Published:
Threats of global liquidity squeeze hurt bank stocks
DBS and OCBC shares, for instance, dropped more than 1% on 9 September 2011.
“Singapore banks like DBS also fell, after CIMB Research downgraded the sector to neutral from overweight, on concerns that a global liquidity squeeze could hurt them. DBS shares were 1.1 percent lower at S$12.89 while Oversea-Chinese Banking Corp lost 1.2 percent at S$8.55,” noted a Reuters report.
The report said, “Singapore shares slipped 0.4 percent by midday on Friday, weighed by losses in property and bank stocks as risk-averse investors took profit after the U.S. President Barack Obama's speech on a jobs package failed to excite the markets.”
View the report here.
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