OREANDA-NEWS. For the month of September, Singapore’s three banks all generated gains, led by United Overseas Bank (UOB) with a 4.6% gain and followed by a 2.7% gain for DBS Group Holdings (DBS) and a 0.7% gain for Oversea-Chinese Banking Corporation (OCBC). Together the three stocks averaged a 2.6% gain. This followed on from the month of August where the three banks averaged a 0.7% total return.

The average daily turnover for UOB shares in September 2016 was S$67 million, which was up 18% from $57 million in August.  The turnover for OCBC shares in September was the same as the turnover in August, with average daily turnover at S$40 million. Meanwhile the average daily turnover for DBS shares (also the largest capitalised of the three banks) in September was S$64 million, down from S$79 million in August.

OCBC has been the best performing of the three banks in the first nine months of 2016, with a total return of 2.4%. For the year, DBS has declined 4.1% and UOB has declined 0.3% on a dividend-inclusive total return basis. This has brought the average five year total return of the three banks to 39.6% as of the end of September 2016.

The five most active Stock Structured Warrants in the month of September were made up of two Call Warrants on DBS, two Call Warrants on UOB and one Put Warrant on DBS. DBS’ Call Warrant with a strike level of S$15.50 and expiry date on 1 February 2017 was the most active warrant. The share price of DBS ended September at S$15.23. The details of the five most active structured warrants on stocks in  September 2016 are listed in the table below.

Warrant turnover in September 2016 was S$769,352,712. This was up 147.1% from September 2015 which saw a turnover of S$311,301,001. The turnover for the month was also down 6.8% from August 2016, which saw a turnover of S$825,328,264.

The five most active index warrants for September 2016 were all Hang Seng Index warrants. They comprised of three call warrants and one put warrant. Hang Seng Index’s call warrant with a strike level of 23800 and expiry date on 29 December 2016 was the most active of the index warrants.

Hang Seng Index 30 day annualised volatility stood at 16.1% at the end of September, a jump from the 2016 YTD low of 11.9% at the end of August 2016. The 30 day annualised volatility gauge for the Straits Times Index (STI) also climbed higher, albeit to much lesser degree, ending September 2016 at 11.8% compared to 10.4% at the end of August 2016.

The details of the five most active index warrants for September 2016 are listed in the table below.