Warrants Highlight

Biosensors - Near 52-week Low

Singapore Market Wrap

The wait continues

The Singapore benchmark index drifted lower for a fourth day, as this news-driven market continues to await further updates on the European situation. The STI slid 0.3% day-on-day (dod) to close at 2,805.63 yesterday.

Call STI 2750MBeCW120831 (QP9W) exercise level 2,750.*
Call STI 2950MBeCW120831 (QE8W) exercise level 2,950.*
Put STI 2850MBePW120831 (QE9W) exercise level 2,850.*
Put STI 2650MBePW120831 (QQ0W) exercise level 2,650.*

Yanlord, CapitaLand gain on China's "sound momentum"
In the meanwhile, one significant economy that made an announcement was China, whose official at the commerce ministry said yesterday the nation's trade growth had "sound momentum" in June and a report showed a rise in lending and real-estate activity in China.

The announcement helped Singapore stocks with an exposure to China, higher. They include, Yanlord (+1.7% dod, $1.175) and CapitaLand (+0.4% dod, $2.65).

Call Yanlord MBeCW121203 (QR2W) exercise price $1.00.*
Call Yanlord MBeCW121002 (P8LW) exercise price $1.40.*

Call CapitalaMBeCW120903 (P0ZW) exercise price $2.582.*
Call CapitalaMBeCW120904 (QC5W) exercise price $2.979.*
Put CapitalaMBePW121203 (QR6W) exercise price $2.60.*

Smaller O&M names surprise
With most blue chip names closing lower along with the broad index, it was the smaller names that found favour with investors yesterday. Curiously, the smaller companies such as Ezra (+2.0% dod, $1.04), Ezion (+2.3% dod, $0.895) and STX OSV (+1.4% dod, $1.485) amongst the offshore and marine sector saw buying interest while leaders Keppel Corp (-0.1% dod, $9.98) and SembMarine (-1.1% dod, $4.40) were lower.

Call Ezra MBeCW121101 (QD8W) exercise price $1.10.*

Call EzionHldMBeCW121002 (P9CW) exercise price $1.10.*

Call STXOSV MB eCW121203 (QR8W) exercise price $1.50.*
Call STXOSV MB eCW120801 (P2VW) exercise price $1.80.*

Call warrant KepCorp MBeCW121002 (QK6W) exercise price $9.50.*
Call warrant KepCorp MBeCW121001 (QF0W) exercise price $10.50.*
Put warrant KepCorp MBePW121101 (QR5W) exercise price $9.00.*

Call warrant SembMar MBeCW120903 (K2KW) exercise price $4.43.*
Call warrant SembMar MBeCW120905 (P1FW) exercise price $5.058.*
Put warrant SembMar MBePW121203 (QR4W) exercise price $4.20.*
Long dated call warrant SembMar MBeCW130603 (M8NW) exercise price $5.59.*

Overnight Market Wrap

Consumer confidence dipped

US stocks recovered slightly after Monday's tumble. The S&P500 rebounded 0.5% yesterday to 1,319.99, with consumer services and oil & gas the best performing sectors. The US Conference Board announced that the consumer confidence index fell 62.0 in June, compared to 64.4 the previous month. Consumer spending accounts for about 70% of economic activity in US.

European indices closed flat as its common currency hovered around 1.25 levels. Spanish 3-month note yields spiked as the demand of such securities dropped. Both the Spanish and Italian bond yields are considered as the bellwether of European credit confidence.

Overnight Markets

Indices	Last	Change
STI	2805.63	-0.3%
HSI	18981.84	0.5%
DJIA	12534.67	0.3%
S&P 500	1319.99	0.5%
Nasdaq	2854.06	0.6%
China A50	7735.15	-0.3%