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Macquarie says DBS is good play on bond yield curve, reiterates Outperform rating with unchanged $23.75 target price. "The recent steepening of the yield curve suggests better gapping opportunities for DBS," says broker in note; adds this should aid the bank''s margins. Says valuation undemanding, shares trade on price/book of 1.4X, below the sector average of 1.5X. Tips potential positive earnings surprise as share price catalyst, says ongoing resilience in loan growth may also boost sentiment, anticipates loan growth to slow this year but to remain above historical trend.
Broke $19 level, but the swing will come from US financial sectors....
DBS has hold off pretty well this week but closing nearer to the $19 level...
Next week, highly possible to tread lower and break $19 level as their US counterpart.....with technology and financial market closely intertwined nowsaday.
Dow has set the motion for next week and Oil prices, if go higher will lubricate the fall further....
Hold on tightly to your seat belt....
Still hold above $19 level...
Wipe out yesterday gain....pressure seems to be mounting on financial stocks...
Triple digit lost in Europe and Dow...not very rosy...will break $19???
CLSA analyst Thilan Wickramasinghe said Singapore banks are still poised for growth in the face of high inflation, which is at a 26-year high in the city-state.
"We remain comfortable with our bank forecasts even at current consumer price index levels... Singapore banks should maintain earnings momentum as the domestic demand story plays out," said Wickramasinghe in a note on the banking sector.
today movt is last dash by BB to offload??? Don't get caught...
A summary for today.
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If financial stock like DBS, UOB and OCBC drop....STI confirm will break thru the 3000 resistance level .... U turn to test new low again???
Testing $19 tomorrow???
DJ futures -83pts....tonight, will DJ LS??? If so, tomorrow DBS will be on lelong...below $19?
A summary for today.
| Last | Trades | Volume | Bid Volume | Mid | Ask Volume |
| 19.130 | 1 | 2,000 | 0 | 2,000 | 0 |
| 19.140 | 20 | 98,000 | 97,000 | 0 | 1,000 |
| 19.150 | 1 | 4,000 | 0 | 4,000 | 0 |
| 19.152 | 1 | 19,000 | 0 | 19,000 | 0 |
| 19.160 | 86 | 709,000 | 255,000 | 303,000 | 151,000 |
| 19.170 | 1 | 4,000 | 0 | 4,000 | 0 |
| 19.180 | 88 | 642,000 | 384,000 | 32,000 | 226,000 |
| 19.200 | 68 | 593,000 | 248,000 | 0 | 345,000 |
| 19.208 | 1 | 13,000 | 0 | 13,000 | 0 |
| 19.220 | 45 | 196,000 | 126,000 | 0 | 70,000 |
| 19.240 | 51 | 238,000 | 204,000 | 0 | 34,000 |
| 19.260 | 48 | 185,000 | 122,000 | 10,000 | 53,000 |
| 19.280 | 45 | 280,000 | 139,000 | 10,000 | 131,000 |
| 19.290 | 1 | 4,000 | 0 | 4,000 | 0 |
| 19.300 | 36 | 241,000 | 121,000 | 0 | 120,000 |
| 19.320 | 22 | 98,000 | 38,000 | 0 | 60,000 |
| 19.340 | 11 | 76,000 | 57,000 | 0 | 19,000 |
| 19.360 | 19 | 93,000 | 85,000 | 0 | 8,000 |
| 19.380 | 44 | 323,000 | 151,000 | 96,000 | 76,000 |
| 19.391 | 1 | 9,000 | 0 | 9,000 | 0 |
| 19.400 | 54 | 260,000 | 92,000 | 8,000 | 160,000 |
| 19.420 | 4 | 8,000 | 2,000 | 0 | 6,000 |
| TOTAL | 648 | 4,095,000 | 2,121,000 | 514,000 | 1,460,000 |
Showtime for dbs to drop.... What goes up higher and will fall faster.....
DBS has a pretty run-up this week...will it defy gravity next week???
Overtake UOB now....
A summary for today.
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Why sudden interest.....any ideas???
With financial institutions closely intertwined.....its not suprising...
Bank stocks getting clobbered today.