Warrants Market Week of May 30-June 3, 2022: The short-term outlook is positive

Warrants Market Week of May 30-June 3, 2022: The short-term outlook is positive

 

At the end of the trading session on May 27, 2022, the whole market had 67 gainers, 24 losers and 11 standstill stocks. 


Foreign investors were net buyers again with a total net buying of more than 2.3 million shares.

I. WORLD SECURITIES MARKET MOVEMENT



The warrant market ended the session on May 27, 2022 with 67 gainers, 24 losers and 11 unchanged.

Green color continued to spread on the warrant market thanks to the positive movement from the underlying market. At the end of session, warrants ACB (HM:ACB), FPT (HM:FPT), HPG (HM:HPG), KDH (HM:KDH), MWG (HM:MWG), VNM... all gained well. In which, CACB2202 increased by 114.29%, CHDB2204 increased by 79.55%, CACB2102 increased by 41.67%, CMWG2202 increased by 30.22%...



In contrast, warrants CVRE2202, CHPG2116, CTCB2202 dropped the most in the market with the red color of more than 40%, CHDB2202, CSTB2203, CTCB2112, CVHM2113, CVHM2203 fell from 14%-27%, the remaining stocks had popular declines around 5%.


The market's trading volume in the session of May 27, 2022 reached more than 32.7 million units, up 25.65%. The transaction value reached VND 25.3 billion, up 30.24% compared to the session on May 26, 2022. In which, CFPT2203 is the market leader in terms of trading volume and value.



Foreign investors were net buyers again on May 27, 2022 with a total net buying of more than 1.3 million shares. In which, CHDB2203 and CHPG2209 are the two warrants that are bought the most by foreign investors.

VALUATION OF WOMEN WORDS



Based on the fair valuation method with the starting date of May 30, 2022, the fair price bracket of warrants being traded on the market is shown as follows:


Note: The opportunity cost in the pricing model is adjusted to suit the Vietnamese market. Specifically, the risk-free bill interest rate (Government bill) will be replaced by the average deposit interest rate of large banks with term adjustment suitable for each type of warrant.


According to the above valuation, CMWG2203 and CNVL2203 are currently the two warrants with the most attractive valuations.


The higher the effective gearing of the warrants, the larger the increase/decrease movements in the underlying security will usually be. Currently CACB2102 and CVPB2202 are the two warrants with the highest effective gearing ratio in the market at 11.24 and 8.51 times respectively.




Economic Analysis & Market Strategy, Vietstock Consulting Department
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