Hot stock: OCBC falls 3.1% after Q4 earnings miss

SHARES of OCBC 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.