Saxo’s Client Positioning Overview – Week ending 25th Oct 2024

What does it mean?

1. The holdings in Coca-Cola increased by 3% after its Q3 earnings that beat estimates and highlighted resilience amid weaker economic conditions but strong North American Sales Growth.
2. Adobe, Alphabet (C Share) and Micron shares all experienced a 1% gain in the number of clients holding their shares.
3. In terms of net exposure, Micron shares saw the largest decrease, dropping by 3%.

Top 5 Major Stocks with the highest week-on-week % decrease in holdings

What does it mean?

1. Tesla shares experienced a 4% decline in the number of clients holding the shares, possibly due to profit-taking after the shares surged 22% last week on the back of its Q3 earnings results that signalled growth.
2. The holdings in the rest of the instruments experienced a relatively similar decrease of 1% in the number of clients trading the shares last week.
3. In terms of the change in net exposure, Grab Holdings shares experienced an increase at 7.1% after Daiwa Capital initiated coverage on the stock with an Outperform rating.

Top 5 ETFs with the highest week-on-week % increase in holdings

What does it mean?

1. Holdings in the JP Morgan Equity Premium Income ETF, the iShares Silver Trust ETF and the iShares MSCI World ETF increased the most by 3%.
2. The iShares Silver Trust ETF, which reflects generally the performance of the price of silver also saw a 11% increase in net exposure following a significant breakout over the past week.
3. Similarly, holdings in the iShares Gold Trust ETF also rose by 2% after the gold has surged to a new record.

Top 5 ETFs with the highest week-on-week % decrease in holdings

What does it mean?

1. Holdings in the ProShares UltraPro QQQ ETF, the ARK Autonomous Technology & Robotics ETF, the Nikko AM Singapore STI ETF, and the US Global Jets ETF experienced a decline of 2% in the number of clients trading the ETF last week.
2. The US Global Jets ETF, tracking the performance of U.S. and international passenger airlines, aircraft manufactories etc. saw a significant 8.4% decline in net exposure, likely due to the headwinds faced by airlines as well as ongoing strike and challenges for Boeing.

Position Change in the Top CFD Indices (week-on-week)

What does it mean?

1. The Japan 225 index saw the largest increase of 6% in the number of clients trading the index, with a 12.9% increase in the number of clients holding long positions mas political instability fuelled a weaker yen benefitting Japanese exporters.
2. On the other hand, the Australia 200 index experienced a 10% decline in the number of clients trading the index.
3. In terms of % change in long positions held by clients, the US 30 Wall Street saw the highest increase at 27.2%, followed by the Germany 40 index at 21.7%.
4. Meanwhile, the Hong Kong Index still has the highest % of clients with a long position, standing at 83%, driven by optimism in China stocks.

Position Change in the Most Popular FX pairs (week-on-week)

What does it mean?

1. Among FX pairs, GBPJPY had the highest increase in % of clients trading the pair at 29%, followed by SGDJPY at 11%.
2. In terms of % change in long positions, AUDUSD experienced the highest increase at 10.1%, followed by GBPJPY pair at 8.2%.
3. Meanwhile, USDSGD saw a decline of 4.7% in long positions held by clients.

Note:

• The percentage change in number of clients refers to the total change in number of clients trading the instruments.
• The percentage change in net exposure refers to the change in total value of positions held by clients.
• The percentage changes are calculated based on a comparative analysis between the data as of the end of trading day on 21st Oct 2024 and 25th Oct 2024.