Turnover of Warrants, CBBCs Surges 55% YoY Last Yr to Highest Lv Since 2021: Societe Generale
In 2025, the total turnover of warrants and callable bull/bear contracts (CBBCs) surged by 55% YoY to HKD4.4945 trillion, the highest level since 2021, accounting for about 7.3% of the overall market turnover, according to Societe Generale.
Driven by the buoyant sentiment in the Hong Kong stock market, trading in warrants for some stocks surged. BABA-W (09988.HK), TENCENT (00700.HK), MEITUAN-W (03690.HK), and XIAOMI-W (01810.HK) saw their warrant turnover jump by more than 70% YoY. Related products linked to POP MART (09992.HK), SMIC (00981.HK), and CATL (03750.HK) were also in strong demand.
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AAStocks Financial News
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| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| HKEX (C) |
22156 |
530.5 (-) |
0.021 |
14.5 X |
| HKEX (C) |
16460 |
518.5 (-) |
0.028 |
14.0 X |
| HKEX (C) |
22950 |
488.2 (-) |
0.085 |
10.5 X |
| HKEX (C) |
23464 |
464.19 (-) |
0.113 |
10.3 X |
| HKEX (P) |
21911 |
359.8 (-) |
0.095 |
8.7 X |
| HKEX (Bull) |
63775 |
392 (394) |
0.044 |
18.8 X |
| HKEX (Bull) |
59084 |
384 (386) |
0.061 |
13.6 X |
| HKEX (Bear) |
69592 |
452 (450) |
0.073 |
11.4 X |
| HKEX (Bear) |
56049 |
442 (440) |
0.058 |
14.3 X |
| TENCT (C) |
23240 |
801.388 (-) |
0.047 |
10.0 X |
| TENCT (C) |
23672 |
729.38 (-) |
0.059 |
11.0 X |
| TENCT (C) |
14958 |
622.72 (-) |
0.052 |
7.7 X |
| TENCT (C) |
23539 |
610 (-) |
0.066 |
6.8 X |
| TENCT (C) |
14652 |
600.5 (-) |
0.077 |
6.4 X |
| TENCT (P) |
21910 |
499.8 (-) |
0.170 |
7.9 X |
| TENCT (P) |
14136 |
481.61 (-) |
0.051 |
5.1 X |
| TENCT (Bull) |
62024 |
535 (538) |
0.057 |
19.6 X |
| TENCT (Bull) |
60651 |
512.5 (515.5) |
0.106 |
10.5 X |
| TENCT (Bear) |
54653 |
628 (625) |
0.110 |
10.2 X |
| TENCT (Bear) |
56048 |
618 (615) |
0.097 |
11.5 X |
| SMIC (C) |
13036 |
102.98 (-) |
0.032 |
4.9 X |
| SMIC (C) |
20303 |
80.05 (-) |
0.087 |
5.5 X |
| SMIC (C) |
20302 |
73.85 (-) |
0.088 |
6.3 X |
| SMIC (P) |
21412 |
62.76 (-) |
0.109 |
4.2 X |
| SMIC (P) |
20487 |
52.45 (-) |
0.048 |
4.8 X |
| SMIC (Bull) |
62511 |
64.2 (64.8) |
0.038 |
17.8 X |
| SMIC (Bull) |
61315 |
62.2 (62.8) |
0.060 |
11.2 X |
| SMIC (Bear) |
59399 |
80.6 (80) |
0.105 |
6.4 X |
| SMIC (Bear) |
56080 |
77.1 (76.5) |
0.085 |
7.9 X |
| XIAOMI (C) |
24817 |
48.02 (-) |
0.083 |
