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騰訊港交隨大市下跌 博取反彈可留意騰訊牛63097/港交牛67363

2021-02-26 11:42:47

外圍如美股急跌,A股如滬深300早段曾回落約2.7%,其後跌幅收窄約半。恒指未能悻免,新舊經濟股皆普遍回落,其中騰訊(0700)開市時跌約3.2%,甚於大市的2.2%,其後的一小時內跌幅收窄速度勝大市。投資者昨天微升見約340萬元淨流入淡倉,好倉見約2,200萬元淨流走,但看遠一點,騰訊從上市新高回落時,好倉過去五個交易日有約3.75億元淨流入,相反淡倉見約7,000萬元淨流走。投資者若看好騰訊可留意牛證63097,收回價643.88元,此為騰訊1月中水平,2021年11月到期 ,實際槓桿 13.3 倍; 相反如看淡騰訊可留意熊證55086, 收回價 736.88 元, 2021年11月到期 ,實際槓桿 9.4 倍。

 

港交所(0388)則剛好相反,開市跌約2%,比大市略好,但其後跌幅曾擴大至約6%,截至早上10:30跌幅約4%。港交所去年純利按年增23%,滬深港通收入及其他收益增91%。大行普遍認為業績合符預期,惟股價不敵市場淡風,短短數個交易日之間,由高位587元計已回落兩成。投資者若續看好博取港交所反彈可留意牛證67363,收回價444.88元為1月初橫行區底部,2021年11月到期 ,實際槓桿 14.5 倍; 相反如看淡或為持股作對沖,可留意認沽證29409,行使價 398.88 元, 2021年7月到期 ,實際槓桿 6.4 倍。

 

其他滙豐輪證焦點:

 

騰訊認購證14324,行使價 809.38 元, 2021年9月到期 ,實際槓桿 5.3 倍。

騰訊認沽證13986,行使價 686.38 元, 2021年12月到期 ,實際槓桿 3.2 倍。

騰訊牛證63097,行使價 639.88 元, 收回價 643.88 元, 2021年11月到期 ,實際槓桿 13.3 倍。

騰訊熊證55086,行使價 740.88 元, 收回價 736.88 元, 2021年11月到期 ,實際槓桿 9.4 倍。

 

港交認購證29793,行使價 568.88 元, 2021年7月到期 ,實際槓桿 6.7 倍。

港交認沽證29409,行使價 398.88 元, 2021年7月到期 ,實際槓桿 6.4 倍。

港交牛證67363,行使價 442.38 元, 收回價 444.88 元, 2021年11月到期 ,實際槓桿 14.5 倍。

港交熊證68253,行使價 569.88 元, 收回價 565.88 元, 2021年11月到期 ,實際槓桿 4.7 倍。

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本結構性產品並無抵押品,如發行人無力償債或違約,投資者可能無法收回部份或全部應收款項。

本文由香港上海匯豐銀行有限公司(「本行」或「發行商」)發行(包括任何參考條款),僅供參考之用,並不構成邀約、游說、或建議出售或購買結構性產品。

結構性產品屬複雜產品,投資者務須就此審慎行事,除非投資者完全了解及願意承擔所涉風險,否則切勿投資此產品。結構性產品價格可急升可急跌,投資者或會損失所有或大部分投資。過往表現並不反映將來表現。投資前應了解結構性產品之性質及風險,並詳閱有關上市文件,獨立決定是否適合自己,若需要應諮詢專業建議。本行及其委任之流通量提供者可能是結構性產品的唯一市場參與者,而結構性產品的二級市場可能有限。謹請注意,牛熊證設有強制收回機制,因此有可能提早終止,在此情況下(i)N類牛熊證投資者會損失於牛熊證的全部投資;而(ii)R類牛熊證之剩餘價值則可能為零。界內證在市場是全新的結構性產品,現時在香港交易所並無類似上市產品可作比較。界內證具備有別於標準的特徵,其條款及定價或較其他標準權證複雜,其最大潛在回報為固定及設有上限。界內證價格變動可能與其掛鈎資產的價格變動不成比例或呈相反方向。

作者為金管局及證監會持牌人士,並無就結構性產品或相關資產持有任何直接或間接權益。
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