KUALA LUMPUR (Aug 12): Structured warrants were among the top gainers on the local bourse this morning, as Asian markets were all in the red this morning following the devaluation of the Chinese Yuan (CNY).

At 10.26am put warrants which have the FBM KLCI as its underlying, such as the FBMKLCI-HH and the FBMKLCI-HL, were among the top gainers on Bursa Malaysia and were up 10.6% and 14.3% respectively.

The FBMKLCI-HK (up 17.65%) and the FBMKLCI-HG (up 12.24%) were the top two active counters on Bursa Malaysia this morning, with 40.97 million and 25.96 million warrants traded respectively.

This comes as no surprise as put warrants are investors' cup of tea in bear markets, and the FBM KLCI which was down 1.2% at time of writing seems to have triggered some trade in put warrants.

Similiarly, the Hang Seng index which was down 1.26% this morning saw its put warrants, the HSI-HF and the HSI-HK up 22.47% and 18.02% respectively.

The situation was the exact opposite for call warrants, as most were down in the morning trade.

Call warrants which count the FBM KLCI as its underlying were all seeing red, such as FBMKLCI-CZ which was down 11.39%, and FBMKLCI-C1 which was down 15.38%.

Malayan Banking Bhd (Maybank)’s shares, which were down 0.82%, saw its call warrants suffer the same fate, with MaybankC10 losing 25%, MaybankC11 down 13.33% and Maybank C12 down 40%.