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OCBC up again as Moody's confirms ratings

Stock up a further 7 cents at S$10.38 and was the most active by value

OCBC Bank continued to rally yesterday, with some 5.7 million shares worth S$59 million changing hands making the stock the most actively traded by value.

The counter closed at S$10.38, up a further seven cents, after the Singapore banking group launched on Monday a steeply discounted rights share issue to pay for Hong Kong's Wing Hang Bank. On Tuesday, it jumped 11 cents to S$10.31.

An added boost yesterday came from Moody's Investor Services which confirmed its ratings on OCBC's long-term debt, deposit...

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