□ Our reporter Jianming
Although the Shanghai Composite Index hit a new high again yesterday, the warrant market appears to be somewhat calm. Throughout the day, 17 warrants rose and 5 warrants fell, with the maximum increase of only 6.17% and the maximum decrease of only 1.84%.
Yesterday, the hot spot of warrant market was relatively scattered, and most of the put and subscription varieties rose at the same time. By the end of the day, CIMC's put, Wanhua's subscription and Wuliang's subscription were among the top three gainers, while Steel Vanadium's subscription, Magang's subscription and Yage's subscription fell slightly. Throughout the day, the total market turnover was 11.2 billion yuan, basically the same as the previous trading day.
In recent years, Shanghai Stock Exchange put, Baotou Steel put, Baotou Steel subscription and Handan Steel subscription have ended their transactions. In the next two months, nine warrants will expire in succession, and the share reform warrant market is facing a situation of gradual shrinkage. Influenced by the above factors and the relatively high level of the market, the activity of the warrant market has declined significantly. In recent trading days, the daily transaction amount of warrants has basically remained around 10 billion, only 60% of the average level this year.
Analysts pointed out that since the launch of the first separate convertible bond warrant, Masteel CWB1, in December last year, Vanadium Steel CWB1, Sinochem CWB1 and Cloudchem CWB1 have been launched successively, and have performed well after listing. With the gradual expiration of share reform warrants in the second quarter, warrants issued through separate convertible bonds are expected to become the hot spot and mainstream of the market.
