8th April 2025 (Tuesday)
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Market Commentary
HSI Fell More Than 3000 Points on 7 April

The Hong Kong Stock Market dived deep on Monday 7 April due to China’s tough response on Trump’s tariff, declaring a 34% tariff on all US products. The action sparked worries on further escalation of the trade war.

The Hang Seng TECH Index (HSTECH) was down by around 17% or 911 points, marking its worst one-day performance since inception. Hang Seng Index (HSI) was also down by around 13% or more than 3,000 points.

In the morning session on 8 April, both indices rose slightly recouping some of yesterday’s losses, with HSI recovering the 20,000-point level and the HSTECH gaining by more than 4%.

HSTECH 7x DLCs were amongst the top movers these two days. The 7x Short HSTECH DLC (W8OW) more than doubled in value yesterday while the 7x Long HSTECH DLC (WYHW) lost about 90% of its value yesterday.  

As Trump claimed to further increase the tariff rate if China does not back off by today, the market is expected to continue to be volatile. 

Investors can gain exposure to the key HK indices and single stocks using the Long and Short DLCs to capture short-term opportunities in the market or to hedge their investment portfolios during this volatile times.
WYHW
HSTECH 7xLongSG261105A
HSTECH 7x Long
Last Price1
0.121 +0.007
(+6.36%)
Last Update: 08/04/2025 13:36
 
W8OW
HSTECH 7xShortSG261105
HSTECH 7x Short
Last Price1
0.116 -0.011
(-8.40%)
Last Update: 08/04/2025 13:36
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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Top Gainers / Losers
Code Name Bid Change1
(%)
DWYW JD 5xLongSG251113 +0.007
(+41.18%)
DFKW Sembcorp 5xLongSG250515 +0.38
(+37.07%)
DYHW Sembcorp 5xLongSG250709 +0.055
(+35.48%)
8E9W JD 5xLongSG250924 +0.022
(+33.85%)
EHPW NetEase 5xLongSG251216 +0.012
(+31.58%)
Code Name Bid Change1
(%)
DVNW Sembcorp 5xShortSG250709 -0.011
(-32.35%)
X7GW Sembcorp 5xShortSG270331 -0.375
(-31.78%)
ULBW JD 5xShortSG260513 -0.155
(-31.31%)
5C3W BYD 5xShortSG270331 -0.55
(-21.40%)
SLRW Xiaomi 5xShortSG260908 -0.15
(-20.83%)
Bid Change (%)1: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day.
Intinsic Closing Value: Last updated on 07/04/2025
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Top 10 traded DLCs
Code Name Underlying1
Chg (%)		 Bid Change2
(%)		 Bid Price Value traded
YVRW HSTECH 5xShortSG261105 +1.62% -0.035
(-8.43%)		 0.375 1M
VHXW HSI 7xShortSG261105 +0.38% -0.015
(-2.70%)		 0.530 1M
48QW HSCEI 7xShortSG261105 +1.07% -0.035
(-6.73%)		 0.475 1M
CWUW HSTECH 5xLongSG261029 +1.62% +0.007
(+5.15%)		 0.147 902K
CXPW HSI 7xLongSG251029 +0.38% +0.003
(+1.83%)		 0.170 877K
CVMW HSI 5xLongSG261029 +0.38% +0.005
(+0.95%)		 0.540 797K
DRQW SIA 5xShortSG250716 -0.49% +0.015
(+3.90%)		 0.400 695K
WIEW HSI 5xShortSG280330 +0.38% -0.04
(-1.44%)		 2.680 481K
W8OW HSTECH 7xShortSG261105 +1.62% -0.011
(-8.40%)		 0.116 470K
DQYW Keppel 5xShortSG250716 -1.53% +0.035
(+12.73%)		 0.310 464K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 07/04/2025 and 08/04/2025 13:36.
Bid Change (%)2: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day .
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