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Warrants Implied Volatility
中國增發一萬億元人民幣國債，支持災後重建、災害治理等工程，另外隔夜美股造好，帶動恒指今早高開473點造好，不過開市後升勢未能延續，暫於17300-17400點附近反覆。 投資者如看好恒指，或可留意恒指牛65728，收回價16750點，槓桿比率25.6 倍，換股比率10000 兌 1，2024年02月28日到期；如看淡，或可留意恒指熊56645，收回價17800點，槓桿比率28.6 倍，換股比率10000 兌 1，2025年10月30日到期。
港府今天（25日）發表施政報告，市場憧憬有關樓市減辣、提振股市交投等相關措施，新地（0016）今早曾衝高4%上試10/20天綫約83元水平，不過其後升幅收窄回落，港交所（0388）今早隨大市高開，嘗試重返50天綫位置，暫高見298元，不過其後亦隨市場回落。
投資者如看好新地，或可留意新地購20079，行使價96.05元，實際槓桿8.5 倍，換股比率50 兌 1，2024年07月23日到期；如看淡，或可留意新地沽19962，行使價61.83元，實際槓桿7.3 倍，換股比率10 兌 1，2024年03月22日到期。
投資者如看好港交，或可留意港交牛65727，收回價255.5元，槓桿比率7.2倍，換股比率500 兌 1，2024年12月1日到期；如看淡，或可留意港交熊51423，收回價325元，槓桿比率8.4 倍，換股比率500 兌 1，2024年04月03日到期。
中國是次增發國債將全部通過轉移支付方式安排給地方，用於有關自然災害、防洪等災後重建、防災等工程，海螺水泥（0914）及中國建材（3323）高開超過半成上試10天綫位置，兩股上日（24日）均見年内低位。
投資者如看好海螺，或可留意海螺購18379，行使價24.8元，實際槓桿5.9 倍，換股比率10 兌 1，2024年06月20日到期；如看好國材，或可留意國材購19321，行使價5.23元，實際槓桿2.3 倍，換股比率5 兌 1，2025年09月22日到期。
本資料由花旗環球金融亞洲有限公司刊發，其並不構成任何建議、邀請、要約或遊說買賣結構性產品，也不構成結構性產品之銷售或配售。本資料僅屬參考性質，且僅以香港居民為目標對象。結構性產品屬複雜產品，投資者務須就此審慎行事。結構性產品並無抵押品，如發行人無力償債或違約，投資者可能無法收回部份或全部應收款項。結構性產品價格可急升或急跌，投資者或會蒙受全盤損失。投資者購買時，所依賴的是發行人的信譽。有關資產過往表現並不反映將來表現。花旗環球金融亞洲有限公司為結構性產品之流通量提供者，亦可能是其唯一巿場參與者。花旗環球金融亞洲有限公司、Citigroup Global Markets Europe AG及其聯屬公司均不對結構性產品: (i) 能否於預定上市日上市， 及(ii)其上市後之流通量，作出任何聲明或保證。投資者應仔細查閱基本上市文件（包括基本上市文件增編）及補充上市文件內有關結構性產品之相關風險及詳情，自行評估風險，並諮詢專業意見。花旗環球金融亞洲有限公司、Citigroup Global Markets Europe AG、其聯屬公司及董事及僱員可能持有不時在本資料所述證券之權益（作為主事人或其他）。花旗環球金融亞洲有限公司、Citigroup Global Markets Europe AG及其聯屬公司亦可為本資料所述任何公司或發行人之證券或衍生工具於市場作價。花旗環球金融亞洲有限公司、Citigroup Global Markets Europe AG及其聯屬公司亦可能為本資料提述證券的有關公司及其聯屬公司提供其他服務。本資料僅以香港居民為目標對象。在其他國家下載本資料可能屬違法，假如閣下因下載本資料而違反閣下居住所在國家的法律，花旗環球金融亞洲有限公司、Citigroup Global Markets Europe AG及/或其聯屬公司均一概不承擔責任。香港境外人士不應倚賴本材料或據此行事。本資料嚴禁於適用法律或法規不容許分發、傳送、披露或發佈的地區複製、分發、傳送、披露或發佈給當地人士。為遵守適用的法律及法規，本資料的內容僅為香港居民而設， 閣下不應在香港境外瀏覽及/或下載本資料。