《瑞銀窩輪》阿里牛熊首登場 看好留意阿里牛58875
疫情雖然未有緩和跡象，不過由於恆指在農曆新年後復市連跌三日，累跌近1800點，上星期大市出現明顯反彈，連升多日升並重上27000點之上。近日受拖累的新經濟股亦相繼出現反彈，騰訊(0700)和阿里巴巴(9988)分別累積反彈7.18% 以及7.68%，小米(1810)的反彈勢頭更厲害，期間反彈近12%，都跑贏大市同期升幅。阿里巴巴反覆吸引資金流入認購證，不過市場不明朗因素急增，令引伸波幅隨之而抽升，不少投資者都詢問阿里的牛熊證選擇，而港交所(0388)亦已將阿里納入可發行牛熊證的正股名單之中，第一批阿里的牛熊證將於2月10日星期一上場，投資者可留意。事實上牛熊證較少受引伸波幅以及時間值所影響，萬一投資者想避開引伸波幅或打算作中線部署，牛熊證或為另一個可考慮的選擇：
阿里牛證58875，收回價204.8港元，20年8月到期，週一新上市。
阿里牛證60361，收回價213港元，20年6月到期，週二新上市。
阿里熊證60354，收回價224港元，20年12月到期，週二新上市。
而美團(3690)因最受疫情拖累，早前跌勢非常急，同期雖然已回升超過2%，不過仍跑輸恆指。事實上，近來不少資金留意美團的淡倉，主要認為內地疫情加劇有機會嚴重打擊美團的餐飲、旅遊訂位等服務，如投資者看淡美團，可留意美團點評認沽21348，行使價94.23港元，20年6月到期，有效槓桿約5.1倍。不過近日有不少北水流入美團，如投資者認為北水能支持股價，可留意美團點評認購14894，行使價106.98港元，20年5月到期，有效槓桿約7.1倍。
更多窩輪牛熊資訊：瑞銀證網站: www.ubs.com/hkwarrant
窩證教學及巿況焦點短片:
https://www.youtube.com/channel/UCKw86qy4eBAInmd52MND45Q?view_as=subscriber卓素華董事
瑞銀亞洲股票衍生產品銷售部
本產品並無抵押品。 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。筆者為UBS AG的代表(作為證監會持牌人)，並未持有相關上市公司的任何財務權益。本資料由瑞銀刊發，其並不構成買賣建議、邀請、要約或遊說。結構性產品價格可急升或急跌，投資者可能會蒙受全盤損失。過往表現並不反映將來表現。牛熊證備強制贖回機制而可能被提早終止，屆時 (i) N類牛熊證投資者將不獲發任何金額;而(ii) R類牛熊證之剩餘價值可能為零。投資前應瞭解有關風險，並諮詢專業顧問及查閱有關上市文件。UBS Securities Hong Kong Limited為結構性產品之流通量提供者，亦可能是唯一報價者或巿場參與者。(C) UBS 2020。版權所有。~重要聲明:
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