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5 April 2022: Stocks making the biggest moves

Market Movers | Trading Dashboard

Market Movers


United States

Top Sector Gainers

SectorGainRelated News
Motor Vehicles+4.2%Tesla’s car deliveries surging despite industrywide chip shortage
Tesla (TSLA US)
Internet Retail+4.1%
China Removes Key Hurdle to Allow U.S. Full Access to Audits
Alibaba (BABA US)
Casinos / Gaming+2.6%Ontario launches regulated iGaming and sports betting market
Caesars Entertainment (CZR US)

Top Sector Losers

SectorLossRelated News
Coal-4.3%U.S. Coal Prices Top $100 a Ton for First Time Since 2008
Peabody Energy (BTU US)
Precious Metals-0.9%Gold Price Forecast: XAU/USD hovers around $1,930 ahead of US Services PMI, balance yields
Newmont Corp (NEM US)
Medical Specialties-0.9%Goldman Sachs flags macro risks in MedTech space
Medtronic (MDT US)
  • Twitter Inc (TWTR US) soared 27.1% yesterday after a filing revealed that Elon Musk has taken a 9.2% passive stake in the firm worth about $2.9 billion. The purchase came weeks after the Tesla CEO polled his 80-plus million Twitter followers about whether the platform adheres to free speech principles. Musk also recently hinted at starting his own site. The move is sparking speculation among analysts that Musk could take a more active ownership in Twitter or even consider a takeover down the road.
  • Hertz Global Holdings Inc (HTZ) shares surged 10.7% yesterday after the company announced a partnership with electric vehicle company Polestar. As part of the deal, Hertz will purchase up to 65,000 electric vehicles over the next five years, according to a news release.
  • JD.com Inc (JD US) and Alibaba Holding Ltd (BABA US) shares gained 1% and 6.6% respectively yesterday. U.S.-listed shares of Chinese companies rallied after China proposed revising confidentiality rules regarding audit oversight. The move could prevent those companies from being delisted in the U.S.
  • Tesla Inc (TSLA US) shares added 5.6% yesterday after the company reported first-quarter electric vehicle deliveries. The more than 310,000 vehicle deliveries marked a quarterly record, but slightly missed consensus Wall Street estimates. Most analysts attributed the miss to Covid shutdowns in Shanghai, where Tesla has a major factory.

Singapore

  • Geo Energy Resources Ltd (GERL SP) and Golden Energy & Resources Ltd (GER SP) shares rose 6.3% and 4.8% respectively yesterday. Despite Newcastle coal futures bottoming below $300 per tonne, it was reported yesterday that proposals to expand or prolong coal operations in NSW continue despite net zero targets. Demand for the state’s fossil fuel resources from overseas has doubled over the past decade, and held steady during the pandemic and the war in Ukraine. In the past 12 months NSW government departments have approved a modification to extend the life of one coal mine and two “state significant” expansions of existing mines.
  • RH Petrogas Ltd (RHP SP) and Rex International Holding Ltd (REXI SP) rose 5.5% and 1.5% respectively yesterday. WTI crude futures pared early losses to trade around $100 a barrel on Monday as traders weighed tight supply, a coordinated release of strategic reserves from consuming nations and a Covid-19 outbreak in China. Last week, oil prices slumped about 13% after President Biden announced a massive release of crude from reserves to fight soaring prices that have been buoyed by the war in Ukraine. Meanwhile, Brent crude futures futures rebounded from early losses to trade above $105 per barrel on Monday.
  • Sembcorp Marine Ltd (SMM SP) shares gained 4.2% yesterday. Last week, Sembmarine and Keppel Corporation said more time and deliberation were needed to advance the proposed combination of Keppel Offshore & Marine (Keppel O&M) and Sembmarine, although “significant progress” has been made. This came some 9 months after both parties first announced talks on potentially combining the entities. Both need to complete due diligence, reach a mutual agreement on the transaction terms and finalise definitive legal documentation.

Hong Kong

The Hong Kong market was closed yesterday in observance of a public holiday (Qingming Festival). Trading resumes today, 6 April.

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Trading Dashboard

Trading Dashboard Update:  Add Olam Group (OLG SP) at S$1.82. Take profit on Xinte Energy (1799 HK) at HK$18.50. Cut loss on Xtep International (1368 HK) at HK13.50. 

(Click to enlarge image)

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