16th September 2026 (Wednesday)
[Click here for DLC product list]
Market Commentary
SGX 5x Short DLC Surges 45%, Banks Gain ahead of FOMC

SGX came under selling pressure on Monday (14 September), falling more than 6% after Macquarie downgraded the stock to “Underperform” from “Neutral”, before recovering slightly to close 5.72% lower.

The stock extended its decline following the downgrade, falling a further 1.66% on Tuesday (15 September) before slipping approximately 0.6% as of 10:00am Singapore time on Wednesday (16 September).

Amplifying the move, the SGX 5x Short DLC (8I3W) has surged ~45% since the close on 11 September, while the SGX 5x Long DLC (JLFW) has fallen approximately 36% over the same period.

Looking ahead, attention turns to the FED rate decision this week, with markets pricing in more than 90% probability of a 25-basis-point rate hike.

Singapore banks could benefit if the rate increase materialises, supported by the potential uplift to net interest income.

OCBC led gains on Wednesday morning, rising approximately 1.1% as of 10:00am Singapore time.

Correspondingly, the OCBC 5x Long DLC (9RWW) gained approximately 5.5%, while the OCBC 5x Short DLC (9DAW) declined by a similar magnitude.

Investors with a bullish view can consider Long DLCs for leveraged exposure, while bearish investors can consider Short DLCs for inverse exposure across a broad range of U.S., Hong Kong and Singapore single stocks and index underlyings. 

View the full list of DLCs here

JLFW
SGX 5xLongSG280516
5x Long SGX
Last Price1
2.300 -0.06
(-2.54%)
Last Update: 16/09/2026 10:31
 
8I3W
SGX 5xShortSG280725
-5x Short SGX
Last Price1
0.133 +0.004
(+3.10%)
Last Update: 16/09/2026 10:31
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.
  CLICK FOR MORE PRODUCT INFO  

 

5x U.S. MAGNIFICENT 7 DLCs

NEW GOLD & SILVER DLCs

New Issuance
Stock
Code
DLC
Name
Underlying Leverage
Factor
Listing
Date
9BCW Kuaisho 5xLongSG280223 Kuaishou Technology 5x 11/09/2026
X2GW Lenovo 5xLongSG280223 Lenovo Group 5x 11/09/2026
ZAAW Sands 5xLongSG280223 Sands China 5x 11/09/2026
NVEW Zijin 5xShortSG280223 Zijin Mining Group Company Limited -5x 11/09/2026
  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
(%)
HBIW CATL 5xShortSG280120 +0.014
(+22.58%)
EZNW CATL 5xShortSG280609 +0.74
(+22.02%)
9JPW Bilibili 5xShortSG270127 +0.012
(+15.79%)
UQAW Bilibili 5xShortSG280120 +0.86
(+15.25%)
9ZXW Trip.com 5xLongSG280223 +0.008
(+14.04%)
Code Name Bid Change1
(%)
IEYW CATL 5xLongSG270712 -0.07
(-21.21%)
VLMW Bilibili 5xLongSG280316 -0.006
(-15.79%)
9DFW SMIC 5xShortSG280524 -0.045
(-13.64%)
ZAXW SMIC 5xShortSG270930 -0.002
(-13.33%)
WK4W SpaceX 3xLongSG280707 -0.46
(-9.26%)
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 15/09/2026
  READ MORE  
Top 10 traded DLCs
Code Name Underlying1
Chg (%)
Bid Change2
(%)
Bid Price Value traded
B00W HSI 3xLongSG280309 +0.04% 0
(0.00%)
1.160 210K
VLMW Bilibili 5xLongSG280316 -2.80% -0.006
(-15.79%)
0.032 193K
9B2W HSTECH 7xShortSG270309 +0.29% -0.001
(-0.69%)
0.144 189K
FHOW SIA 5xLongSG280516 -0.91% -0.025
(-3.85%)
0.625 170K
YPLW Keppel 5xLongSG280725 -0.71% -0.01
(-3.03%)
0.320 164K
9PXW Wilmar 5xShortSG270623 +0.54% -0.002
(-4.08%)
0.047 117K
RBKW HSI 5xLongSG280524 +0.04% 0
(0.00%)
0.905 107K
FVBW DBS 5xShortSG280725 +0.42% -0.004
(-2.63%)
0.148 86K
YCRW Keppel 5xShortSG280725 -0.71% +0.015
(+4.84%)
0.325 82K
SYHW HSTECH 7xLongSG271216 +0.29% +0.001
(+2.22%)
0.046 80K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 15/09/2026 and 16/09/2026 10:31.
Bid Change (%)2: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day .
SEARCH FOR A DLC
   
