Warrants Highlight

Quiet Finish to Strong First Quarter?

After witnessing huge moves in the last three months for most major equity indices, markets may see a relatively quiet week as we approach the end of the first quarter. On the macro front, apart from U.S manufacturing data and stats on consumer confidence, it looks to be a quiet week in terms of economic releases from major economies.

In Singapore, the 3,000 mark remains key and investors will be watching out for attempts to reclaim the level after the STI finished ten points shy on Friday. The STI’s last close of 2,990.08 takes their quarter to date returns to 13%, a 344 point gain.

Key Macro Data this week:

• Mon 26 Mar: U.S Pending Home Sales (Feb), U.S Dallas Fed Manufacturing Activity (Mar)
• Tue 27 Mar: HK Exports (Feb), U.S Consumer Confidence (Mar), U.S Richmond Fed Manufacturing Index (Mar)
• Wed 28 Mar: U.S Existing Home Sales (Feb)
• Fri 30 Mar: Japan Industrial Production (Feb), U.S Chicago Purchasing Manager (Mar), U.S U. of Michigan Confidence (Mar)

Quick look at Singapore single stock warrants to leverage on
Investors keen to take a leveraged view over single stocks in Singapore may wish to consider the below revised list of warrants for each respective single stock underlying.

Singapore Market Wrap

Flirting With The 3,000 Level

The STI traded around the 3,000 level last week but closed 0.7% lower week-on-week at 2,889.1 last Friday. Similar easing in equity markets were seen in U.S, European and major Asian bourses.

Apr Call STI 3150MBeCW120430 (P3EW) exercise level 3,150.*
Apr Put STI 3000MBePW120430 (P3FW) exercise level 3,000.*

Apr STI 2950MBeCW120430 (P1JW) exercise level 2,950.*
Apr STI 2800MBePW120430 (P1KW) exercise level 2,800.*

Longer dated Call STI 3100MBeCW130131@ (PA7W) exercise level 3,100.*
Longer dated Put STI 2800MBePW130131@ (PA8W) exercise level 2,800.*

YanLord pulled back on weak Chinese home prices
YanLord tumbled 6.3% wow and closed at $1.27 last Friday. Bloomberg reported China's February home prices posted the worst performance in a year with almost half of the cities monitored by the government falling from a year ago as the country maintained curbs on the property market.

Call Yanlord MBeCW120801 (O8XW) exercise price $1.15.*
Call Yanlord MBeCW120904 (P2TW) exercise price $1.60.*

Shipping related stocks witnessed heavier selling
With the strong rebound in equity markets post the Greek bailout, investors' concern about the pace of the global economic recovery returned and cyclically exposed stocks like container shipping firm NOL (-5.5% wow, $1.38) and Chinese shipyards Cosco (-3.3% wow, $1.165) and Yangzijiang (-4.3% wow, $1.33) witnessed heavier selling and underperformed the broader market.

Call NOL MB eCW120903 (P1AW) exercise price $1.50.*
Call NOL MB eCW120802 (P6HW) exercise price $1.90.*

Call CoscoCorMBeCW120801 (P1OW) exercise price $1.30.*
Call CoscoCorMBeCW130103 (K8BW) exercise price $1.80.*

Call YangzijiMBeCW130102 (O9LW) exercise price $1.20.*
Call YangzijiMBeCW120904 (P2UW) exercise price $1.50.*

Genting hits the jackpot with junket licenses approval
Genting witnessed a huge surge in turnover and price action last Friday after the Casino Regulatory Authority awarded two junket licenses for the first time. The junket operators will source clients for the casinos in exchange for a cut of the gamblers' turnover from the casino. Macquarie's call warrants over Genting were very actively traded last Friday.

Call GentingSMBeCW120904 (P2DW) exercise price $1.70.*
Call GentingSMBeCW120601 (O9GW) exercise price $1.90.*
Put GentingSMBePW120801 (P1BW) exercise price $1.60.*
Long dated GentingSMBeCW130103 (L2PW) exercise price $1.80.*

Overnight Market Wrap

Oil Rally on Iran Sactions

The S&P500 index rose 0.3% day-on-day after erasing its earlier drop. Crude oil prices rallied on a report that Iranian sanctions may reduce its exports by 300,000 barrels a day.

Stocks fell earlier in the day on weaker than expected US new home sales. The Chicago Board Options Exchange Volatility Index fell 4.8% on Friday, bringing its weekly gain to 2.4%.

Overnight Markets

Indices	Last	Change
STI	2990.08	0.4%
HSI	20668.80	-1.1%
DJIA	13080.73	0.3%
S&P 500	0.00	-
Nasdaq	3067.92	0.1%

Corporate News - Corporate Announcements

 Ex-Dividend Date
Wed 25 Apr: Keppel Corp ($0.26), SembMarine ($0.20)
Wed 26 Apr: STX OSV ($0.10)
Fri 27 Apr: OCBC ($0.15)
Fri 4 May: Wilmar ($0.031)
Mon 7 May: UOB ($0.40)
Wed 9 May: DBS ($0.28)