KUALA LUMPUR (Feb 5): Malaysia-listed Hang Seng Index-linked put warrants rose among Bursa Malaysia top gainers as investors bought the warrants as a hedge against broader market losses.
At 9:38am, seven of Bursa Malaysia's top ten gainers were Hang Seng-linked put warrants. The list includes HSI-H4D, which added 13.5 sen to RM1.04, and HSI-H4C, which rose 9.5 sen to 73.5 sen.
The FBM KLCI fell 19.29 points to 1,851.19 points as investors took their cue from higher US bond yields amid US interest rate hike expectation. Analysts said Malaysian shares may also be ripe for a correction due to overbought technical momentum.
Malaysian shares fell with Asian stock markets. Reuters reported that Asian share markets stumbled on Monday as fears of resurgent inflation battered bonds, toppled Wall Street from record highs and sparked speculation central banks globally might be forced to tighten more aggressively.
In Malaysia, CIMB Investment Bank Bhd wrote in a note today: "We maintain our end-2018 KLCI target of 1,880pts which is based on 15.9x 12M forward P/E. Investors are likely to focus on the earnings season and GE14 (14th Malaysian general election) newsflows in Feb."