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OCBC profit fall sparks bank selloff

STI falls 1.3%, its biggest single-day drop this year; rotational playing of penny stocks continues

Published Tue, Feb 14, 2017 · 09:50 PM

US PRESIDENT Donald Trump's promise of a "phenomenal" tax plan may have driven Wall Street to new highs on Monday but in Singapore, a bank selloff on Tuesday after OCBC reported its latest results, led to a 39.16 points or 1.3 per cent loss for the Straits Times Index at 3,072.47 - its biggest single-day drop of 2017.

Volume was above average at 3.3 billion units worth S$1.47 billi…

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