China-linked put warrants fall after latest monetary easing

China-linked put warrants fall after latest monetary easing
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KUALA LUMPUR (March 2): Hang Seng Index-linked put warrants on Bursa Malaysia endured a wave of selling today following the latest monetary easing by China announced on Feb 29.

As at 3.09pm, the first nine of the top 10 losers on Bursa comprised Hang Seng Index-linked put warrants, with the falls ranging from 16.5 sen to 33 sen, or 2.17% to 24.63%.

HIS-HV followed as the 11th biggest loser, falling 16 sen or 8.89% to RM1.64 per unit.

On Feb 29, the People's Bank of China said it has cut the amount of deposits that banks must hold on reserve with the central bank by 0.5 percentage point.

It said the move was aimed at maintaining sufficient liquidity in China's financial system.

While the Hang Seng Index-linked put warrants came under selling pressure, the broader market rose today. The FBM KLCI was up 14.3 points or 0.85% at 1,685.1 as at 3.30pm.

Hong Kong's Hang Seng Index also extended its gain today, rising 2.92% to 19,974.5 as at 3.30pm.