💥 GAMUDA surges to a high of RM9.38 at open; 🏆 Gold sees recent all-time high amid global market uncertainty

💥 GAMUDA surges to a high of RM9.38 at open

• This morning, shares of GAMUDA surged to a high of RM9.38 at the open, before settling down to trade at RM8.75 as at the time of writing, 1.2% higher from yesterday's close.

• The recent gain in its share price can be attributed to the slew of major contract wins which would see GAMUDA exceeding its RM35bil order book target by year end. At present, GAMUDA’s order book stands at RM31.5bil with anticipation for a potential Penang LRT contract win worth over RM4.5bil and some additional water infrastructure work tied to the Ulu Padas project. (TheStar, 5 Nov)

• Investors who wish to gain leveraged exposure to GAMUDA may do so via our call warrants GAMUDA-C2Q or GAMUDA-C2V. Both warrants are currently priced below RM0.10 and are on tight spreads. Among these two warrants, GAMUDA-C2Q currently has the higher effective gearing at 7.3x, moving approximately 7.3% for every 1% move in GAMUDA shares.

🏆 Gold sees recent all-time high amid global market uncertainty

• Amid recent global market uncertainty, spot gold as well as the SPDR Gold Trust (GLDHK; 2840 HK) have seen record closes last week, on 30th October. The uncertainty of the upcoming U.S. presidential election, coupled with the potential Federal Reserve interest rate cut at the upcoming FOMC meeting later this week have caused investors to turn to safe haven investments such as the gold bullion market.

• On 30th October, the GLDHK closed at an all-time high of HKD2,000.00. At the time of writing, GLDHK is currently trading at the HKD1,962.00.

• Investors who wish to gain leveraged exposure to the gold bullion market may do so via our call warrants GLDHK-C3 and GLDHK-C4. GLDHK-C3 has a lower absolute price, with a current bid/ask price of RM0.075/0.080 and has an effective gearing of 8.0x, moving 8% for every 1% move in the underlying. Meanwhile, GLDHK-C4 is a more responsive warrant, moving 1 tick for every HKD8 change in the underlying.

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