Brokers' take
Add BT as a preferred sourceUnited Overseas Bank | Buy (upgraded) June 20 close: S$26.22 Fair value: S$28.90 OCBC Investment Research, June 20
As at Wednesday's closing, United Overseas Bank's (UOB's) shares rallied for nine straight days or up a strong nine per cent.
Weakness in the banking sector in May and June was largely due to concern of trade war, weakening global and regional economic outlook and more importantly, the rising likelihood of further cuts in interest rates.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk
Middle East-linked energy supply shocks put Asean Power Grid back in focus
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
