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6661-6680 of 6990
Do keep a close watch on these issues:
Raising funds for the Wing Hang bank purchase
HK property mkt
Their Chief Risk Officer is leaving, and is replaced by someone from Deutsche bank (OCBC has won accolades for risk mgt)
NIM (net interest income)
Believe that OCBC share price would rally up, given that all the sell queues are crumbling like a pack of cards.
In the mid term, watch for above.
In the long term my personal feeling is that much depends on the mgt and their risk team. Remember Dao Heng, Wing Hang could run through the same course. There is no POSB to save OCBC. Do remember this.
I am a swing trader, therefore I do not stay long on a share. But LT investors do need to watch out for those pressure points.
Glad to see it finally moving as this is one of my key holdings. In the past ocbc share price has never strayed far from 50% of uob but this year it has really lagged behind. Hopefully todays rally means that all the negativity surrounding the wing hang purchase has finally washed off and the share can finally start to perform
Playing catching up with the other 2 banks
Congrats to you too!
Woohoo, so happy with the selection of OCBC and DBS!
GorgeousOng ( Date: 06-Aug-2014 17:53) Posted:
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Congrat!!!
Kyoto2008 ( Date: 06-Aug-2014 17:44) Posted:
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Probably one of the best runs.
I see all buy ups now! The tide has turned for OCBC.
Shareholders who held on are rewarded.
First in the list under ' Top Value' . Heavy buying going on.
Will it break 10.30 by end of next week?
finally break 10 sgd convincingly.
I put my money where my mouth is.
UOB I shorted for consecutive days as it tumbled with no floor, but I have stopped.
OCBC and DBS I have longed.
So far so good.
Kyoto2008 ( Date: 06-Aug-2014 13:54) Posted:
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Agree absolutely. The share price dipped at the beginning of this year, and has remained subdued. Probably lost favour with the crowd because of the Wing Hang Bank purchase.
I think public sees the purchase as risky because of funds needed for it and this has not been clearly spelt out, whether by rights issue or placements, or preference shares. The lack of information causes anxiety.
Furthermore, not much is said about Wing Hang, how are they going to unlock the potential?
Management really has to follow DBS CEO' s eg of disclosure.
The good point about OCBC is that they came forth to dispel fears that the bank is involved in the trade scams in China, exactly what DBS did (and UOB didn' t do). So that was one obstacle removed.
Noticed that although their results are loan driven (as opposed to fee driven), the NPLs have gone down, and this certainly give shareholders assurance that the bank has strong risk management.
However, the CEO could have given more details on how they will grow the bank given NIMs will be impacted by interest rates rises next year. DBS has an advantage as a lot of funds are low cost (POSB deposits).
While the CEO talks about their current OCBC loan exposure in China being low which is good, he could have tried to give more information on Wing Hang' s assets, or at least give some kind of assurance if he does not or cannot provide the figures.
Shareholders' chief concern is whether WH will be another Dao Heng, ie high write down of loan losses.
Anyway, kudos to the management of OCBC, although in comparison, I still like Gupta a lot more because he is direct, frank and bold and doesn' t avoid issues that hit at the heart of the shareholders. UOB? They could have been more transparent, it would reflect better on them. Although the bank has strengths, noted it has grown it' s fee income by quite a bit, but the NPLs really put off shareholders who are heading for the exit in droves.
oceanblue ( Date: 06-Aug-2014 13:26) Posted:
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OCBC has been a laggard for quite some time. The other local banks have already run up. Still a long way to go to play catch up to reflect its true value.
Sun Tze Art of War.
Kyoto2008 ( Date: 06-Aug-2014 13:12) Posted:
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Yesterday, when the news of OCBC' s quarterly results were announced over CNA, there were quiet buyups, large transactions.
Today, this ran into the sellers' queues in later part of morning. Leads me to speculate whether the sell queues were put there for show. Know what I mean? Like frigthen those holding the shares to quickly selldown to waiting hands.
The speed at which the 10 wall was brought down also makes me think whether there are large buyers waiting for an opportunity but didn' t key in the orders so as to appear invisible and let the market drift.
See PM!
Good news for all OCBC shareholders who did not sell out including yourself. I think there is long term potential in this bank. The best time to get in was yesterday for the upward spiral, but still not too late.
Here' s the latest MD (see the walls on the sell queue):
GorgeousOng ( Date: 06-Aug-2014 12:40) Posted:
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Hehehe!
I follow your up date hor!!!
Cheers!!!
In this kind of bearish market, OCBC can put on 6 cents breaking through 10 shows that there is far more potential than many people give it credit for.
Kyoto2008 ( Date: 06-Aug-2014 12:33) Posted:
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It hit 10.00. Walls are crumbling down.
More buyers have come in with large queues. However, sellers also have large queues at 9.99 and 10.00 so not so clear if the bulls can go through the walls.
I think there are shifting of fund houses' portfolios as pointed out.
It takes a very long time to clear one cent, though long term it will do well but unfortunately share price is having difficulty moving up.
For it to move up today against general softening of the market is already a feat.
This stock need to keep for long term. May not see so much appreciation over this period as there are just too many seller walls. If one is in a hurry to get into a bank, DBS is a better buy presently as the sentiment is a lot better over there.