To The Moon

📈This morning, $BABA-W(09988)$ rebounded as much as 4.8% to HKD 149.50 as of 933AM, to pare back some losses from its 3 consecutive days of losses amounting to -6.8% 👩‍🏫Notably, Alibaba is 5.2% higher from SGX Academy Trainer Binni Ong's key support level of HKD 142 as highlighted in a post published this week on 7 January: https://warrants.com.sg/marketnews/highlight/todayhighlight/7795 ✳✴Consequently, trending Alibaba call warrant $Alibaba MB eCW260505(WLWW.SI)$ (https://warrants.com.sg/tools/livematrix/WLWW) was up as much as 35% to SGD 0.027 this morning versus yesterday's price when Alibaba rebounded 5.2% to HKD 142, while trending put warrant $Alibaba MB

Over the past month, DBS has rallied another 8% to extend its outperformance from 2025 where it finished as the 10th best performing index stock on the Straits Times Index with a 29% share price gain This year so far, the stock is up another 3% to refresh a new record high of $58.40 yesterday DBS call warrants are amongst the top performing warrants over the last 4 weeks with gains between 55% to 108% given DBS’ 8% increase. Conversely, DBS put warrants are amongst the worst performing warrants during this period with losses of 65% to 92%​​​​​​​ Elsewhere, OCBC call warrant OAEW made a 42% advancement following OCBC’s 5.9% return over the past 4 weeks, while OCBC put warrant WQPW is amongst the top warrant losers with a 80% drop. Macquarie Warrants Singapore first posted about Macquarie Re

📉 $BABA-W(09988)$ shares are leading the Chinese e-commerce sector sell-off with a 4.6% tumble to HKD 143.90 (as of 135PM) following a newly released regulation on live-streaming activities that will go live on 1 February 2026 📢China's State Administration for Market Regulation announced today that online platforms cannot force merchants to join promotion campaigns or impose unreasonable restrictions on them ⛔Live-streamers are henceforth strictly prohibited from engaging in false advertising, commercial defamation, and the sale of illegal goods and services 🤳Other e-commerce names such as $KUAISHOU-W(01024)$ (-3% to HKD 73.25) are also trading lower today on the news 🤖Specifically for Alibaba, its weak

🔻The $SGX Nikkei 225 - Mar 2026(NK2603)$ index is trading 0.5% lower to 52,380 this morning, after following China's imposition of new export restrictions to Japan for items with potential military use 💫The Nikkei225 is currently trading close to its 31 Oct 2025 all-time record high, after rallying 4% in the first three trading days of the new year ✳Trending N225 call warrant $NKY 59000MBeCW260612(V3XW.SI)$ (https://warrants.com.sg/tools/livematrix/V3XW) is up 6 times more than the Nikkei225 i.e. 26.4% year to date to SGD 0.091 as of 950AM this morning ✴Trending N225 put warrant $NKY 47000MBePW260612(FRDW.SI)$ (https://warrants.com.sg/tools/livematrix/F

📝Macquarie Warrants Singapore last published a Macquarie Research (MQ) report on 24 September 2025 (https://warrants.com.sg/marketnews/highlight/todayhighlight/7731) which featured an upward revision of Keppel’s target price to $9.50. 📈Since the Macquarie Warrants post, Keppel’s share price has rallied 18.4% from $8.88 to $10.51 this morning (as of 905AM), while the Keppel call warrant we mentioned in the September article $KeppelMBeCW260330(MXDW.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/MXDW) has spiked 70.5% from $0.044 to $0.075 🚫There is no put warrant available over Keppel. 🆕This morning, we are sharing MQ’s latest upward price revision for Keppel and the reasons driving the upgraded target price 👀Read more for the full art

LATEST: HSI put FBKW resumes trading on tight spreads Warrant investors may wish to note that HSI put warrant FBKW is now quoted on tight spreads with high offer liquidity of 5M units once again, following a buy back of the warrants. Hence, the warrant is no longer sold out. Feel free to call us at 6601 0289 should you have further queries on the pricing of our warrants 🚨HSI warrant investors may wish to note that Macquarie's inventory on $HSI 25200MBePW260129(FBKW.SI)$ is almost fully sold out with inventory of just 600,000 units left ↔As such, the warrant is now quoted on widened offer spreads with low offer liquidity volumes of 100K units. 🟢The bid price however, will remain fair regardless of whether it is sold out or not, and will continue

🔥 $KUAISHOU-W(01024)$ shares are up 12.8% to HKD 74.85 - its most since March 2025 - as of 1001AM on surging trade volumes that were 8 times the 20-day average at 931AM ✳Macquarie's trending Kuaishou call $Kuaisho MB eCW260505(UIJW.SI)$ (https://warrants.com.sg/tools/livematrix/UIJW) is up 7 times more - +81.5% to SGD 0.049 versus Kuaishou's 11.6% gain as of 1020AM. There are no put warrants avail over Kuaishou 🥇Bloomberg reported that Kuaishou's AI model Kling ranks the first among all the graphics and design apps in South Korea as of 2 January 2026, according to SensorTower data 🔝SensorTower's data also shows Kling ranking among the top 10 apps in markets including US, Turkey and Vietnam The website

📊Last Friday, Singapore released their GDP numbers that exceeded the government’s forecast for 2025 📕Macquarie Research (MQ) released a research report on 2 January 2026 that broke down the details driving the GDP numbers and also listed their top picks for Singapore in 2026. Of them, OCBC tops the list 👀Read more for the full article containing an excerpt of MQ’s report and important disclaimers: 📝Macquarie Warrants Singapore first posted about MQ’s upgraded view on OCBC on 18 November 2025 (https://warrants.com.sg/marketnews/highlight/todayhighlight/7767). ✳✴Since the post, the stock has risen 9% while trending OCBC call warrant OAEW (https://warrants.com.sg/tools/livematrix/OAEW) has gained 56.8% to $0.058 while trending put warrant UVTW (https://warrants.com.sg/tools/livematrix/UVTW )

Please note that market-making for all structured warrants will only be until 1158AM today, with the market shut for the rest of the day.   There will be no market making for all structured warrants on Thursday, 25 December 2025, in conjunction with the Christmas Day holiday.  In addition, there will be no market making for structured warrants over the Hong Kong underlyings, i.e. Hang Seng Index (HSI), Hang Seng TECH Index (HSTECH) and all Hong Kong shares listed on the Hong Kong Exchange on Friday, 26 December Market making for Singapore shares, SIMSCI, Nikkei225 and US indices will resume on Friday, 26 December while warrants tracking Hong Kong underlyings will resume on Monday, 29 December.

🔻 $KUAISHOU-W(01024)$ shares tumbled as much as 6% to HKD 62.70 this morningThe company says it has suffered cyberattacks and reported the incident to the police and related authorities 📊Trading in Kuaishou shares is at almost five times its 20-day average following the news 🔃The stock has since recovered close to half its losses, trading down 3.3% to HKD 64.50 as of 1127AM 📉Kuaishou shares have lost a total 30% since its 2 October 2025 high of HKD 92.60 🗳Analysts polled by Bloomberg have a buy consensus of 4.78/5.0 with a 12-month target price of 87.22 ✳Macquarie's trending Kuaishou call warrant $Kuaisho MB eCW260505(UIJW.SI)$ (https://warrants.com.sg/tools/livematrix/UIJW) is down 16.1% to SGD 0.026