Mid January 2026 Update

Purchases

JD 9618.HK: Added a small position at $115 HKD. Also sold a few puts (strike price $115, expires at end Dec 2026).

I feels that JD is undervalued, if one values it via sum-of-parts. But for JD share price to recover, JD need to substantially reduce its losses in food delivery war. I do not know when it will happen. I sold a few puts to earn put income if JD share price recovers. If it remained below $115, I am happy to buy JD at lower prices (after netting off the income from the put).

Lion-OCBC HangSeng Tech ETF: Bought a small position at $0.928 SGD via SRS.

SRS monies are restricted to those listed in SGX or ETFs / funds offered by platforms in Singapore. I have some cash in SRS account, so I decide to deploy them into HangSeng Tech ETF. I feel that next few years will be positive for China tech, as President Xi Jinping had told tech bosses in Feb 2025: "Get rich and promote common prosperity." 

Sales

Yangzijiang Shipbuilding BS6.SI: Sold remaining at $3.51, with ~50% gain (incl dividends)

Decide to sell all. I bought it in 2025, when US was threatening fees on Chinese-built ships. Now the share price has more than recovered and I am not interested to hold shipbuilder stock for long-term. As such, there is not much reason for me to hold on to the stock. So I decided to sold all.

Others

TIGR: Sold some puts (strike price $9, expires at mid Apr 2026).

I bought TIGR shares earlier at $9.24 earlier. Now, I wanted to add more shares at 10% lower  than my initial buy price. I am not sure if prices will fall 10%. So I decided to sell some puts. If prices remain above $9, I get to earn the put income. If prices fall below $9, I get to buy more TIGR at ~10% lower (after netting off the put income) than my initial buy price. Well, if TIGR falls 10% or more from $9.24, I will buy some shares directly to add to my existing position. 

Alibaba 9988.HK: Sold some puts.(strike price $142.5, expires at end Dec 2026).

I am not keen to own Alibaba. (Don't ask why.) But I am ok to buy it at lower price. So I sold some puts. If its price drops below $142.5 by end Dec, I am ok to own it at lower price. If not, I just earn the put income. 

Current Thoughts

The recent SAMR probe into TCOM has some slight impact on my portfolio. I have a small % of my portfolio in TCOM. I intend to hold TCOM, as I think that the probe should not cause long-term damage to TCOM's moat. Let's see what happens.

Insofar, I had not really owned any AI-related software/hardware stocks. As such, I do not benefit from the trending higher prices for AI-related stock. This is fine, as I don't really understand how long the AI trend will last and the valuations of AI-related stocks are high.