📉 HSI futures trend downwards; HSI-CYC in focus

The Hang Seng Index (HSI) November futures trended downwards in the morning session to trade 2.4% lower at 20,336 as of the lunch break. Large tech companies weighed on the index, while names in the financial sector saw a mixed performance amid cautious sentiment ahead of U.S. elections next week. (RTHK, 30 Oct)

• With the moves in the futures, HSI-CXY saw net buying in the early morning, with this warrant added to the sold-out list. Investors then turned to focus warrant HSI-CYC, net buying over 13.8M units as the warrant’s price fell over 20% as of the time of writing.

• Check out our focus HSI call and put warrants here.

💥 Alphabet 3Q profit beats estimates; U.S. Big Tech earnings in the week ahead

• Google’s parent company, Alphabet Inc, reported 3Q earnings after the market close on Tuesday. Revenue for the quarter came in at $88.3bil, with the bulk of this revenue driven by Google's core advertising business. Meanwhile, net income came in at $26.3bil for the quarter. (CNBC, 30 Oct)

• For the week ahead, Amazon, Apple, Meta and Microsoft are due to release their 3Q earnings, which, alongside the US elections and data releases, could pose as market movers in the coming days.

• Investors who wish to gain leveraged exposure to the U.S. indices may do so via our focus call and put warrants here.

⚡ YTL PowerSeraya launches 600MW power plant in Singapore

• YTL PowerSeraya has begun construction on a 600 MW hydrogen-ready Combined Cycle Gas Turbine power plant at Pulau Seraya Power Station, with an estimated investment of SDG800mil in Singapore. The project aims for completion by December 2027 and stands as a significant milestone in Singapore’s transition to sustainable energy.

• Shares of YTL Power (YTLPOWR) closed at a low of RM3.00 last Friday, before extending gains for the past two consecutive days into this morning to trade at RM3.14.

• Investors who wish to gain exposure to YTLPOWR may do so via our call warrant YTLPOWR-C69, which trades at a bid/ask price of RM0.020/0.025.12714:43