This website (the “Hong Kong Website”) is maintained by Citigroup Global Markets Asia Limited and/or its affiliates (collectively the “Website Owner”). Access to the Hong Kong Website and documents and information published herein (the “Materials”), and their distribution, is subject to the following disclaimer.
This Hong Kong Website is only directed at and intended for residents of Hong Kong only. It may be illegal to download any information from the Hong Kong Website in other countries and the Website Owner disclaims all responsibility if you download any information from the Hong Kong Website in breach of any law of country in which you are residing. The Materials in this website must not be relied, or acted, upon by persons outside Hong Kong. By entering this Hong Kong Website, you confirm that you are a resident of Hong Kong and agree to be bound by the following disclaimer.
Persons accessing this Hong Kong Website or who may possess any information contained herein should inform themselves about, and observe and comply with, any applicable restrictions (including those set out herein) at their own cost and expense and without liability to the Website Owner. Reproduction, distribution, transmission, disclosure or publication of any information contained herein in any other places or to persons to whom such distribution, transmission, disclosure or publication is not permitted under the applicable laws or regulations of such places is strictly prohibited. In particular, information contained herein may not be taken or transmitted into the United States or distributed, directly or indirectly, in the United States or to any U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933). In order to comply with the applicable laws and regulations, the contents of the Hong Kong Website are designed for residents of Hong Kong only and you should not access, browse and/or download any of the contents contained in the Hong Kong Website outside of Hong Kong.
The Materials contained in this Hong Kong Website are provided for information and discussion purposes only and do not constitute or form an (or any part of an) offer, invitation, solicitation, inducement, advice or recommendation, to acquire, dispose of, subscribe for or underwrite any structured products contained, referred to or mentioned in the Materials or this Hong Kong Website (the “Structured Products”). The Materials do not constitute any advice or any form of recommendation to purchase or sell the Structured Products or to conclude any transaction. Nothing contained herein shall form the basis of any contract or commitment whatsoever. Neither this Hong Kong Website nor the Materials shall be construed as an advertisement, inducement or representation of any kind or form whatsoever.
The Materials have been prepared for the intended recipients in general only and do not take into account the particular needs of any specific recipient.
The Materials are based on information obtained from public sources which are considered by the Website Owner to be reliable. However, the Website Owner has not verified the Materials, and such Materials may be incomplete or inaccurate. Opinions, estimates and other information contained in the Materials may be changed or withdrawn without notice. The Website Owner is not under any obligation to update or supplement the Materials. None of the Website Owner and/or its associates and connected persons, respective directors, senior officers and/or employees (including persons involved in the preparation or issuance of the Materials on this Hong Kong Website) (collectively, "Citigroup") or any information provider makes any representation or warranty, express or implied, of any kind as to the truth, accuracy, completeness, adequacy or reasonableness of the Materials or as to the fitness of any such Materials for any purpose. The Materials contained in this Hong Kong Website are published for reference only and shall not to be relied or acted upon as authoritative, without either the recipient's own independent verification or exercise of independent judgment.
Any indicative pricing levels, disclosure materials, valuations and other analysis published on the Hong Kong Website have been prepared on assumptions and parameters that reflect our good faith determinations. The assumptions and parameters used are not the only ones which could have reasonably been selected, and accordingly, no guarantee is given in respect of the accuracy, reasonableness or completeness of such quotations, disclosure or analysis. No representation or warranty is made that any indicative return or performance will be achieved in the future. Such information does not constitute investment advice by the Website Owner and are for information purposes only.
The Structured Products are non-collateralised product. If the Issuer becomes insolvent or defaults, you may not recover part or all of the amount due.If you invest in the Structured Products, you are relying on the creditworthiness of the Issuer. The price of the Structured Products may fall in value as rapidly as it may rise and investors may sustain a total loss of their investment. It is not possible to predict whether the secondary market for the Structured Products will be liquid or illiquid. Citigroup Global Markets Asia Limited may be the only liquidity provider for the Structured Products. Any opinions, forecasts or estimates herein constitute a judgment as of the date the information is published, and there is no assurance that future results or events will be consistent with any such opinions, forecasts or estimates. You are cautioned that actual results may differ materially from those set forth in any forward-looking statements. Past performance is also not indicative of future results.
