Top movers alert: Nikkei puts jump as much as 48% following index's 4% selldown; Keppel call increases 40% on stock's rig monetisation plan
🔝Nikkei225 put warrants and a Keppel call warrant are amongst the top warrant gainers as of 130PM today, with gains of more than 40% following the Nikkei225's -4.2% selldown and Keppel's +2.7% outperformance in the Singapore market
Top warrant gainers today extracted from https://warrants.com.sg/marketdata/topgainloss/gainer/Today
🔻Conversely, Nikkei225 call warrants are invariably amongst the top warrant losers, as they fall between 29% to 36% in line with the Nikkei225's drop
Top warrant losers today extracted from https://warrants.com.sg/marketdata/topgainloss/loser/Today
➡ $Nikkei 225 Index(N225.JP)$ : the index has once against taken its cue from the carnage in the KOSPI, which is down 10.7%. Both indices have led the MSCI Asia Pacific Index to drop more than 3% to its lowest level since May
🤖Semiconductor, electronic component and precision equipment names are leading the Nikkei225 rout, following global doubts over returns on AI capital spending on the back of Nvidia's USD750 billion deals that are viewed by some as artificially inflating AI demand
Meanwhile, news reports on the development of immersion deep UV lithography tools by a Shanghai-based company have added to the pressure, especially on the likes of Japanese lithography equipment makers Nikon and Canon
Nevertheless, Bloomberg reports that the Nikkei225's Z-score on today's move registered at approximately -1.78, indicating today's decline while statistically significant, is not extreme relative to historical daily moves
➡ $Keppel(BN4.SI)$ : the company announced after-market yesterday a SGD 3.7 billion program to progressively monetise up to 10 of its legacy rigs through a new private fund, Keppel Offshore Fund
Investors may be looking out for special dividend announcements in the near future given that Keppel tends to pay out 10-15% of gross proceeds for transactions completed in the year as special dividends
In a separate announcement, the company said this morning that it has surpassed its end-2026 interim funds under management (FUM) target of SGD 100 billion ahead of schedule
These announcements have come ahead of the company's earnings report later this week on 30 July
✳Macquarie's trending Keppel call warrant $KeppelMBeCW261230(94BW.SI)$ (https://warrants.com.sg/tools/livematrix/94BW) is seeing investors sell back more than 500,000 units of the warrant following its 17.1% increase to SGD 0.082 as of 154PM. There is no Keppel put warrant.
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