Hot stock: OCBC falls 3.1% after Q4 earnings miss
SHARES of OCBC : O39 0% retreated on Wednesday (Feb 28) morning amid heavy trading after the bank reported a fourth quarter net profit of S$1.62 billion, falling short of the S$1.72 billion estimate based on one analyst polled by Bloomberg.
As at 10.08 am, the lender had fallen 3.1 per cent or S$0.41 to S$12.90 after 4.6 million securities changed hands. By 10.31 am, it had recovered slightly to trade at S$12.93, down 2.9 per cent or S$0.38 with 5.6 million securities worth S$72.8 million transacted, making it the top-traded counter at the time by value.
No married deals were recorded in early trade, according to ShareInvestor data.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Singapore energy scene in no danger of shakeup even as oil giants rejig portfolios: observers
Singapore stocks close flat amid mixed regional trading
Japan’s NYK Line, Singapore’s GCMD to launch six-month biofuel bunker project
Amazon’s AWS puts another S$12 billion into its Singapore cloud infrastructure
India’s SBI Q4 profit jumps 24% on strong loan demand
Vietnam’s banks face borrowing cost rise as deposits dip