Callable bull/bear contracts (“CBBCs”) have a mandatory call feature. Subject to the terms and conditions of CBBCs as set out in the Base Listing Document (including any addendum thereto), CBBCs will be automatically terminated when the spot price / spot level of the underlying asset reaches the call price / call level during the observation period, in which case, you will not receive any cash payment (for category N CBBCs) or may receive a cash payment called the residual value (for category R CBBCs).
Prospective investors should therefore ensure that they understand the nature and risks of the Structured Products and should, where applicable, consult their own legal, tax, accounting, financial and other professional advisers to ensure that any decision to invest in the Structured Products is suitable with regard to such investor’s specific circumstances and financial position. Citigroup assumes no fiduciary responsibility or liability for any consequences, financial or otherwise, arising from the subscription or purchase of the Structured Products.
In respect of each issue of the Structured Products, you should carefully review and understand the terms and conditions of the Structured Products, together with the financial and other information of the Issuer, as set out in the Base Listing Document (including any addendum thereto), and the relevant Supplemental Listing Document. These documents may be obtained from the office of the Sponsor, Citigroup Global Markets Asia Limited, at 50th Floor, Champion Tower, Three Garden Road, Central, Hong Kong.
Members of Citigroup may take proprietary positions and may have long or short positions or other interests in the Structured Products and may purchase and/or sell the Structured Products at any time in the open market or otherwise, in each case whether as principal, agent or as market maker. Citigroup is or may also be involved in other financial, investment and professional activities which may on occasion give rise to interests or a conflict of interests in respect of the securities which are the subject of this Hong Kong Website.
Citigroup does not accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this Hong Kong Website or its contents or otherwise arising in connection therewith. Without prejudice to the generality of the foregoing, none of the members of Citigroup or any information provider will be liable to anyone for any interruption, inaccuracy, error or omission, regardless of cause, in the information on the Hong Kong Website or for any kind of damages arising in connection therewith. Further, communications over the internet and by email are not secure and there is a risk that information may be intercepted, lost or destroyed. Citigroup does not accept any liability for any such occurrence and do not warrant that any communication or attachments or this Hong Kong Website will be free from viruses, worms or other harmful components.
Any personal information supplied by you through this Hong Kong Website will be kept strictly confidential and, save as expressly provided, will only be used in ways which you have consented to. By accessing this Hong Kong Website, you are deemed to consent to the Website Owner’s use of information collected from you for marketing, planning, product development and research purposes. Please read the privacy policy statement for this Hong Kong Website www.citifirst.com.hk to understand how your personal information will be treated when you use this site.
Except where expressly stated, copyright in the information contained in this Hong Kong Website is owned by or licensed to the Website Owner. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or incorporated in any way into another site, document or other material. The use of any trademarks and logos displayed on this site is strictly prohibited unless written permission for such use is obtained from the Website Owner and/or, where relevant, such third party, which may own the trademarks and logos.
This Hong Kong Website may contain links to other web sites operated by entities which do not belong to Citigroup. These links have been provided solely for you to obtain further information about other relevant products and entities in the market. Members of Citigroup have no control over the information on these sites or the products or services on them, and therefore make no representations and accepts no responsibility regarding their contents. Inclusion of a link to a third party site should not be construed as an endorsement of such third party site by the Website Owner or that party's endorsement of this Hong Kong Website. You are advised to make your own enquiries in relation to third parties described or linked on this Hong Kong Website. Please note that you will be subject to the terms of use of the other sites that you visit.
The Website Owner reserves the right to change the Hong Kong Website in whole or in part at any time and to restrict, interrupt or terminate its service. The Website Owner also reserves the right to modify or amend these terms and conditions at any time. If any provision hereunder (or a part thereof) is or becomes illegal, invalid or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions shall not in any way be impaired or affected.
These terms and conditions are exclusively governed by and shall be construed in accordance with the laws of Hong Kong. Each user is subject to the exclusive jurisdiction of the courts of Hong Kong in respect of any disputes arising hereunder.