DISCLAIMER

This advertisement has not been reviewed by the Monetary Authority of Singapore (“MAS”). This advertisement is distributed in Singapore by MAS licensed representatives of Société Générale, Singapore Branch. If you wish to discuss this advertisement, you should do so with your financial adviser, authorised broker or with MAS licensed representatives of Société Générale, Singapore Branch. This advertisement does not constitute or form part of any offer, or invitation, to subscribe for or to sell, or solicitation of any offer to subscribe for or to purchase, any certificates on indices/equities (the “Certificates” or “Daily Leverage Certificates”), warrants or other securities. Nothing herein should be considered as investment or financial advice or any form of recommendation to purchase or sell the Certificates/Daily Leverage Certificates, warrants or other securities mentioned. Information herein is intended as general information only and does not take into account the specific investment objectives, financial situation and the particular needs of any particular person. The price of Certificates/Daily Leverage Certificates, warrants or other securities and/or the price of the underlying asset may fall in value as rapidly as it may rise and holders may sustain a total loss of their investment. Investments in the Certificates/Daily Leverage Certificates, warrants or other securities carry risks. Any past performance of the Certificates/Daily Leverage Certificates, warrants or other securities, or past performance of an underlying asset, is not indicative of future performance. This document does not constitute a full disclosure of the risks involved. Members of the Société Générale group and/or its connected persons may take proprietary positions and may have long or short positions or other interests in the Certificates/Daily Leverage Certificates, warrants or other securities and may purchase and/or sell the Certificates/Daily Leverage Certificates, warrants/ or other securities at any time in the open market or otherwise, in each case whether as principal, agent or market maker.

The Certificates/Daily Leverage Certificates are for specified investment products (SIP) qualified investors only.

The terms and conditions of any Certificates/Daily Leverage Certificates, warrants or other securities must be read in conjunction with the base listing documents for those Certificates/Daily Leverage Certificates, warrants or other securities and the relevant supplemental listing document. Investors should therefore ensure that they understand the nature of the Certificates/Daily Leverage Certificates, warrants or other securities and carefully study the risk factors set out in the base listing document and the relevant supplemental listing documents and, where necessary, seek professional advice before investors invest in the Certificates/Daily Leverage Certificates, warrants or other securities. Copies of the base listing document, which contains financial and other information relating to the Issuer and any addenda thereto and the relevant supplemental listing documents, which contain details of the Certificates/Daily Leverage Certificates, warrants or other securities, can be obtained from the Allen & Gledhill LLP at One Marina Boulevard #28-00, Singapore 018989. Investors should read these documents in their entirety before agreeing to invest in the Certificates/Daily Leverage Certificates, warrants or other securities. This is a structured product which involves derivatives and investors should not invest without fully understanding and being willing to assume all risks associated with the Certificates/Daily Leverage Certificates, warrants or other securities. Investors should ensure they understand the risks, nature, terms and conditions of the Certificates/Daily Leverage Certificates, warrants or other securities and consult their own legal, financial, tax and professional advisers regarding the suitability and risks before committing to any investment.

Investors risk the loss of part or all of their investment. Investment in the Certificates/Daily Leverage Certificates, warrants or other securities involves significant levels of risks and the Certificates/Daily Leverage Certificates, warrants or other securities should only be purchased by investors who are knowledgeable in investment matters or who have obtained appropriate investment advice.

