Asia markets opened sharply lower on Monday (23 March) as geopolitical tensions escalated after the US issued Iran a 48-hour ultimatum to reopen the Strait of Hormuz, with Tehran threatening to shut the waterway indefinitely and target regional energy infrastructure in response.
Hong Kong stocks mostly sank in morning trading, with the $HSI(HSI)$ down 3.46% during the session. Amplifying the move, the HSI 7x Short DLC rose about 24%, while the HSI 7x Long DLC fell by a similar magnitude.
The $HSTECH(HSTECH)$ Index, meanwhile, was down about 3.1%, translating into a close to 22% rise for the HSTECH 7x Short DLC, while the HSTECH 7x Long DLC fell by a similar magnitude.
Singapore markets also opened on the back foot, with the $MSCI Singapore Index - main 2603(SGPmain)$ sinking about 2.4%. Tracking the underlying, the SiMSCI 7x Short DLC was up around 17%, while the SiMSCI 7x Long DLC fell by a similar magnitude.
With no clear end in sight to the Middle East conflict and markets continuing to whipsaw, investors can amplify their directional views through Long and Short DLCs.
See the full list of DLCs on dlc.socgen.com
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