Saxo’s Client Positioning Overview – Week ending 23rd Aug 2024 Saxo’s Client Positioning Overview – Week ending 23rd Aug 2024 Saxo’s Client Positioning Overview – Week ending 23rd Aug 2024

Saxo’s Client Positioning Overview – Week ending 23rd Aug 2024

Equities 10 minutes to read
Hay Thi

Market Specialist

The data below illustrates the week-on-week positioning changes of Saxo Singapore’s clients across various asset classes for the week ending on 23rd Aug 2024.

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

week35_1

What does it mean?

  1. Micron Technology experienced a 2% increase in the number of clients holding the stock due to overall market strength as markets expected Fed Chair Powell to indicate a September rate cut at the Jackson Hole conference.
  2. Positions in tech stocks such as Intel, CrowdStrike and Alphabet Inc. rose too, with a slight % change in net exposure.

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

week35_2

What does it mean?

  1. Netflix saw 2% decline in the number of clients holding the stock, possibly due to profit-taking after its earnings report last week, which resulted in Netflix shares hitting a record high, on the back of upbeat advertising news.
  2. Positions in SATS also declined by 3%, likely due to profit-taking after the shares climbed following the company’s financial performance announcement on 20th August.

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

week35_3

What does it mean?

  1. There is a notable increase in the number of clients investing in ProShares UltraPro Short QQQ ETF, with a 14.6% increase in net exposure.
  2. We also observe an increase in Schwab US Dividend Equity ETF that tracks high-quality U.S companies paying consistent dividends, as well as iShares Bitcoin Trust ETF, Vanguard S&P 500 Acc UCITS ETF and Vanguard Value ETF.

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

week35_4

What does it mean?

  1. The VanEck Vectors Gold Miners ETF saw 3% decline in the number of clients holding the ETF, with a small % increase in net exposure.
  2. There was also a 2% decline in the iShares 20+ Year Treasury Bond ETF and the iShares USD Asia High Yield Bond Index ETF, with a slight % change in net exposure.

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

week35_5

What does it mean?

  1. The US Tech. 100 NAS and Australia 200 indices saw the highest increase in % of clients trading last week.
  2. The US Tech. 100 NAS had the largest increase in net exposure, followed by the Japan 225 index.
  3. Meanwhile, the US SPX500 index saw the biggest decline in net exposure.
  4. There was a 4.8% increase in clients with long positions on the US Tech.100 NAS but a 13.6% decrease in clients with long positions on the Australia 200.

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

week35_6

What does it mean?

  1. Among FX pairs, USDCHF had the highest increase in % of clients trading the pair, followed by USDSGD and AUDJPY.
  2. In terms of net exposure, NZDUSD experienced the highest % increase, followed by USDCAD.
  3. The EURJPY pair experienced the largest % decrease in net exposure.
  4. There was a 15.0% increase in clients holding long positions on EURJPY. However, there was a 22.9% decrease in clients holding long positions on EURUSD.

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 16 Aug 2024 and 23 Aug 2024.  


In Saxo Capital Markets Risk Warning, you will find more information on leveraged products and the associated risks. Trading in financial instruments carries risk and may not be suitable for you. Please refer to Saxo Capital Markets’ fullDisclaimerhere. The information presented are historical and are not indicative of future performance.

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