Macquarie Warrants Singapore

27/08/2026

SMIC - will it reclaim 200-day moving average?

🆕Macquarie has listed a new call warrant QKMW (https://macq.co/6184B1xWTu) tracking SMIC - China's largest and most advanced semiconductor foundry

✳The warrant costs SGD 0.033 while SMIC shares listed on the HKEX trades at HKD 70.00

SMIC shares had momentarily reclaimed its 200-day moving average of HKD 70.26 yesterday but eventually closed at HKD 69.70

👀According to Bloomberg AskB, the 200-day moving average is a critical support level

AskB notes that the MACD line (-0.35) for SMIC has crossed above the signal line (-0.67), a constructive momentum signal, though both remain in negative territory

AskB points out the 50-day moving average of HKD 73.22 as the next price level to watch should SMIC move past HKD 70.26, for a more durable recovery of the share

SMIC has been an underperformer across all near to medium term horizons, with its 3-month 16.7% loss since its 30 June peak of HKD 89.40 compared to the Hang Seng Index's 2% gain particularly striking

📢SMIC had reported after market on 13 Aug a 262% increase in its Q2 net income to USD479.2 million, nearly double the consensus expectation for a USD 256.7 million increase

Its gross margin of 25.3% also beat the street expectation of a 21.4% margin

The better than expected results led to a 12.3% jump in its share price over the next three days

Since, the stock was sold off sharply on the back of a broad tech/semiconductor sell-off, leading SMIC to give back all post earnings gains to close at HKD 66.75 on Monday - which is just four days after its post-earnings rally and below the 13 Aug earnings-day close

27/08/2026

Rollover reminder: HSI warrants are tracking Sep 2026 futures from today

26/08/2026

What to make of stocks post-earnings season? Sign up to tomorrow's seminar to find out!

Seminar: What to make of Singapore and Hong Kong stocks this earnings season

Join Market Technician Binni Ong and Jamie Chung, Head of Macquarie Warrants Singapore as they unpack the key themes, market insights, and investment opportunities emerging from the latest earnings season.

As companies across Singapore and Hong Kong report their latest financial results, investors are faced with an important question: what do these earnings reveal about the outlook for the respective markets and the opportunities ahead?

In this seminar, Binni will examine the standout earnings releases, discuss how markets have reacted to the results, and highlight sectors and stocks that could be worth watching.

Binni will also uncover what broader macroeconomic trends may signal for investors in the months ahead.

Jamie will touch on how structured warrants can be used to capitalise on volatility based Binni’s view, alongside key risk considerations for warrants.

🎁Exclusive perk for attendees: Receive $30 cash credit* into your CGSi trading account if you trade structured warrants within a month from the seminar.

✍Sign up here: https://macq.co/6184B1bfEC

signing up to the seminar, registrants consent to the sharing of registration details with CGSi in order to facilitate the crediting of cash credits for attendees who trade warrants within a month from the seminar

*The $30 cash credit is sponsored by Macquarie and subject to terms and conditions

25/08/2026

UOL - is the recent sell-down drying up?

With a year-to-date (ytd) return of 9.5% based on yesterday's close at $9.57, UOL is currently the sector leader amongst pure-property play developers, outpacing the likes of peer City Dev (+3.1% ytd)

This is in spite of the 6% sell-down since UOL's earnings release on 12 Aug, with heavy profit-taking after its post-results spike

UOL's share price had spiked 2.4% to a two-month high of $10.17 after reporting a 23% increase in net income to $252.2 million, before retracing, consistent with profit-taking after a strong run into the print

🤖Technically, Bloomberg AskB notes that UOL is currently hugging the lower Bollinger Band (around $9.40–$9.50 area), suggesting the stock is in a stretched short-term sell condition and acts as support levels

AskB notes that while UOL's near-term technical bias remains mildly bearish, a reclaim of the 50-day moving average at $9.67 on volume would be the first signal of a trend reversal

👀Looking ahead, one of the share price catalysts could be UOL's Marina Square redevelopment- expected to add 702 residential units to the group’s pipeline - which is one of the most anticipated projects amongst analysts. UOL expects to receive written permission for the redevelopment from the URA in 3Q

🆕Investors keen to trade any short-term upside move in UOL shares can now do so via Macquarie's newly listed UOL call warrant OWZW (https://macq.co/6188B1s7yM) which costs SGD 0.058 while UOL is trading at SGD 9.58 and moves approximately 5.6% for a 1% move in UOL shares based on its current effective gearing level at 909AM today

24/08/2026

Top mover alert: Alibaba sinks 10% on record USD10 billion share placement

❗Alibaba shares are down 10.5% to HKD110.10 as of 957AM after announcing Hong Kong's largest share placement on record

Alibaba sold 710 million shares at HKD112.70 each, a discount of 3.6% to the closing price of Alibaba’s ADR on Friday and 8.4% below Friday's Hong Kong close

💰The company has sold off assets and pledged to spend more than 380 billion yuan over three years toward everything from chips and data centers to large-language model development. Its flagship Qwen offering is now the world’s most popular model family (Bloomberg)

📢In its earnings announcement last week, Alibaba has spent almost USD 10 billion in its quarterly AI investment in a bid to challenge Anthropic and OpenAI, causing profits to plunge more than 75% in the June quarter

Alibaba shares have clawed back some losses and is trading 8.3% lower to HKD112.30 as of 1030AM

✳✴Trending Alibaba call MHGW (https://macq.co/6180B1qQnO) is down 35% to SGD 0.026 while trending put warrant JCJW (https://macq.co/6181B1qQnP) is up 84.2% to SGD 0.035

24/08/2026

HSI warrant investors may wish to note that Macquarie's inventory on HSI call warrant RFCW is close to being sold out, and that the warrant may soon be quoted on widened offer spreads with low offer liquidity volumes. In such a situation, the bid price will remain fair regardless of whether it is sold out or not, and will continue to move with the HSI futures according to its live matrix: https://macq.co/6180B1qSUj

➡Investors can consider switching into other HSI call warrants OMBW (https://macq.co/6182B1qSUe) expiring in Sept or 9QDW (https://macq.co/6183B1qSU5) expiring in Oct

📞Feel free to call us at 6601 0289 should you have further queries on the pricing of our warrants.

