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Opportunities
Mirach Energy (C68) and CNA (5GC) are on UOBKH small cap stocks watch list. The rules are as follows:
(a) Single Exposure per Counter
- Not more than $50K (if clients' approved trading limits are less than $150K)
- Not more than $100K (if clients' approved trading limits are more than $150K)
(b) Cumulative Exposure per Client
- Not more than $300K
Comments: Not positive. This usually reduces the demand for the stock and so may have negative effect on stock price. Short-sellers may wish to beware of risks of a short squeeze (too many shorts in the market that a little buying causes frantic covering of shorts, resulting in upswing in price).
On the other hand, due to settlement mechanics, the overhang and restrictions may be lifted in a week or so. Therefore, watch out for any possible return of interest next week.
Chart of the Day
Cosco (F83)
Comments: Chart looks to be on a longer term rebound.
Commentary
Flows on continue to show strength in stocks in countries like Korea and Indonesia. HK and Singapore continue to show slight inflow in stocks coupled with interest in the respective currencies. On the US front, more interest is in US Treasures. US stocks show signs of profit-taking.
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