9th February 2026 (Monday)
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Market Commentary
Pop Mart 5x Long & Short DLCs in Focus

Pop Mart (9992.HK) gained +8.8% over the week (2-6 Feb 2026), supported by sustained positive sentiment around its upcoming product launches. Strong market interest in its non-LABUBU series, including the PUCKY Knock and Stary Heartbeat Series, together with the recent launch of its share repurchase program, helped bolster investor confidence. 

Pop Mart's share price is currently trading firmly above its 50-day, 100-day, and 200-day moving averages, reflecting the positive price momentum observed throughout the week as investor confidence continues to build.

Tracking the underlying, the Pop Mart 5x Long DLC rallied about 40%, while the Pop Mart 5x Short DLC declined about -32%.

Meanwhile, broader market sentiment was more muted. The Hang Seng Tech Index (HSTECH) fell -6.5% over the same period, while the broader Hang Seng Index (HSI) dropped -3.0%.The HSTECH 7x Short DLC was up about 24% due to volatile trading during the week, while the HSTECH 7x Long DLC was down about 22%.

Investors looking to capture directional moves or amplify exposure to Hong Kong equities can utilise our range of Long and Short DLCs to express their market views.

Visit here to view the full list of DLCs. 

IAUW
Popmart 5xLongSG270706
9992.HK 5x Long
Last Price1
0.107 +0.011
(+11.34%)
Last Update: 09/02/2026 10:29
 
ZBTW
Popmart 5xShortSG270706
9992.HK 5x Short
Last Price1
0.064 -0.007
(-10.00%)
Last Update: 09/02/2026 10:29
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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New Issuance
Stock
Code
DLC
Name
Underlying Leverage
Factor
Listing
Date
HBIW CATL 5xShortSG280120 CATL -5x 30/01/2026
FVBW DBS 5xShortSG280725 DBS Group -5x 30/01/2026
YCRW Keppel 5xShortSG280725 Keppel -5x 30/01/2026
9E7W Netflix 3xLongSG280725 Netflix 3x 30/01/2026
WWRW Netflix 3xShortSG280725 Netflix -3x 30/01/2026
ZPGW Alibaba 5xShortSG280120 Alibaba -5x 27/01/2026
RZGW Baidu 5xLongSG280120 Baidu, Inc. 5x 27/01/2026
UQAW Bilibili 5xShortSG280120 Bilibili Inc. -5x 27/01/2026
Z5WW CapInv 5xLongSG280725 CapitaLand Investment Limited 5x 27/01/2026
XNOW HSTECH 7xShortSG280120 Hang Seng TECH Index -7x 27/01/2026
9LTW HKEx 5xShortSG280120 HKEX -5x 27/01/2026
PBDW JD 5xShortSG280120 JD.com -5x 27/01/2026
QPSW Kuaisho 5xShortSG280120 Kuaishou Technology -5x 27/01/2026
IJWW Meituan 5xShortSG280120 Meituan -5x 27/01/2026
PSIW Meituan 5xLongSG280120 Meituan 5x 27/01/2026
DLCs on this underlying asset is launched for the first time.
  CHECK OUT THE NEWLY LAUNCHED DLCs  
Education
US Stock DLCs: What are the benefits and how does it work?

Click here to watch the video

Top Gainers / Losers
Code Name Bid Change1
(%)
RCDW PingAn 5xLongSG280330 +0.66
(+25.68%)
Z4WW AMD 3xLongSG280420 +0.415
(+24.20%)
ZSHW Zijin 5xLongSG271021 +0.395
(+22.25%)
NVTW NVDA 3xLongSG261204US$ +0.89
(+22.08%)
NVIW NVDA 3xLongSG261006 +0.82
(+22.04%)
Code Name Bid Change1
(%)
KGZW AMD 3xShortSG280420 -1.14
(-26.15%)
WBAW PingAn 5xShortSG260908 -0.004
(-23.53%)
NVUW NVDA 3xShortSG261204US$ -0.135
(-23.08%)
NVDW NVDA 3xShortSG261006 -0.051
(-22.17%)
9SWW STEng 5xShortSG270712 -0.045
(-20.45%)
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 06/02/2026
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Top 10 traded DLCs
Code Name Underlying1
Chg (%)
Bid Change2
(%)
Bid Price Value traded
B00W HSI 3xLongSG280309 +1.81% +0.08
(+5.02%)
1.680 237K
9B2W HSTECH 7xShortSG270309 +1.39% -0.018
(-10.34%)
0.155 213K
FNTW HSTECH 7xShortSG270729 +1.39% -0.055
(-10.78%)
0.455 204K
RHDW Alibaba 5xShortSG270907 +2.65% -0.019
(-13.77%)
0.119 184K
FHOW SIA 5xLongSG280516 +1.19% +0.045
(+5.45%)
0.870 176K
LQSW DBS 5xLongSG280330 -0.83% -0.08
(-4.78%)
1.595 155K
EUCW HSI 7xShortSG270309 +1.81% -0.017
(-13.39%)
0.109 153K
UQKW STEng 5xLongSG270712 +4.12% +0.275
(+19.93%)
1.660 152K
SPOW Tencent 3xShortSG271125 +1.55% -0.1
(-3.55%)
2.710 132K
XPKW Xiaomi 3xLongSG271125 0.00% +0.005
(+0.45%)
1.115 115K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 06/02/2026 and 09/02/2026 10:29.
Bid Change (%)2: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day .
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