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 and standalone ratings. Moody's also said that the ratings outlook was stable. T…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meta profits soar but costs of AI cause worry
IBM falls on weak consulting sales, overshadowing HashiCorp deal
Oil settles lower as US business activity cools, concerns over Middle East ease
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data
TikTok suspends new app’s reward programme amid EU concerns