Macquarie Warrants Singapore

Macquarie Warrants Singapore Macquarie Warrants Singapore is an issuer and market-maker in Macquarie warrants listed on the SGX

Top movers alert: UOB - selloff extends while OCBC stabilisesYesterday, UOB fell 5.2%, its worst day since April 2025The...
09/10/2026

Top movers alert: UOB - selloff extends while OCBC stabilises

Yesterday, UOB fell 5.2%, its worst day since April 2025

The stock is down another 1.8% this morning to fall below the psychological $40 level to $39.51, taking its week-to-date loss to 9%

Comparatively, OCBC which is also down 9% week-to-date had gapped up 1.7% this morning after enduring a 10.1% carnage over the past two days

UOB's sell-off in the past three days is a drastic reversal from its performance earlier this week where the stock hit a new one-month high of $43.72 on Tuesday

🚨The bank remain the biggest underperformer in the Singapore banking sector on a year to date (YTD) basis, rising just 12.7% - below the STI's +15.8% YTD return - as well as DBS' +29.4% and OCBC's +46.2% YTD gains

👀Some of the key levels to watch in UOB from here include the stock's 200 day moving average at $39.10 and the lower Bollinger band (suggesting extreme overselling) of $37.92

❗The catalysts behind this week's sell-off in the banks stems from the macro backdrop of rising yields which may lead to higher marked to market losses on trading books, a hit to capital market activity, and a net interest margin contraction, according to analysts

Thus, one may be expecting a potential rebound should yields stabilise or pull back from the current 5.3% level, with UOB potentially benefitting the most after being the most oversold of the three local banks on a relative basis

Investors keen to trade the moves in the Singapore bank shares can consider the below trending warrants:

✳DBS call IJMW: https://macq.co/6188BGf4Ce
✴DBS put YAZW: https://macq.co/6181BGf4C9
✳OCBC call JXRW: https://macq.co/6182BGf4Ci
✴OCBC put JBXW: https://macq.co/6183BGf4Cc
✳UOB call 9R7W: https://macq.co/6184BGf4CY
✴UOB put VB4W: https://macq.co/6185BGf4Cl

Newly listed warrants to trade this week's strong Nikkei225 moves💫The Nikkei225 has delivered one of the strongest major...
08/10/2026

Newly listed warrants to trade this week's strong Nikkei225 moves

💫The Nikkei225 has delivered one of the strongest major index performances globally over the past year, up +49.9% on a total return basis

📈The index traded above the 70,000 level to this week on Tuesday, sitting roughly 3% below its all time record high of 72,832 on 22 June 2026

💨Recent index catalysts include this week's global AI and semiconductor rally, the yen's weakness past 158 against the USD which led Japan's currency official to warn against further depreciation and finally, the Bank of Japan rate hike announcement on 30 October where the market is still largely expecting the Japanese Central Bank to hold rates steady

Meanwhile, the rising Japanese government bond yields approached 2% this week - the highest level since 1995 while the 10-year yield is currently trading above 3%, implying that the market is expecting the Bank of Japan to tighten over the longer-term

Click here to visit our index warrants page and view the relevant disclaimer at the bottom of the page: https://macq.co/6183BG41Kf

Binni Ong: is the latest OCBC pullback a good opportunity?OCBC shares suffered its biggest one-day percentage fall since...
08/10/2026

Binni Ong: is the latest OCBC pullback a good opportunity?

OCBC shares suffered its biggest one-day percentage fall since April 2025, falling a 5.9% tumble.

Separately, Citi downgraded OCBC to "sell" on 6 October with a $27.50 target, citing flat 3Q earnings and a softer CET1 ratio(13.3%, down 70bps q-o-q) as risks to the stock's re-rating.