恒指今早(22日)低開200點後跌幅於早段逐步收窄,更一度轉升52點,不過整體走勢仍要沿6月下旬高位約22500點水平向下延伸的下降軌持續偏軟,相比6月頂部回調接近2700點,短期走勢亦見受制於10天綫約19900點水平,而今個月低位則在19469點位置。 投資者如看好恒指欲搏反彈,或可留意恒指購20027,行使價21000點,實際槓桿14.6倍,引伸波幅23.1%,換股比率8000兌1,2022年11月29日到期;如看淡,或可留意恒指沽17152,行使價18600點,實際槓桿12.5倍,引伸波幅26.1%,換股比率8600兌1,2022年10月28日到期。
恒生指數公司上周五(19日)公佈恒生指數系列季度檢討結果,從9月5日起,包括百度(9888)在内的4隻股份將納入恒指。百度今早低開1.7%後反彈,曾倒升近3%,股價暫時仍位於10天綫之下。 投資者如看好百度,或可留意百度購15570,行使價150元,實際槓桿5.3倍,引伸波幅52%,換股比率100兌1,2022年12月29日到期;如看淡,或可留意百度沽14816,行使價108元,實際槓桿6.2倍,引伸波幅61.6%,換股比率100兌1,2022年10月28日到期。
另外,平保(2318)明天(23日)將公佈中期業績,股價自7月上旬起沿10天綫向下,上周四(18日)收市更見2017年7月以來最低位,今早低開1.5%後見反彈,曾倒升逾2%。輪證資金流方面,平保5日(8月15至19日)累積樂觀資金流逾1200萬元,悲觀資金流則有逾8百萬,樂觀/悲觀比例在6:4。 投資者如看好平保或想部署業績好倉,或可留意平保購22993,行使價51.88元,實際槓桿8.4倍,引伸波幅34%,換股比率10兌1,2023年02月27日到期;如看淡,或可留意平保沽17934,行使價37.95元,實際槓桿7.4倍,引伸波幅41.4%,換股比率10兌1,2022年10月28日到期。
港股周一(25日)强勢回勇,恆指將上周五近500點跌幅全數收復之餘,全日更急升711點,企上三萬點大關,收報30,159點,創31個月收市新高。大市成交金額2869億。恒指成分股成交額排名前三有騰訊(700)348.6億、阿里(9988)123.5億及美團(3690)119.1億。
美團(3690)連升6天,昨日再創新高。美團繼續獲北水追捧,截至周一收市已錄得連續14日净買入。有大行調升美團目標價達32.2%,由342元升至452元。上調目標價源於美團外賣配送及到店餐飲業務繼續穩健復甦。不過,大行亦指出美團在雜貨業務方面有較大投資,因此下調 2020年和2021年度經營利潤率預測3%及15%。 繼續看好之投資者或可留意美團購22820,行使價468.2元,實際槓桿5.3倍,引伸波幅62.3%,換股比率100兌1,2021年05月03日到期。
由於美團股價連升多日,14天相對強弱指數(RSI)>70,屬超買水平,意味股價或於短期内有回調壓力,資金同時見流向部署淡倉,美團成為十大淡倉流入及好倉流出之個股。如看淡後市,或可留意美團沽22795,行使價333.0元,實際槓桿3.1倍,引伸波幅59.7%,換股比率100兌1,2021年07月29日到期。
汽車股繼續狀態大勇,其中比亞迪(1211)已連升4天,昨日再創新高。有大行指比亞迪早前完成配股有助降低財務開支,加上計劃分拆IGBT芯片於內地上市,預期帶動股價造好,因此提升目標價升至290元。截至周一收市,北水連續3個交易日净買入,繼續看好新能源汽車前景,對比亞迪股價繼續看高一綫的投資者或可留意比亞迪購12152,行使價313.08元,實際槓桿3.6倍,引伸波幅78.8%,換股比率100兌1,2021年05月28日到期。輪證資金流方面,比亞迪昨日為十大好倉流出及十大淡倉流出之個股,部分投資者或已獲利離場。如認爲股價短期内會有回吐壓力,或可留意比亞迪沽29326,行使價208.0元,實際槓桿2.7倍,引伸波幅69.9%,換股比率100兌1,2021年07月29日到期。
