KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
Alibaba stole the spotlight in the US options market, surging 10.17% in a single session as investors reacted to China’s renewed push to integrate AI into manufacturing and a fresh JPMorgan upgrade. The rally was accompanied by a sharp spike in options activity, signalling strong bullish sentiment.
Market Snapshot: Index Options
Total US index options volume: 4.72 million contracts (lower day-on-day)
Put/Call ratio: 1.19, indicating a cautious-to-defensive tone
S&P 500 next-session expiry:
Put open interest peak: ~6,900
Call open interest peak: ~7,000
Despite lighter overall volumes, traders remained active around key macro and earnings catalysts.
Single-Stock Options: Key Movers
Alibaba
Stock move: +10.17%
Options volume: 617,800 contracts
Put/Call ratio: 0.46 (bullish skew)
Alibaba shares jumped after China outlined plans to accelerate AI adoption in manufacturing and digital technologies, reinforcing confidence in long-term demand for cloud, AI infrastructure and enterprise solutions. The move was further supported by JPMorgan’s upgrade, which helped attract fresh momentum traders.
Intel
Stock move: -3.27%
Options volume: 412,600 contracts
Put/Call ratio: 0.67
Intel traded lower despite recent optimism following comments from President Trump on government involvement. The options flow suggests investors remain cautious, likely awaiting clearer execution progress and earnings visibility.
Most Active Options Names
Strategy
Highest put/call volume ratio: 1.36
Recent catalyst: Purchase of 13,627 Bitcoin for US$1.25 billion
Sentiment mixed after Clear Street cut its price target sharply
Palantir
Highest put/call open interest ratio: 0.98
Citigroup upgraded the stock to Buy, citing AI budget acceleration and defence modernisation tailwinds
Implied Volatility Watch
Ondas Holdings
Highest IV: 123%
Recently completed a US$1 billion registered direct offering
Applied Digital
IV jumped to 97.34%
Reported 250% YoY revenue growth, driving the stock up 34% this week
Investor Takeaway
The surge in Alibaba’s stock and options activity reflects renewed confidence in China’s AI-led growth narrative, particularly in industrial and enterprise applications. A low put/call ratio suggests traders are positioning for further upside, rather than hedging a pullback.
At the same time, elevated implied volatility across smaller AI and infrastructure names highlights rising speculative interest, underscoring the importance of disciplined risk management in a fast-moving market.
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