27th August 2024 (Tuesday)
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Market Commentary
E-commerce Stocks: Alibaba & JD.com

Following Pindoudou's revenue miss on Monday, rival Chinese e-commerce platfroms Alibaba and JD.com fell around -3.9% and -4.4% respectively at HK market open on Tuesday 27 August.

The results miss raises concerns on the broader slowdown in consumer spending and the uncertain economic environment in China presents further headwinds for such companies that rely heavily on domestic consumption. 

In terms of year-to-date as of 26 August, Alibaba recorded a total return of +12.6%, outperforming the benchmark HSI return of +8.0% while JD.com declined by -3.5%.

JD.com HK-listed share price fell sharply by more than -12% to as low as HKD 98.7 on 21 August last week after news that Walmart had sold 144.5million shares in JD.com. 

Alibaba gave its share price a much needed boost last week after annoucing that conversion to a primary listing on HKEx, which will pave the way for more Chinese investment via the Shanghai-Hong Kong and Shenzhen-Hong Kong stock connect program, will become effective 28 August.

To express their short-term view, investors can gain up to 5x Long and Short exposure on the HK stocks. View the full list of DLCs here. 
DWYW
JD 5xLongSG251113
9618.HK 5x Long
Last Price1
0.076 -0.025
(-24.73%)
Last Update: 27/08/2024 09:59
 
VPYW
JD 5xShortSG250320
9618.HK 5x Short
Last Price1
0.199 +0.041
(+25.88%)
Last Update: 27/08/2024 09:59
Last Price1: The DLC price displayed is based on the 'bid price' instead of the 'traded price'. This is to provide a more accurate representation of the DLC value at each particular point in time and a more accurate reflection of DLC price changes. DLCs do not trade as frequently as shares and sometimes may not record a trade for a long period of time though the bid/offer prices quoted by the Designated Market Maker may continue to move, therefore using the bid price is usually the best indicator of a DLC value.
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Education
How to select the right DLC for your target exposure?

Click here to watch the video

 
DLC Funds Flow Chart
DLC funds flow is calculated by change in DLC outstanding units (positive if there is increase in outstanding units, i.e. investors net bought DLCs from Designated Market Makers) multiplying by the last intrinsic close of the corresponding DLCs, aggregated by Underlying Asset and direction for the selected timeframe.
Last Update: 23/08/2024
 
Top Gainers / Losers
Code Name Bid Change1
(%)
VPYW JD 5xShortSG250320 +0.041
(+25.88%)
KUTW Meituan 5xShortSG250515 +0.146
(+24.79%)
IXJW Alibaba 5xShortSG250320 +0.031
(+24.29%)
GUBW Meituan 5xShortSG250320 +0.011
(+24.09%)
DRRW Geely 5xLongSG251113 +0.014
(+13.77%)
Code Name Bid Change1
(%)
DRKW Meituan 5xLongSG241126 -0.004
(-24.88%)
DWYW JD 5xLongSG251113 -0.025
(-24.73%)
DVXW Meituan 5xLongSG251113 -0.013
(-24.13%)
8E9W JD 5xLongSG250924 -0.088
(-23.93%)
DCUW Alibaba 5xLongSG250205 -0.005
(-23.43%)
Bid Change (%)1: Data calculated based on the percentage change in last intrinsic closing value on 26/08/2024 and last bid price on 27/08/2024 09:59.
Intinsic Closing Value: Last updated on 26/08/2024
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Top 10 traded DLCs
Code Name Underlying1
Chg (%)		 Bid Change2
(%)		 Bid Price Value traded
DXVW Sunny 5xShortSG241209 +1.29% -0.002
(-7.47%)		 0.025 67K
DQYW Keppel 5xShortSG250716 -0.32% +0.008
(+2.37%)		 0.345 59K
CWLW HSI 7xLongSG241030 -0.55% -0.005
(-2.69%)		 0.181 56K
CXPW HSI 7xLongSG251029 -0.55% -0.017
(-3.20%)		 0.515 55K
DEQW Alibaba 5xLongSG241126 -4.62% -0.031
(-22.70%)		 0.106 49K
RQGW HSI 7xLongSG251216 -0.55% -0.033
(-2.19%)		 1.475 47K
CVYW HSTECH 7xShortSG251029 -1.26% +0.019
(+10.78%)		 0.195 47K
DISW Alibaba 5xLongSG250904 -4.62% -0.016
(-22.39%)		 0.055 43K
DQXW SATS 5xLongSG260716 -0.54% -0.024
(-3.00%)		 0.775 42K
DVXW Meituan 5xLongSG251113 -4.68% -0.013
(-24.13%)		 0.041 41K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 26/08/2024 and 27/08/2024 09:59.
Bid Change (%)2: Data calculated based on the percentage change in last intrinsic closing value on 26/08/2024 and last bid price on 27/08/2024 09:59.
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