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Hibiscus added to MSCI Global Small Cap Indexes

Warrants Commentary (12 Nov to 16 Nov)

Warrants over Hibiscus Petroleum (Hibiscus), an independent oil and gas upstream exploration and production company, were popular last week as news broke last Thursday (14 Nov) that Hibiscus was added to the MSCI Global Small Cap Indexes. The share price rose 5.9% in total on Thursday and Friday last week, ending the week at RM1.07.

The call warrant over Hibiscus, HIBISCS-CI, had the highest traded volume among all warrants over Malaysian shares, with 55.3mil. units traded last week. The warrant price rose 18.2% to RM0.065 in the last two days of last week, in line with the 5.9% rise in Hibiscus’ share price. Bullish investors collected 8.8mil. units of this warrant over the week.

Another warrant over Malaysian shares, INARI-C25, also made the top ten traded warrants by volume with 38.9mil. units traded. The call warrant over Inari Amertron saw 8.9mil. units net bought by investors as the warrant price fell 27.3% w-o-w to close at RM0.040 on Friday last week, in line with the underlying’s 4.8% w-o-w decline.

As for index warrants, once again warrants over the Hang Seng Index (HSI) took up a large percentage of the warrants market, accounting for 74.6% of the total warrants turnover of RM463.8mil. Put warrant HSI-H4O emerged as the top traded warrant last week with 213.4mil. units traded. On Monday and Tuesday, as the HSI futures closed in the green, investors collected 12.4mil. units of this put warrant in anticipation of a decline. On Wednesday, when the HSI futures fell 1.1%, investors took profit on 5.3mil. units as the warrant price jumped 9.8%.

As the HSI continued to be volatile for the rest of the week, HSI-H4O continuously saw active trading, with investors collecting 15.6mil. units on Thursday and selling back 4.4mil. units on Friday. All in all, investors took home a net amount of 18.2mil. of this warrant as the warrant price fell 25.2% w-o-w, moving in an opposite direction to the rise in the HSI futures.

The second most popular warrant last week was the call warrant over HSI, HSI-C3X, which saw 195.1mil. units traded. HSI-C3X, which moves in line with the underlying, saw 11.0mil. units net sold by investors over last week as the warrant bid price rose 21.4% w-o-w to close at RM0.595 last Friday.

Top 5 warrants by volume traded:

Warrant name Volume
Issuer Exercise level Expiry date
HSI-H4O 213.4 Macquarie 25,400 30 Jan 19
HSI-C3X 195.1 Macquarie 26,800 28 Mar 19
HSI-H4V 137.0 Macquarie 22,800 28 Mar 19
HSI-C3W 116.9 Macquarie 28,200 28 Mar 19
HSI-C3Q 64.3 Macquarie 29,200 30 Jan 19

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Provided for Malaysian residents information only. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice.