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STI Could Not Hold 2,800
27 Jan 10

After crashing through the 2,900 levels last week, the STI could not hold its ground above 2,800 and tumbled 2.5% day-on-day (dod) to close at a one month low of 2,740.3 yesterday as a wave of strong selling hit regional bourses for yet another day....

Commodity related stocks sold down again
After taking a one day breather, commodity related stocks resumed their short term down trend, with Noble (-5.3% dod, $2.86), Olam (-3.2% dod, $2.40), Straits Asia (-5.7% dod, $2.17), Indofood Agri (-7.5% dod, $1.98), Golden Agri (-5.6% dod, $0.505) and First Resources (-4.5% dod, $1.07) plunging sharply. Wilmar escaped the sharp selling yesterday, falling just 0.6% dod to close at $6.65.

Call warrant NobleGrpMBLeCW100505 (JR2W) exercise price $3.20.*

Call warrant Olam MBLeCW100604 (J6QW) exercise price $3.00.*

Call warrant StraitsAMBLeCW100517 (J2VW) exercise price $2.60.*

Call warrant IndoAgriMBLeCW100503 (J2AW) exercise price $2.20.*

Call warrant FirstResMBLeCW100601 (JR5W) exercise price $1.10.*

Call warrant Wilmar MBLeCW100303 (I4DW) exercise price $6.80.*

Long dated Wilmar MBLeCW120103 (JA5W) exercise price $7.00.*


Genting dived on mandatory conversion of bonds
Late on Monday night, Genting announced on the SGX that it will mandatorily convert S$450 million of bonds into ordinary shares at the Conversion Price of S$0.95 on 9th February 2010. Investors fearing the potential share dilution sold off the shares heavily yesterday, leading to the stock plunging 9.1% dod to close at $1.10.

Call warrant GentingSMBLeCW100621 (J2NW) exercise price $1.20.*

Call warrant GentingSPMBLeC100401 (I3UW) exercise price $1.10.*

Long dated GentingSMBLeCW120402 (J2UW) exercise price $1.15.*


Property stocks smashed
Property stocks were not spared from the carnage yesterday, with the heaviest selloff seen in developers with an exposure to China on fears of a potential property bubble and the Chinese government tightening credit. Chinese developers Yanlord (-9.0% dod, $1.71) and Ying Li (-5.9% dod, $0.555) plunged, while CapitaLand, which expanded its footprint in China recently, tumbled 4.5% dod to close at a new 3 month low of $3.86.

Call warrant Yanlord MBLeCW100702 (KE4W) exercise price $2.00.*

Call warrant CapitalaMBLeCW100601 (J1ZW) exercise price $4.10.*

Put warrant CapitalaMBLePW100402 (JC2W) exercise price $3.80.*

Put warrant CapitalaMBLePW100604 (J6NW) exercise price $4.30.*

Long dated CapitalaMBLeCW120103 (JA7W) exercise price $4.10.*

 

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