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OCBC shares slump to 6-month low on HK bank plan

Counter closes at $9.75; it's down 43¢ since rumours broke

Published Tue, Jan 7, 2014 · 10:00 PM
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SHARES of OCBC Bank continued to be dogged by investor concern over plans to take over Hong Kong's Wing Hang Bank.

The counter closed at a six-month low yesterday, finishing the day at $9.75 - 12 cents or 1.2 per cent weaker. Earlier in the day, it had gone down as much as $9.73. Some 18.6 million shares changed hands.

Since rumours of the takeover broke on Friday, OCBC's stock has fallen a total of 43 cents or 4.2 per cent.

Its target fared slightly better; shares of Wing Hang, listed in Hong Kong, managed yesterday to claw back some of the heavy losses suffered previously.

Wing Hang closed 1.5 pe…

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