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.citiwarrants.com 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.
恒指早前一路高歌猛進,近期攀升至24000點水平附近見有反覆,上周連續兩日留下上升裂口後,上周五(7日)衝高回落,今天(10日)顯著回吐,截至下午2時,日内低位低見23632點,剛好回補上周四(6日)位於約23636點的上升裂口,根據花旗輪證網站牛熊證街貨分佈圖,過去5日恒指平均上落波幅約524點,牛熊重貨分別位於23200-23299及24700-24799點區間,分別累積974及1078張相關對冲期指合約張數,恒指牛熊街貨比例介乎54.5:45.5。 投資者如看好恒指,或可留意恒指牛61054,收回價23128點,槓桿比率34.6 倍,換股比率10000 兌 1,2026年07月30日到期;如看淡,或可留意恒指熊54542,收回價24700點,槓桿比率24.7 倍,換股比率10000 兌 1,2025年04月29日到期。
内媒報導,連接全國衆多超算中心的中國國家超算互聯網平臺,接入阿里旗下通義千問大模型,阿里(9988)今天隨大市有回吐,走勢仍處於10天綫之上,近期反覆上試140元水平。 投資者如看好阿里,或可留意阿里購14038,行使價175.08元,實際槓桿5.9 倍,換股比率50 兌 1,2025年07月21日到期;如看淡,或可留意阿里沽14573,行使價125.15元,實際槓桿4.1 倍,換股比率100 兌 1,2025年08月18日到期。
强勢股小米(1810)今天同樣隨大市回落至10天綫附近位置,創辦人雷軍表示,小米汽車目前在全球考察各地市場和各地政策,籌備在合適時候出海,不過目前優先聚焦解決國內訂單排隊及如何擴產的問題,所以全球布局可能還需要時間準備。 投資者如看好小米,或可留意小米購14240,行使價83.83元,實際槓桿5.3 倍,換股比率10 兌 1,2025年08月25日到期;如看淡,或可留意小米沽14006,行使價34元,實際槓桿5 倍,換股比率10 兌 1,2025年08月20日到期。
港股踏入業績期,恒指暫時於去年年高位23241點水平門前受阻,今天(20日)高位回吐,截至上日(19日),恒指5天平均上落波幅約580點,牛熊街貨比例約59:41。 投資者如看好恒指,或可留意恒指牛55562,收回價22150點,槓桿比率39.1 倍,換股比率10000 兌 1,2025年07月30日到期;如看淡,或可留意恒指熊56030,收回價23150點,槓桿比率42.8 倍,換股比率10000 兌 1,2026年12月30日到期。
美團(3690)擬為外賣騎手繳納社保計劃,引投資者憂慮其業務成本上升,美團股價今天裂口低開承壓挫逾半成,下試20日綫水平。 投資者如看好美團,或可留意美團購29030,行使價234.08元,實際槓桿6.5 倍,換股比率100 兌 1,2025年06月23日到期;如看淡,或可留意美團沽28476,行使價124.3元,實際槓桿8.4 倍,換股比率50 兌 1,2025年04月23日到期。
阿里(9988)今晚公佈業績,另外,根據内媒報導,早前確認與阿里合作的蘋果公司,其最新有關Apple Intelligence的資料顯示,該AI功能將支持簡體中文。 投資者如看好阿里,或可留意阿里牛55575,收回價106元,槓桿比率6.2 倍,換股比率500 兌 1,2026年02月27日到期;如看淡,或可留意阿里熊56018,收回價131元,槓桿比率13.3 倍,換股比率100 兌 1,2026年12月31日到期。
隨著中國出臺刺激股市政策,以及外資回流中港市場,恒指自上月中始展開反彈,升勢凌厲,上日14天RSI逼近91,技術上屬嚴重超買水平,日内高位曾觸及22500點水平,與9月11日最低位16964點相比,升幅達5500點。連升6日後,恒指今早見顯著回吐,回吐幅度一度超過900點。 投資者如看好恒指,或可留意恒指牛51789,收回價20621點,槓桿比率22.2 倍,換股比率10000 兌 1,2026年09月29日到期;如看淡,或可留意恒指熊51788,收回價22800點,槓桿比率17.7 倍,換股比率10000 兌 1,2025年04月29日到期。
騰訊(0700)隨大市向上突破,升破400元前阻力水平後,股價延續升勢,重返2021年末至2022年初水平,今天隨市場回吐。 投資者如看好騰訊,或可留意騰訊牛51583,收回價400元,槓桿比率7.1 倍,換股比率500 兌 1,2025年06月30日到期;如看淡,或可留意騰訊沽27139,行使價319.8元,實際槓桿6.3 倍,換股比率100 兌 1,2025年06月20日到期。
阿里(9988)獲北水加倉,自納入港股通交易以來越升越有,股價近日重返紅底。 投資者如看好阿里,或可留意阿里牛51582,收回價92元,槓桿比率6.2 倍,換股比率100 兌 1,2025年06月30日到期;如看淡,或可留意阿里沽27777,行使價82.93元,實際槓桿3.2倍,換股比率50 兌 1,2025年09月23日到期。
恒指自7月中上旬以來反復受制於10天綫,上周四(11日)收市終於成功站於10天綫之上,上周五(12日)則續以窄幅整固爲主,全日高低波幅不超過200點。今早(15日)低開逾百點之後,維持於20000-20300點區間反復,本月高位20300點水平或為短期阻力。近期大市交投持續淡靜,截至上周五(12日),大市成交金額已連續8日低於1000億。 投資者如看好恒指,或可留意恒指購16331,行使價21600點,實際槓桿14.3倍,引伸波幅23.4%,換股比率6200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11.9倍,引伸波幅27%,換股比率8600兌1,2022年10月28日到期。
騰訊(0700.HK)周三(17日)公佈業績,踏入8月以來,騰訊持續於300元附近位置好淡爭持,此水平亦是3月中旬低位所在,股價自7月起持續下行並受制於10天綫附近位置。輪證資金流方面,上周總計(8日至12日)樂觀/悲觀資金流比例約6:4,其中周一至三(8至10日)騰訊股價皆收在300元之下,而這三日輪證樂觀資金流接近7-8成,而周四及周五(11至12日)騰訊股價輕微反彈至300元之上,悲觀資金流則分別有74%及52%,比例高於樂觀資金流,或反映輪證投資者偏向趁低吸納看好產品,或沽出看淡產品獲利,並在股價短期反彈時進行相反操作,投資者取向或以炒波幅爲主。 投資者如看好騰訊,或可留意騰訊購22222,行使價375元,實際槓桿10.8倍,引伸波幅37.1%,換股比率100兌1,2022年11月29日到期;如看淡,或可留意騰訊沽14696,行使價248.88元,實際槓桿7.1倍,引伸波幅42.2%,換股比率100兌1,2022年11月29日到期。
港交所(0388.HK)同樣將於周三(17日)放榜,近日股價沿100天綫約350元水平好淡爭持。今日(15日)中午報347.4元,較6月下旬頂部404.2元回落接近15%。 投資者如看好港交,或可留意港交購14573,行使價390元,實際槓桿10.1倍,引伸波幅31.4%,換股比率100兌1,2022年11月29日到期;如看淡,或可留意港交沽28040,行使價318元,實際槓桿6.6倍,引伸波幅32.5%,換股比率100兌1,2022年12月29日到期。