24/08/2026

Gold - to keep pushing higher on "debasement" trade?

Gold prices are trading at a 3-month high following the US Treasury's intervention in the bond market which have driven yields and the US dollar lower

Last week, US Treasury Secretary Scott Bessent said that he was doubling the size of buyback operations in 10 to 30 year debt in a bid to send long-term borrowing costs lower

⚠The buyback operation however, will further balloon the US administration's borrowing costs which have already surpassed USD 40 trillion for the first time in history

💵The falling US dollar makes other investments such as gold more attractive, giving rise to the so-called "debasement" theme that helped drive gold's 65% rally in 2025 (Bloomberg)

✳The SPDR Gold call warrant EXQW (https://macq.co/6186B1qq32) that was first listed on 17 July, has since jumped more than 6 times more than the SPDR Gold Shares ETF's 15.7% increase

✴Gold put warrant SQGW (https://macq.co/6187B1qq3N) on the other hand, has fallen 65.6% to SGD 0.022 over the same period

Those keen to trade further upside in gold prices can do so via call EXQW while those who see a short-term pullback from current levels can consider put SQGW

We published a technical view on gold prices by top trader Joey Choy on 20 August: https://macq.co/6188B1qq34

21/08/2026

What to make of Singapore and Hong Kong stocks this earnings season? Come and find out at next week's seminar!

▶Sign up here: https://warrants.com.sg/education/seminar

*Dinner will be provided

Seminar: What to make of Singapore and Hong Kong stocks this earnings season

Join Market Technician Binni Ong and Jamie Chung, Head of Macquarie Warrants Singapore as they unpack the key themes, market insights, and investment opportunities emerging from the latest earnings season.

As companies across Singapore and Hong Kong report their latest financial results, investors are faced with an important question: what do these earnings reveal about the outlook for the respective markets and the opportunities ahead?

In this seminar, Binni will examine the standout earnings releases, discuss how markets have reacted to the results, and highlight sectors and stocks that could be worth watching.

Binni will also uncover what broader macroeconomic trends may signal for investors in the months ahead.

Jamie will touch on how structured warrants can be used to capitalise on volatility based Binni’s view, alongside key risk considerations for warrants.

🎁Exclusive perk for attendees: Receive $30 cash credit* into your CGSi trading account if you trade structured warrants within a month from the seminar.

✍Sign up here: https://macq.co/6184B1bfEC

signing up to the seminar, registrants consent to the sharing of registration details with CGSi in order to facilitate the crediting of cash credits for attendees who trade warrants within a month from the seminar

*The $30 cash credit is sponsored by Macquarie and subject to terms and conditions

21/08/2026

Alibaba - new call warrant available to trade post-results move

🆕Macquarie has listed a new Alibaba call warrant MHGW (https://macq.co/6182B1YBKm) that costs SGD 0.029 when Alibaba trades at HKD 114.50 and will move approximately 4.5% for a 1% move in Alibaba shares

📢Alibaba reported its much anticipated 1Q earnings last night, where revenue grew 9% to RMB268.95 billion while net profit dived 75%

The revenue was driven by accelerating AI cloud growth that offset domestic macro softness

The revenue of its key cloud division - key to Alibaba's ability to monetise AI - rose 45% to RMB 48.4 billion

"AI has become Alibaba's most certain growth engine," according to CEO Eddie Wu

The company aims to recoup its surging AI investments within three years, as annualized revenue from AI products nears USD10 billion this current quarter

Meanwhile, regarding the one business unit that investors have been concerned about - its quick commerce business, Alibaba has said that it will not turn profitable until fiscal 2029, as they continue a market-share grab against rivals such as Meituan

Alibaba's ADR shares dived 6% in pre-market trading but eventually finished 1.3% higher

🔃Alibaba shares opened 2.3% higher to HKD129.20 as of 930AM but has rapidly pulled back to trade 1% lower to HKD125 within ten minutes

✴Trending Alibaba put warrant JCJW (https://macq.co/6183B1YBKW) to clock gains of 13.3% to SGD 0.017

20/08/2026

Joey Choy: is $450 the next stop for SPDR Gold Shares ETF?

📈SPDR Gold Shares prices had been in a powerful uptrend through the second half of 2025, rallying from around $300 to a peak near $500 in late Jan 2026. That advance ended with a sharp reversal, and the SPDR Gold Shares ETF (O87) spent the following five months in a persistent downtrend, grinding from the highs down to a July low around $360

In more recent price action, top-tier remisier Joey Choy notes that momentum has started to shift. The ETF has recovered off those lows and is now consolidating near the $400 support zone, an area that repeatedly acted as support during the earlier uptrend and has since flipped into resistance

👨‍🏫Read on for an explanation of Joey’s view on the SPDR Gold Shares ETF and where it could be headed from here : https://macq.co/6183B19uOP

*Joey’s view does not represent that of Macquarie’s