HSTECH Falls 0.6% on AI Warning, HSTECH 7x Short DLC Rises 4.2%
Hong Kong-listed AI-related stocks came under pressure in early trading on Monday (14 September), after major AI companies sounded a cautionary note over the weekend and called for a more measured pace of technological development.
Chipmaker $SMIC(00981)$ led declines among DLC-covered underlyings, falling as much as 2.8% as of 9:45am Singapore time.
Amplifying the move, the SMIC 5x Short DLC (9DFW) gained up to approximately 14%, while the SMIC 5x Long DLC (WWZW) declined by a similar magnitude.
Tech giant $BABA-W(09988)$ also fell about 2.3%, lifting the Alibaba 5x Short DLC (RHDW) by 11.5%, and the Alibaba 5x Long DLC (IWWW) down a similar magnitude.
The broad declines dragged the $HSTECH(HSTECH)$ down by about 0.6%.
Tracking the underlying, the HSTECH 7x Short DLC (9B2W) rose ~4.2%, while the HSTECH 7x Long DLC (XRXW) sank about the same magnitude.
Attention now turns to a packed central bank calendar this week. The Fed is expected to announce its rate decision on Wednesday (16 Sept), followed by the Bank of England (17 Sept), and Bank of Japan (18 Sept).
Investors with a bullish view can consider Long DLCs for leveraged exposure, while bearish investors can consider Short DLCs for inverse exposure across a broad range of U.S., Hong Kong and Singapore single stocks and index underlyings.
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