However, not all brokers share this view, with some maintaining a more positive outlook and continuing to rank OCBC among their top picks: https://macq.co/6186BG46kq

*This article is paid for by Macquarie Warrants Singapore. Binni’s view does not represent that of Macquarie’s

OCBC - dives more than 6% on analyst downgrade⚠OCBC is the worst blue chip performer on the Straits Times Index today, a...
07/10/2026

OCBC - dives more than 6% on analyst downgrade

⚠OCBC is the worst blue chip performer on the Straits Times Index today, as the stock heads yet lower in the PM session to be down 6.4% to $30.13 as of 215PM today

✳✴Consequently, trending OCBC call warrant JXRW (https://macq.co/6181BG239D) is seeing buying interest for 2M warrants as the warrant tumbles 37.6% to $0.073 while trending OCBC put warrant JBXW (https://macq.co/6182BG239E) is up 23.4% to $0.137

🔻OCBC was downgraded overnight by an analyst that downgraded the stock's rating to Sell and lowered their target price to $27.50

The analyst notes that OCBC will see a net interest margins contraction as SGD fixed deposit rates rise, as well as a normalisation of wealth-related income

Another analyst warned that the surging bond yields will hurt 3Q earnings for all Southeast Asian banks - with OCBC, DBS and CIMB cited as most exposed (Bloomberg)

Counterparts DBS and UOB are both trading in the red today, with DBS trading 1.1% lower to $77.68 while UOB is down 2.7% to $42.57

Trending DBS call warrant IJMW (https://macq.co/6183BG2391) and UOB call YUZW (https://macq.co/6184BG239G) are both seeing demand as the warrants fell 7% and 19.6% respectively

Tencent is seeing two major share price catalysts this week1⃣Yesterday, the company repurchased HKD 100.4 million shares...
07/10/2026

Tencent is seeing two major share price catalysts this week

1⃣Yesterday, the company repurchased HKD 100.4 million shares as part of its buy back programme

Tencent currently leads all Hong Kong listed companies in buybacks, with HKD 2.21 billion worth of shares being bought as of September 2026, according to Bloomberg

2⃣Secondly, DeepSeek - of which Tencent is one of the largest investors, is reportedly close to securing at least RMB 80 billion (USD 12 billion) in its latest funding round, blowing past its initial RMB 50 billion target for its planned 2027 IPO

💨Finally, the Huawei-Qualcomm licensing pact signed on 5 October - the first such pact between the two companies covering 5G technology that allows both companies access to each other's patent portfolios, is also providing a broader AI rerating tailwind for Chinese hyper-scalers including Tencent

Investors who foresee Tencent breaking out of the recent highs in the range of HKD 435-440 can consider Macquarie's trending Tencent call warrant WUHW, which costs SGD 0.017 while Tencent is trading at HKD 424.80 as of 930AM this morning, and which will move in greater magnitude than Tencent shares, according to its effective gearing level

For example, given Tencent's 0.9% increase this week, WUHW has gained 6.7% to SGD 0.016 as of 930AM

There are no put warrants available over Tencent

New S&P500 and Nasdaq-100 warrants with longer expiries to trade broad US market ahead of tomorrow's FOMC minutesMacquar...
06/10/2026

New S&P500 and Nasdaq-100 warrants with longer expiries to trade broad US market ahead of tomorrow's FOMC minutes

Macquarie has listed new S&P500 and Nasdaq-100 warrants expiring in March 2027, for those keen to take a broad view on US markets ahead of tomorrow night's FOMC minutes release
The US indices are enjoying a smooth start to October so far, particularly with the Nasdaq-100 December futures up 2.3% to 31,338 in four days. The S&P500 is up 1.1% to 7,832.75 (both as of 955AM today)

Consequently, Nasdaq-100 call warrant KRIW has risen 9 times more, by +21.1% to SGD 0.092, while S&P500 call warrant W2DW has also risen by 9 times more i.e. +10.5% to SGD 0.084

S&P and Nasdaq put warrants Y8AW and ERFW are down between 20% to 28% as of the time of writing

🆕This morning's newly listed Nasdaq-100 and S&P500 have longer expiries on 19 Mar 2027, compared to the above-mentioned warrants which expire on 11 Dec 2026, and come with a lower effective gearing, suitable for those keen to hold onto the warrants for a longer period

They are currently quoted on the tightest spreads and highest liquidity amongst the Nasdaq and S&P warrants

✳Nasdaq-100 call IKIW: https://macq.co/6185BG0K2F
✳Nasdaq-100 put RJNW: https://macq.co/6186BG0K22
✴S&P500 call JIFW: https://macq.co/6187BG0K2N
✴S&P500 put: 9C9W: https://macq.co/6188BG0K24