Société Générale and its affiliates (the “SG Group”) act in different capacities in relation to the issue of the Certificates/Daily Leverage Certificates, warrants or other securities. SG Issuer is the issuer of the Certificates/Daily Leverage Certificates, warrants or other securities (the “Issuer”), Société Générale acts as designated market maker for the Certificates/Daily Leverage Certificates, warrants or other securities. Société Générale, Singapore Branch is also authorized to distribute and market the Certificates/Daily Leverage Certificates, warrants or other securities to its customers. For the avoidance of doubt and as an independent stipulation, investors agree that by purchasing the Certificates/Daily Leverage Certificates, warrants or other securities, the SG Group may provide different services and/or perform different roles in relation to the issuance, offer and/or dealing in the Certificates/Daily Leverage Certificates, warrants or other securities. The investor acknowledges and agrees that the provision of such services or the undertaking of such roles may not always be consistent with the interests of the issuer and/or the investors. The investor agrees that subject to mandatory applicable law which the SG Group cannot derogate from, no implied duties or obligations shall be imposed on SG Group to the investor under the Certificates/Daily Leverage Certificates, warrants or other securities, and in connection with or as a result of the investor’s subscription or purchase of the Certificates/Daily Leverage Certificates, warrants or other securities.

The Issuer or Société Générale may have a position or a material interest in any underlying asset.

The Issuer, Société Générale or any of their affiliates may engage in transactions involving the underlying asset for their own account for business reasons or in connection with hedging of the obligation under this Certificates/Daily Leverage Certificates, warrant or other securities. Conflicts of interest may arise as a result of such transactions within the SG Group and with the interest of investors. The Issuer, Société Générale and their affiliates are not required to consider any investors’ interests in connection with entering into any of the above mentioned transactions.

The Issuer, Société Générale and their affiliates may receive benefits and/or profits as a result of its multiple roles as designated market maker and/or distributor (whether in the nature of a fiduciary, similar or additional duty or relationship or otherwise) and fully consents to the retention of such benefits and/or profits for their own account. Each investor acknowledges and agrees that none of the Issuer, Société Générale and their affiliates is obliged to notify, and is liable to account to, an investor or any other person for (and each investor or such other person shall not be entitled to ask for disclosure of the fact or the amount of, any fees resulting from any of the aforementioned roles, other than is already disclosed in the offering documents for the Certificates/Daily Leverage Certificates, warrants or other securities. Each investor agrees that the investor will have no claim against the Issuer, Société Générale and their affiliates for, and the investor consents to the receipt, acceptance and retention by the Issuer, Société Générale and their affiliates of, such fees arising from any such multiple roles.

Société Générale does not make any warranty, express or implied, as to the accuracy or completeness of the information contained herein. No responsibility or liability is accepted by Société Générale for any inaccuracies, omissions, mistakes or errors of Société Générale in the computation of the cash settlement amount or for any economic or other loss which may be directly or indirectly sustained by any broker or holder of the Certificates/Daily Leverage Certificates, warrants or other securities or any other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities as a result thereof and no claims, actions or legal proceedings may be brought against Société Générale in connection with the Certificates/Daily Leverage Certificates, warrants or other securities in any manner whatsoever by any broker, holder or other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities. Any broker, holder or other person dealing with the Certificates/Daily Leverage Certificates, warrants or other securities does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on Société Générale. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and Société Générale and must not be construed to have created such relationship.

The Certificates/Daily Leverage Certificates, warrants or other securities are not deposits placed with Société Générale.

dlc.socgen.com
Think DLC.  Think SG.  
   
FOLLOW US    
This message was sent to ${EMAIL} because you asked us to keep you up to date with news and tips from Societe Generale.

If you do not wish to receive e-mails from Societe Generale, please unsubscribe by clicking here.
Email: [email protected]   |   Hotline: (65) 6226 2828
© Copyright 2019 Société Générale, Singapore Branch All Rights Reserved.