5th September 2024 (Thursday)
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Market Commentary
Capitaland Rebounds 15% From Aug Low

CapitaLand Investment (CLI) announced on 14 August a 6% y-o-y decline in net profit in 1HFY2024 for the six months ended 30 June, resulting in its share price falling to a multi-year low of S$2.42 before recovering to close at S$2.49 on 14 August.

Since 14 August, CLI's share price has since rebounded almost +15% from the August low to close at S$2.78 on 4 September, with the most recent boost from CLI's announcement to sell its 50% stake in ION Orchard to Capitaland Integrated Commercial Trust (CICT) as part of its "asset-light growth strategy".

In the 16 trading day period between 14 August and 4 September, the 5x Long Capitaland DLC (DPNW) has gained around +66.7% on the back of CLI's gain of +11.7% on a close-to-close basis while the 5x Short Capitaland DLC (DXOW) declined around -44.8% in the same period. 

Investors might have noticed that DPNW generated a gain of more than 5 times that of the CLI's performance over the 16 trading period while DXOW suffered less than 5 times. This is due to the Compounding Effect feature of the DLCs which can work for or against the investor depending on whether it is a trending, sideways or volatile market. 

To express their short-term view, investors can gain up to 5x Long and Short exposure on the Singapore stocks. View the full list of DLCs here. 
DPNW
CapInv 5xLongSG260716
CAPN.SI 5x Long
Last Price1
0.092 -0.002
(-2.13%)
Last Update: 04/09/2024 17:28
 
DXOW
CapInv 5xShortSG241218
CAPN.SI 5x Short
Last Price1
0.360 +0.004
(+1.12%)
Last Update: 04/09/2024 17:28
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
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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: 03/09/2024
 
Top Gainers / Losers
Code Name Bid Change1
(%)
Y1CW PetroCH 5xShortSG250320 +0.027
(+16.31%)
YVAW CMB 5xShortSG250320 +0.02
(+12.23%)
VPYW JD 5xShortSG250320 +0.018
(+12.11%)
DUHW CMOB 5xShortSG250213 +0.002
(+9.92%)
CXJW HSCEI 7xShortSG240912 +0.001
(+9.53%)
Code Name Bid Change1
(%)
DVKW PetroCH 5xLongSG250410 -0.049
(-17.89%)
DIKW PetroCH 5xLongSG241030 -0.436
(-16.29%)
DEWW COSCO 5xLongSG250626 -0.092
(-15.95%)
DWYW JD 5xLongSG251113 -0.01
(-10.21%)
8E9W JD 5xLongSG250924 -0.036
(-10.10%)
Bid Change (%)1: Data calculated based on the percentage change in last intrinsic closing value on 04/09/2024 and last bid price on 05/09/2024 12:04.
Intinsic Closing Value: Last updated on 04/09/2024
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Top 10 traded DLCs
Code Name Underlying1
Chg (%)		 Bid Change2
(%)		 Bid Price Value traded
CYMW HSTECH 5xLongSG241218 -0.41% -0.001
(-2.47%)		 0.000 410K
RQGW HSI 7xLongSG251216 -0.46% -0.043
(-3.26%)		 1.270 290K
CVYW HSTECH 7xShortSG251029 -0.41% +0.008
(+4.56%)		 0.137 287K
CWLW HSI 7xLongSG241030 -0.46% -0.005
(-3.07%)		 0.155 260K
CZOW HSCEI 7xLongSG250304 -0.87% -0.008
(-5.41%)		 0.000 208K
DXVW Sunny 5xShortSG241209 +1.49% -0.002
(-8.16%)		 0.023 199K
CVGW HSCEI 5xLongSG240912 -0.87% -0.008
(-4.61%)		 0.000 179K
DVXW Meituan 5xLongSG251113 -0.76% -0.003
(-4.11%)		 0.070 174K
DIPW PingAn 5xLongSG250626 +0.57% +0.001
(+3.97%)		 0.000 154K
DQYW Keppel 5xShortSG250716 -0.33% +0.009
(+2.60%)		 0.000 138K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 04/09/2024 and 05/09/2024 12:04.
Bid Change (%)2: Data calculated based on the percentage change in last intrinsic closing value on 04/09/2024 and last bid price on 05/09/2024 12:04.
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