pm

🗓As we near the index futures’ expiry, our US index warrants will start tracking the Sep 2026 S&P500/Nasdaq-100 futures contracts starting tomorrow. See how the warrants move alongside their respective futures contracts by referring to their Live Matrices: https://macq.co/6184BDy1oe

Do warrants with higher trading volume have better liquidity?

• There’s a common misconception among investors that only structured warrants with high trading volumes are liquid

• Although higher trading volumes for shares and other listed securities generally mean that such securities are more liquid, this does not always apply for warrants due to the existence of a market maker

• A warrant with low trading volume can have high liquidity and vice versa

• Read on to find out more here: https://macq.co/6183BDHY2P

❗Newly listed warrants tracking Nio Singapore, Keppel and Yangzijiang!

See how the warrants move alongside their respective underlyings on the Live matrix tool!

Nio Call HXQW: https://macq.co/6187BDEwWX

Keppel Call 94BW: https://macq.co/6188BDEwWk

Yangzijiang Call V3DW: https://macq.co/6180BDEwWw

Nio: Nio has undergone massive volatility in the month of June, with a13.4% rally on 2 Jun, before the addition of Nio to the US Defense Department’s "Chinese Military Companies” (CMC) list announced on 9 Jun wiped out all of this rally last week.

Yangzijiang: the best performer over the past one year amongst the three (with a 58.4% return), but has corrected sharply from its 52-week high of SGD 4.62 (3 March 2026), now trading -25.8% below that level. The near-term weakness reflects margin concerns on new small-to-mid-size vessel orders, though analysts broadly view the pullback as a buying opportunity given the underlying order book strength, according to Bloomberg AskB

Keppel: the stock's one year performance is similar to Yangzijiang (+56% as of 11 Jun), and has also similarly pulled back around 10% from its Feb 2026 peak of $13.13. The news of the collapse in Keppel's planned SGD 1.4 billion divestment of M1to Simba Telecom on 21 May 2026 may have served as a near-term overhang on the stock.

❗Rate decisions in Japan, US this week, plus key Chinese activity data due tomorrow

• All eyes will be on this week's rate decisions, starting with the Bank of Japan (BOJ) tomorrow morning

• Tues: the BOJ is expected to hike policy rate by 25 basis points to 1.00%. Comments from Governor Ueda at the late April meeting and in early June indicated that the Policy Board intended to continue its policy normalisation process in the near term, to “avoid falling behind the curve … unless there is a major downturn in the economy” and as long as prices rise “as expected or if upside risks materialize".

• Another factor that may support the BOJ decision to hike is recent comments from PM Takaichi that the BOJ is able to decide monetary policy settings independently, which represents a shift away from prior comments that indicated some opposition to rate hikes.

• The Nikkei225 Index is amongst the top performing index amongst developed markets, with a 31.2% year to date (YTD) return as of 3PM on 12 June, compared to the S&P's +8% YTD gain

• Tues: a series of key activity data in China will be published, starting with the May industrial production - which is expected to rise 4.2% over the previous year (YoY)

• May retail sales is expected to fall 1% YoY in May, the first decline since 4Q2022

• Fixed Asset Investment is estimated to have fallen 2.8% YoY in Jan-May

• Wed night: the FOMC is widely expected to keep the federal funds rate unchanged at the 3.50–3.75% range at next Wednesday’s meeting. Attention and focus will be on the tone of the communication, particularly so as this will be the first meeting with Kevin Warsh in the Chair role

• The statement may shift away from an easing bias toward a more neutral bias, a change that was foreshadowed at the April decision. The updated Summary of Economic Projections may also provide insight with the dot plot potentially shifting in a hawkish direction

• Investors keen to trade any volatility in the US, Japan and China-related Hang Seng Index may consider using the below trending index warrants which will move in greater magnitude than the indices depending on their effective gearing levels:

• Trending S&P call TDRW: https://macq.co/6182BDEwl0
• Trending S&P put IYUW: https://macq.co/6183BDEwlF livematrix /IYUW
• Trending Nasdaq-100 call EFKW: https://macq.co/6184BDEwl2
• Trending Nasdaq-100 put YVJW: https://macq.co/6186BDEwl4
• Trending Nikkei225 call V5PW: https://macq.co/6188BDEwlA
• Trending Nikkei225 put YHSW: https://macq.co/6180BDEwlC
• Trending HSI call VKLW: https://macq.co/6181BDEwlh
• Trending HSI put PNXW: https://macq.co/6182BDEwm6

Singapore Warrants | Trading Stocks and Index Warrants | Macquarie See today's top traded index and single stock structured warrants in Singapore Warrants. Trading tools and stock market updates, all in one place.

Markets rally on SpaceX IPO surge and U.S.-Iran peace optimism

S&P 500: 7,431.46 (+0.5%)
Nasdaq-100: 29,635.95 (+0.6%)
DJIA: 51,202.26 (+1.9%)
Eurostoxx: 6,187.63 (+2.2%)
U.S. crude futures: $84.88 (-3.2%)

U.S. stocks rose on Friday, supported by strong market sentiment following SpaceX’s impressive Nasdaq debut and growing investor optimism over the possibility of a peace agreement between the United States and Iran. The S&P 500 gained 0.5%, while the Dow Jones Industrial Average advanced 0.7% and the Nasdaq-100 climbed 0.6%. SpaceX opened trading at $150per share, significantly above its IPO price of $135. The stock surged more than 20% shortly after the market open and ultimately closed about 19% higher at around $161 per share. Market breadth was also positive, with 10 of the 11S&P 500 sectors finishing the day in positive territory. Healthcare was the only sector to close lower.