受颱風影響,港股週二休市一天。回顧週一港股表現顯著造好,或受國家主席習近平本週南巡的消息影響,市場憧憬或有關於大灣區發展的新政策公佈,恆指高開98點,之後愈升愈有,週一午後一度衝上24703點高位,收市亦能穩守24600點之上,報24650點,全日勁升531點。大市交投活躍,週一成交金額有1403億。
恒指成份股當中成交額最多為騰訊(0700), 週一錄得104.5億成交額,更有18.1億元港北水净流入追捧。騰訊週一見一個月高位,全日急升逾3%,收市見全日高位,報557元。騰訊股價自9月底於500元附近獲得支持後,連續8個交易日未曾收跌,升勢持續,今日早段更突破歷史高位,最高曾見569.5元,騰訊將於11月中公佈第三季度業績,投資者如看好,或可留意騰訊購16925,行使價618元,實際槓桿9.6倍,引伸波幅39.5%,換股比率100兌1,2020年12月24日到期。
輪場資金流方面,騰訊為週一十大淡倉流入及十大好倉流出之個股,欲以認沽證作淡倉部署,或可留意騰訊沽17271,行使價508元,實際槓桿8.1倍,引伸波幅36.4%,換股比率100兌1,2021年01月19日到期。
小米(1810)股價沉寂已久,週一終有起色,飆升8.4%追落後,升穿20天綫,是大型科網股中升得最多的個股。週一成交額亦見急增,為上週五的兩倍,同時週一亦錄得超過8.3億元北水净流入。另外,小米宣布發布UWB技術,該技術可實現對智能設備厘米級定位,指向任意智能設備都可直接控制,消息或對小米股價有刺激作用,投資者如看好,或可留意小米購26001,行使價26元,實際槓桿5倍,引伸波幅55.9%,換股比率10兌1,2021年03月01日到期。相反,看淡或可留意小米沽27918,行使價18.1元,實際槓桿4.2倍,引伸波幅48.3%,換股比率10兌1,2021年04月29日到期。
8月的最後一個交易日,恒指高開低收,開市升310點,早段最高曾升425點,收市為全日低位25177點,單日波幅超過600點。大市成交金額1818億。
港交所(0388)再創上市新高,昨升2.8%,收市企上391的高位,報391.2元,成交額則見32億,連續2個交易日有增加。近日多隻中概股回港上市的利好消息接踵而來,先有將於9月8日上市的農夫山泉,截至上週四,孖展超額認購逾280倍,有1644.9億,再有百勝中國昨日宣佈來港第二上市,今日招股,預計於9月10日掛牌,兩隻股份回港上市有望進一步刺激大市交投,港交所有望受惠。另外,證監會上週五認可了兩隻在香港與內地交易所買賣基金(ETF)互掛計劃下的ETF在聯交所上市。此舉進一步深化港交所與内地交易所的合作,相信亦有機會成爲刺激港股交投的另一催化劑,北水連續2個交易日净流入港交所追捧,投資者如看好,或可留意港交所購24394,行使價458.88元,實際槓桿7倍,引伸波幅41.7%,換股比率100兌1,2021年01月18日到期。
但當然,港交所股價破頂後好倉資金開始食糊離場,上日反而見較多淡倉資金入場部署,投資者如看淡,或可留意 港交所沽24402,行使價357元,實際槓桿5.6倍,引伸波幅38.8%,換股比率100兌1,2021年01月18日到期。
小米(1810)下週一(9月7日)將正式染藍,北水連續4日净流入,小米股價就升足4個交易日,累積接近30%的升幅。股價自上週三公佈第二季亮麗業績後,股價持續向好,繼上週四股價飆升逾11%,昨日繼續破頂,收報23.5元,小米同時宣佈將於本週五(4日)在日本首次推出支緩5G智能手機Mi 10 Lite 5G,銷情或成下一個市場關注點,投資者如看好,或可留意小米購26001,行使價26元,實際槓桿3.6倍,引伸波幅62.5%,換股比率10兌1,2021年03月01日到期。
但反觀小米14天RSI指數超過75,早已達到超賣水平, 投資者如看淡,或可留意小米沽25978,行使價20.88元,實際槓桿3.1倍,引伸波幅59.9%,換股比率10兌1,2021年03月01日到期。