SGX Stocks and Warrants
New June Expiries to Trade Heightened Volatility on HSI
Warrants Highlight
New June Expiries to Trade Heightened Volatility on HSI
Macquarie is pleased to list the following new index warrants this morning:
| Code | Name | Type | Expiry | Exercise Price |
| P9LW | HSI20200MBeCW120628 | Call | 28-Jun-12 | 20200 |
| P9MW | HSI21200MBeCW120628 | Call | 28-Jun-12 | 21200 |
| P9NW | HSI19800MBePW120628 | Put | 28-Jun-12 | 19800 |
| P9OW | HSI20800MBePW120628 | Put | 28-Jun-12 | 20800 |
HSI takes sharpest drop since March; HSI volatility spikes
Yesterday, Hong Kong’s benchmark Hang Seng Index (HSI) fell the most in almost seven weeks, with the April HSI futures, which Macquarie’s HSI warrants follow, tumbling 2.1% or 430 points to 20,567, its steepest drop since March 6.
During the day, the HSI Volatility Index rose 6.7%, indicating that options traders are expecting an increased swing in the benchmark index in the next thirty days.
Dragged by dismal European markets, slowing Chinese manufacturing
The last two hours of trading alone accounted for 300 points of the drop on the HSI April futures. European markets had opened around the same time on a dismal note on news that the Dutch government failed to reach an agreement over austerity measures and incumbent French President Nicolas Sarkozy lost the first round of elections. Also, data had shown a more rapid contraction in the Euro-zone services and manufacturing than estimated. The Euro-zone PMI fell to 47.4 in April from 49.1 in March. Bloomberg’s poll of analysts had forecasted an increase to 49.3.
Manufacturing in China may also turn out lacklustre, as indicated by HSBC’s PMI Index, which came in at 49.1 for April. As a reading below 50 indicates contraction, this may suggest that Chinese manufacturing may shrink for a sixth month. Official PMI Manufacturing numbers will be out on May 1.
Singapore Market Wrap
Blood Shed Monday
It was a quiet start, but ended with a disappointing afternoon session. Global equities tumbled as German PMI fell short of expectations at 46.3. STI shed 1.1% day-on-day (dod) to 2,961.18 with losers outnumbering gainers by 3 to 1.
June Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
June Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*
Longer dated Call STI 3100MBeCW130131@ (PA7W) exercise level 3,100.*
Longer dated Put STI 2800MBePW130131@ (PA8W) exercise level 2,800.*
Ezra & Ezion sharp pull back
Both Ezra (-3.7% dod, $1.03) and Ezion (-6.3% dod, $0.89) tumbled again yesterday, hitting new April lows. Ezra announced its earnings results 2 weeks ago and had been falling for the past 6 trading sessions. Ezra holds around 5.6% of Ezion and both companies share the same Chairman, mr. Lee Kian Soo.
Call Ezra MBeCW120904 (P2CW) exercise price $1.25.*
Call EzionHldMBeCW121002 (P9CW) exercise price $1.10.*
Sakari breaks $2.00
Coal miner Sakari fell 2.5% yesterday to $1.98. The stock was trading at $1.84 at the beginning of the year and rallied 45.1% to $2.67 in February. Sakari has yet to announce its 1Q12 earnings results.
Call SakariMBeCW120702 (PG4W) exercise price $2.20.*
Overnight Market Wrap
Red day across US and Europe
US and European indices fell yesterday as a list of political events and economic data spooked the market. Over the weekend, Sarkozy lost the first round of presidential vote to Socialist Francois Hollande. The Dutch Prime Minister and cabinet resigned on Monday after failing to reach agreement over austerity measures.
The Eurozone PMI was lower than expected, while HSBC flash China PMI showed that the manufacturing activity continued to contract in April.
Overnight Markets
| Indices | Last | Change |
|---|---|---|
| STI | 2962.35 |
-1.1%  |
| HSI | 20624.39 |
-1.8% |
| DJIA | 12927.17 |
-0.8% |
| S&P 500 | 1366.94 |
-0.8% |
| Nasdaq | 2970.45 |
-1.0% |
Corporate News
Corporate Announcements
Results Announcement
Fri 27 Apr: DBS 1Q12
Mon 30 Apr: CapitaLand 1Q12, IndoFood 1Q12
Wed 9 May: UOB 1Q12, SembMarine 1Q12
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)
Mon 30 Apr: Cosco ($0.03), Golden Agri ($0.0184), SGX ($0.04)
Fri 4 May: Wilmar ($0.031), IndoFood Agri ($0.003)
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28)
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
