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Warrants over HSI, Ekovest and Datasonic most active

Warrants Commentary (9 December to 13 December)

The overall warrants turnover for the second week of December rose a slight 0.5% week-on-week (w-o-w) to RM248.5mil, lifted by active trading in warrants over Malaysian counters. Trading in warrants over the Hang Seng Index (HSI) was slower, contributing 69% of turnover, while warrants over Malaysian counters contributed more than 30%.

Early last week, the HSI futures inched up 0.1% on Monday (9 Dec) before falling 0.4% to close at 26,416 points on Tuesday. Disappointing China export data, which fell 1.1% year-on-year (y-o-y), and investors’ worry on the trade deal decision mainly contributed to the the Hong Kong stock market’s decline.

The futures however rebounded from Wednesday, surging a total 4.8% for over three days, pushing the futures to surpass the 27,000 level and closing at 27,704 points last Friday, up 2.6%. The strong rally was on the back of reports that US and China reached an agreement on a “phase one” trade deal in principle. The US Chamber of Commerce, Myron Brilliant, stated that as part of the agreement, the US would postpone tariffs on around USD160bil of Chinese goods and make cuts in duties already in place (South China Morning Post, 13 Dec).

The put warrant HSI-H8F was investors’ favorite warrant last week with investors trading a total 236.3mil units; investors collected 31.3mil units of this warrant which skidded 80.0% w-o-w. The call warrant HSI-C7K was also popular with its volume traded recording at 200.8mil units.  Investors took profit on HSI-C7K as they net sold 15.9mil units of the warrant which rose 68.5%.

Locally, Ekovest had a strong rally last Friday, soaring 11.7% to close at RM0.905, extending its 2-day winning streak. Ekovest, together with Iskandar Waterfront City (IWC), were the top active counters on Bursa following news on the latest development on the Bandar Malaysia project. It was reported that IWH CREC, a joint-venture between IWC and China Railway, will hold a signing ceremony for the Bandar Malaysia Development this week (Malay Mail, 13 Dec). The huge jump in Ekovest attracted investors to trade more than 37mil units of EKOVEST-C3 (35.7% higher w-o-w) in a single day, landing it in the top five most active warrants over Malaysian counters last week. Other active warrants include  DSONIC-C11, FGV-C85, ECOWLD-CV and MYEG-C85.

Top warrants by volume traded:

Warrant name Volume
Issuer Exercise level/price Expiry date
HSI- H8F 236.3 Macquarie 26,400 30 Dec 2019
HSI-C7K 200.8 Macquarie 28,000 27 Feb 2020
HSI-C7F 84.3 Macquarie 27,400 30 Dec 2019
HSI-C7J 55.9 Macquarie 30,000 27 Feb 2020
DSONIC-C11 53.4 Maybank 1.00 30 Jul 2020

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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.