20250801-法国兴业证券_香港_-法兴窝轮日志_3页_255kb

Stock Analysis:

• Tencent (0700): Previous close at $550 (+0.18%), consolidating near the 550关口. 10-day average line at $543, with implied volatility at 32.2%. Recommendation: Wait for a pullback to buy at lower levels.
• Alibaba (9988): Previous close at $115.7 (-1.20%), tested the 50-day average of $113, showing weakening trend. Implied volatility at 40.5%, recommendation: Cautious, avoid aggressive buying.

Market Context: Hong Kong stock prices and fund flows mentioned, with HSI implied volatility noted.

Warrants/Options Overview: Detailed list includes:

• Tencent call warrant (16535) expiring 27/10/2025, strike 650.5, IV 32.2%.
• Alibaba call warrant (16291) expiring 21/11/2025, strike 125.1, IV 40.5%.
• Other stocks like Meituan, Xiaomi, and BYD also covered, with various warrants listed by expiration, strike, IV, and leverage.

Structured Products: A range of warrants with features such as high leverage (e.g., 9.9x for Xiaomi call), subject to risks like no collateral, potential loss of investment, and market conditions. Details available in the full document.