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Monday, 16 July, 2012, 12:00am

How to handle accumulators

Despite their recent notoriety among local investors, accumulators, a form of structured product, are still popular and useful instruments, especially in a period of market volatility. By learning how to use them and understand the alternatives, investors can make them a useful tool for improving their portfolio returns.

22 Apr 2012 - 12:00am

Expected volatility augurs well for warrants

Warrant sales could pick up in the second half of this year as retail investors anticipate more volatility in stock prices of mainland companies, according to banks.

Warrants, like options, are derivative securities that give the holder the right to buy the underlying shares from the issuer at a specific price within a certain period.

6 Jul 2011 - 12:00am

Most accept buyback offer by Goldman Sachs

Most investors who bought the Nikkei-linked warrants issued by Goldman Sachs have made a U-turn after initially rejecting the Wall Street investment bank's proposal of buying back the products.

28 May 2011 - 12:00am

HKEx mulls disciplinary action on Goldman Sachs

The stock exchange is seeking to review Goldman Sachs's suitability for issuing warrants in the future and is considering disciplinary action on the Wall Street bank for a mathematical error that caused the suspension of HK$600 million worth of Nikkei-linked warrants it issued.

24 May 2011 - 12:00am

Geared for risk

Hong Kong is the world's biggest warrants market. Average daily turnover in the city for warrants (and its close kin, the callable bull/bear contract) clocks in at a thumping HK$19.3 billion, according to figures from HSBC.

23 May 2011 - 12:00am

Investors win meeting with Goldman over new payout proposal

Goldman Sachs will meet with investors about a payout agreement covering four Nikkei Index-linked warrants after the Wall Street bank's proposal to buy back the products was rejected by investors last month.

11 May 2011 - 12:00am

Investors mull legal challenge to Goldman's warrant buy-back

Investors are seeking legal advice after Goldman Sachs said it would repurchase the four Nikkei-linked warrants that have been suspended from trading for three weeks.

23 Apr 2011 - 12:00am

Goldman offers to buy back warrants

Goldman Sachs offered to repurchase four listed Nikkei-linked warrants estimated to be worth HK$600 million after a three-week halt. The bank said until May 16 it would pay holders 110 per cent of the total net purchase price or 110 per cent of the buy-back value, whichever is higher.

22 Apr 2011 - 12:00am

Goldman stops issuing derivative warrants after errors

Goldman Sachs says it will stop issuing new derivative warrants after it suspended trading of four Nikkei-linked warrants worth an estimated HK$600 million last week because of errors in the listing documents.

The Wall Street investment bank issued a statement in Chineselanguage newspapers on Sunday saying it 'regrets' the errors and described them as 'technical'.

5 Apr 2011 - 12:00am

Rusal-linked warrants to start trading

The first derivative warrants linked to the share price of Russian aluminium producer Rusal will be traded on January 31. Rusal, which went public in January last year, drew concerns from the securities regulator because of its high debt levels.

7 May 2015 - 4:50pm

Daiwa unit to buy part of KBC Group

Daiwa Capital Markets, the investment banking arm of Japan's brokerage and financial services firm Daiwa Securities Group, is to buy Belgium's KBC Group's global convertible bonds and Asian equity derivatives operations for US$1 billion. The acquisition is still subject to regulatory approval.

6 Jul 2010 - 12:00am

Graft-busters swoop on securities firms

More than 20 staff from securities firms in Hong Kong have been arrested by the Independent Commission Against Corruption for allegedly fraudulent stock warrant transactions. Sources familiar with the issue said staff of warrants distributors were accused of making special deals with brokers on product subscriptions in order to boost sales.

29 May 2008 - 12:00am

Jiangxi Copper sells 6.8b yuan in bonds

Jiangxi Copper has proposed to raise as much as 6.8 billion yuan from a bond issue and additional funds by selling warrants. It plans to spend 2.14 billion yuan buying metals assets and financial services units from its parent and 4.66 billion yuan repaying loans.

23 Jan 2008 - 12:00am

Short-term play on stock moves at cheaper entry level

Stock warrants are similar to stock options in that they allow investors to profit from a rise in an issue's share price for a fraction of what it would cost to purchase the underlying stock.

23 Dec 2007 - 12:00am