Supermax, JCY International in the limelight

LAST WEEK, the share price of Supermax Corp Bhd (Supermax) had a lacklustre performance, after Top Glove announced that it was not acquiring its two smaller rivals, Supermax and Adventa. In a filing with Bursa Malaysia on Tuesday, Top Glove clarified that it was in talks to acquire a glove manufacturer but did not reveal further information as the discussion had not been finalised. On the same day, Supermax denied rumours that it was in discussion with Top Glove to dispose of its assets at a premium.

Following the news on Tuesday, Supermax’s share price snapped Monday’s 4.6% gain, plunging 7.3% to close below the RM2.00 psychological barrier at RM1.89. The share price experienced a further drop the next day, falling an additional 2.1% on Thursday, before rebounding 0.5% to end at RM1.86 on Friday.

The news sparked interest among warrants investors, with two call warrants over Supermax listed in the top five most active warrants last week. SUPERMXC27 saw 47.4 million units changing hands while SUPERMXC29 had investors trading more than 20 million units. Over the week, investors net sold 1.5 million of SUPERMX-C29, reducing their positions as the warrant fell 38.5% week on week.

A call warrant over JCY International, JCY-C4 also stole the show last week, emerging as the second top traded warrant on the board. Out of the 14.9 million units of JCY-C4 traded on Monday, bullish investors took home 5.6 million units, as its underlying share price jumped 7.6% to RM0.565, extending its two-day gains. Demand in the warrant remained robust on Tuesday as investors traded 19.6 million units, buying a further 1.3 million units despite the mother shares falling 1.8%. Overall, JCYC4 had investors trading 38.8 million units over the week as the warrant tumbled 23.1% w-o-w.

Meanwhile, in foreign indices, the Hang Seng Index (HSI) had a rocky week. For the first two days, the index lost 1.2% or 332 points but rebounded 0.5% on Wednesday before falling again on Thursday, down 0.4% to finish at 28,202 points. The HSI, however, closed in positive territory on Friday, gaining 0.8% to finish at 28,438 points.

Among the HSI warrants that

To view the full list of structured warrants available on Bursa Malaysia, visit malaysiawarrants. com.my.

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.