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HSI-HAF sustains top position amid holiday-shortened week

The first week of May saw a slight climb in warrants trading activity despite it being another holiday-shortened week as the Malaysian market was closed on Thursday in conjunction with Wesak Day. The total warrants turnover for the week came in at RM257mil, which represented a 14.1% rise compared to the previous week, with warrants over the Hang Seng Index (HSI) taking the top spot with RM111.1mil traded, making up 43.2% of the total warrants turnover, followed by warrants over shares which made up approximately 43.1%, while warrants over the FBM KLCI and S&P 500® Index (SP500) together constituted approximately 13.7%.

The HSI futures kicked off the month of May with a sour start on Monday, plunging 5.4% weighed by overnight losses at Wall Street after an extended holiday weekend the week before as prices succumbed to some vicious selling pressure before finishing 1,326.0 points in the red at 23,373.0. The downhill momentum, however, did not last as prices staged a comeback from Tuesday through Friday to recover from the selloff despite Hong Kong having posted its worst GDP decline on record following an 8.9% contraction in the first quarter from year-ago levels due to coronavirus shutdown (The Star, 4 May). 

Over the week, the put warrant HSI-HAF sustained the top spot as the top warrant by value traded with a turnover of RM35.7mil, followed by the call warrant HSI-C9S in second place registering a total value traded of RM34.0mil. HSI-C9S topped the list by volume traded with a total RM148.0mil unit traded and landed in the sold-out list on Monday amid the steep selloff in the HSI futures. The call warrant was no longer sold out on Wednesday after investors sold back their positions to book profits following the rebound in the underlying. Another warrant worth mentioning is the call warrant HSI-C9T which came in fourth on the list, clocking in a total RM15.8mil in total value traded. 

On the local scene, warrants over rubber glove maker Supermax were among the popular favourites for the week with SUPERMX-C86 coming in the third spot with a total traded value of RM16.3mil after the share scaled fresh peaks to end a staggering 20.2% higher for the week at RM2.98. Other notable warrants that were also actively traded were FBMKLCI-H8Z, MYEG-C92 and DSONIC-C13.

Top warrants by value traded:

Warrant name Value
(RM’mil.)
Issuer Exercise level / price Expiry date
HSI-HAF 35.7 Macquarie 24,600 28 May 2020
HSI-C9S 34.0 Macquarie 27,600 28 Aug 2020
SUPERMX-C86 16.3 RHB 1.90 27 Oct 2020
HSI-C9T 15.8 Macquarie 26,200 28 Aug 2020
FBMKLCI-H8Z 8.5 Kenanga 1,550 30 Nov 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.