US stock derivative warrants gain traction in HK

Global investors can hardly have missed the rally of the US stock market in 2023. During the first half of the year, over 400 derivative warrants (DWs) on US indices were listed on the Hong Kong Exchanges and Clearing (HKEX), up 67% from the second half of 2022, according to the exchange. Those underliers – consisting of the S&P 500, Nasdaq 100 and Dow Jones Industrial Average – have climbed 12%, 37%, and one percent respectively, year-to-date. “Amid continued market vol