7.3 X |
| XIAOMI (C) |
24451 |
45.02 (-) |
0.071 |
8.7 X |
| XIAOMI (C) |
25027 |
41.9 (-) |
0.134 |
2.8 X |
| XIAOMI (C) |
24819 |
37.12 (-) |
0.098 |
3.8 X |
| XIAOMI (Bull) |
68092 |
32.6 (33) |
0.027 |
12.9 X |
| XIAOMI (Bull) |
68096 |
31.1 (31.5) |
0.043 |
8.1 X |
| XIAOMI (Bear) |
59190 |
38.4 (38) |
0.029 |
12.0 X |
| XIAOMI (Bear) |
54661 |
37.4 (37) |
0.022 |
15.9 X |
| MTUAN (C) |
22670 |
135.98 (-) |
0.036 |
7.4 X |
| MTUAN (C) |
19912 |
130.43 (-) |
0.021 |
7.4 X |
| MTUAN (C) |
23148 |
123.79 (-) |
0.054 |
7.2 X |
| MTUAN (C) |
23239 |
98.93 (-) |
0.121 |
4.1 X |
| MTUAN (P) |
24511 |
86.83 (-) |
0.167 |
3.7 X |
| MTUAN (P) |
21395 |
82.83 (-) |
0.103 |
4.9 X |
| MTUAN (Bull) |
59129 |
86 (88.5) |
0.083 |
11.3 X |
| MTUAN (Bull) |
56356 |
85 (87.5) |
0.019 |
9.9 X |
| MTUAN (Bear) |
60669 |
104.5 (102) |
0.096 |
9.8 X |
| MTUAN (Bear) |
56158 |
101.5 (99) |
0.072 |
13.0 X |
| CATL (C) |
21916 |
629.38 (-) |
0.049 |
5.8 X |
| CATL (C) |
23008 |
580.5 (-) |
0.132 |
9.3 X |
| CATL (P) |
20933 |
398.68 (-) |
0.103 |
2.2 X |
| CATL (P) |
22397 |
388.68 (-) |
0.066 |
8.4 X |
| ALIBA (C) |
24890 |
201.08 (-) |
0.069 |
8.8 X |
| ALIBA (C) |
15286 |
190.1 (-) |
0.081 |
6.4 X |
| ALIBA (C) |
24949 |
185.1 (-) |
0.126 |
5.1 X |
| ALIBA (C) |
23064 |
164.09 (-) |
0.094 |
8.1 X |
| ALIBA (C) |
23237 |
160.1 (-) |
0.125 |
6.9 X |
| ALIBA (P) |
24655 |
154.9 (-) |
0.145 |
4.3 X |
| ALIBA (P) |
21859 |
144.9 (-) |
0.098 |
4.9 X |
| ALIBA (Bull) |
55811 |
151 (152.5) |
0.019 |
16.8 X |
| ALIBA (Bull) |
55221 |
147 (148.5) |
0.028 |
11.4 X |
| ALIBA (Bear) |
64176 |
176.5 (175) |
0.030 |
10.6 X |
| ALIBA (Bear) |
56045 |
171.5 (170) |
0.024 |
13.3 X |
| POMRT (C) |
24305 |
275.2 (-) |
0.213 |
4.9 X |
| POMRT (C) |
22880 |
260.12 (-) |
0.205 |
5.5 X |
| POMRT (P) |
14617 |
210 (-) |
0.104 |
5.7 X |
| POMRT (P) |
25318 |
182.78 (-) |
0.111 |
3.8 X |
| POMRT (P) |
23066 |
178 (-) |
0.061 |
5.2 X |
| POMRT (Bull) |
68297 |
215 (222) |
0.060 |
8.1 X |
| POMRT (Bull) |
61849 |
203 (210) |
0.082 |
5.9 X |
| POMRT (Bear) |
59952 |
277 (270) |
0.063 |
7.7 X |
| POMRT (Bear) |
59954 |
267 (260) |
0.047 |
10.3 X |
| Nvidia (C) |
10055 |
230 (-) |
0.045 |
9.4 X |
| Nvidia (C) |
11007 |
205 (-) |
0.215 |
5.2 X |
| Nvidia (P) |
10057 |
165 (-) |
0.162 |
5.6 X |
| TSLA (C) |
11036 |
590 (-) |
0.224 |
5.9 X |
| TSLA (P) |
11037 |
435 (-) |
1.090 |
2.8 X |
| TSLA (P) |
10011 |
370 (-) |
0.201 |
8.2 X |