New City Dev call warrant as stock trades at 34% discount to book value after recent tumble📉Giant property developer Cit...
05/10/2026

New City Dev call warrant as stock trades at 34% discount to book value after recent tumble

📉Giant property developer City Dev is last week's standout underperformer following its 13% tumble

📢The stock rout followed from the company's 28 September reveal of its three year "GET+" strategy, which includes SGD 6 billion of divestments and SGD 5 billion of new investments - with 30% allocated to China and Japan

⚠On the day of the announcement, City Dev shares fell 8% from $8.26 to $7.59 - its largest single day decline since 2020

Following last week's share price loss, City Dev is now trading at a 34% discount to its net asset value per share of $10.74, according to Bloomberg

The stock is also now one of worst performing index stocks this year-to-date

Some analysts nevertheless retain their buy rating on the stock, noting that City Dev is likely able to address investor concerns over its GET+ strategy and achieve a return on equity that may exceed forecasts

Those interested to trade potential upward moves in City Dev shares may wish to consider Macquarie's newly listed City Dev call warrant V7GW (https://macq.co/6184BGIiII)

V7GW costs SGD 0.021 while City Dev shares are trading at $7.02 and will move approximately 6.5x more than City Dev shares, based on its current effective gearing as of 10AM

Keppel – NEXT 2026 better, bigger, bolder📈Keppel shares had been on a relentless, 7-day winning streak from 21 to 29 Sep...
02/10/2026

Keppel – NEXT 2026 better, bigger, bolder

📈Keppel shares had been on a relentless, 7-day winning streak from 21 to 29 September, driven by news that it was in advanced talks with StarHub on a potential deal for M1

✍While the stock has given back almost all gains since, on the back of a global sell-off, Macquarie Research (MQ) maintains its target price of $12.87 on the share, especially after Keppel held its annual technology forum NEXT earlier this week on Tuesday 29 September

👀Read more to find out the rationale for MQ’s view, as well as important disclaimers: https://macq.co/6180BGQtzM

Last day to earn $150 giveaway with CGSi Singapore!Do you know? Macquarie Warrants has ongoing rebate programs with Sing...
30/09/2026

Last day to earn $150 giveaway with CGSi Singapore!

Do you know? Macquarie Warrants has ongoing rebate programs with Singapore brokerages to offer cash rebates for warrant investors. One of them – a *$150 cash rebate giveaway with CGSi Singapore will end after today, whilst the rebateprogram with Lim&Tan Securities is ongoing until 30 November.

*Terms and conditions apply. Find outmore about the rebates below:

➡CGSi: https://macq.co/6188BGSCSo

➡Lim&Tan: https://macq.co/6189BGSCSU

Above rebates are sponsored by Macquarie Warrants Singapore.

HSI and ChinaA50 – Beijing’s “just enough” stimulus🇨🇳On Monday, China’s State Council, chaired by Premier Li Qiang, pled...
30/09/2026

HSI and ChinaA50 – Beijing’s “just enough” stimulus

🇨🇳On Monday, China’s State Council, chaired by Premier Li Qiang, pledged to strengthen counter-cyclical macro policy adjustments in response to emerging economic challenges and soft growth in Q3

🔛The policy follow-through has been immediate

📢Yesterday, China cut the rate on its 1-year pledged supplementary lending (PSL) - which offers cheap funding to the country’s policy banks to finance investment - by 25 basis points, while the rate on one-year PSL will be cut to 1.5% from 1.75%

They also announced an interest subsidy for residential mortgages targeting first-time buyers, an annual interest subsidy of one percentage point for up to five years for eligible mortgages up to RMB1 million - targeting lower-tier cities and affordable properties

All measures are effective from tomorrow, and is the first time in the history of the China that the central government has directly subsidized residential mortgage interest, marking a formal extension of property market policy from supply-side relief to demand-side burden reduction (BigGo Finance)

Macquarie Sales and Trading’s (S&T) released a note yesterday on 29 September 2026 with their observations from the State Council meeting and what they expect the Chinese government to do in the fourth quarter of this year

Read on for important disclaimers: https://macq.co/6181BGSAZl

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