Singapore Banking - UOB Kay Hian 2016-03-10: The Beginning Of The Return To Normalcy
OCBC OVERSEA-CHINESE BANKING CORP O39.SI DBS GROUP HOLDINGS LTD D05.SI Banking – Singapore The Beginning Of The Return To Normalcy
- Share prices of banks started correcting on 11 Aug 15 after the PBOC introduced a new market-oriented reference rate mechanism, which triggered the depreciation of the renminbi and concerns over competitive devaluation across ASEAN countries.
- Sentiments on banks should recover now that the renminbi is no longer under attack.
- Top picks are OCBC and DBS. Maintain OVERWEIGHT.
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