DBS bank share price fighting dragons and tigers

It has been a gut wrenching ride for investors as DBS bank share price went into a tailspin following the release of Q1FY2019 financial results on 29 April 2019. During the media briefing, CEO Piyush Gupta revealed that mortgage growth for FY2018 was under $2 billion, vis-à-vis growth of $4 billion in the year before FY2018.

The chilling revelation knocked the wind out of DBS bank share price. On 27 April 2019, DBS bank share price had hit a high of $28.40 but investors were spooked by the bank’s dismay housing loan performance. The data confirmed investors’ worst fear – that DBS’ loan portfolio will be hit by the 2018 property cooling measures.

DBS bank share price

Since that fateful day, DBS bank share price plummeted from $28.40 to a low of $24 on 3 June 2019. The mayhem prompted management to take action to arrest the plunging DBS bank share price. From 14 May 2019 to 3 June 2019, DBS purchased back 3 million DBS shares. The shares buybacks provided much critical support for DBS bank share price.

Can DBS bank share price continue to fight gravity? As the bellwether of the economy, many investors often scrutinize DBS bank share price because it is sensitive to the health of the market. You can make money out of the volatility of DBS bank share price but you can also lose your pants if you don’t monitor this counter carefully.

Big boys punting DBS bank share price

For three consecutive months, DBS was among the top ten institution net sell list from April to June 2019. In April, $50.5 million of DBS shares were sold by fund houses; in May, $81.7 million were sold while in June, the amount surged to a staggering $123 million. If it is not for the shares buybacks, DBS bank share price would have suffered a worst fate.

The question now is: will the big boys continue to punt DBS bank share price in the following months? As can be seen in the data compiled below, short selling volume [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]

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Updated: July 11, 2019 — 8:37 am

2 Comments

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  1. Thanks for your close monitoring, Gerald. Will take note of the change in your outlook on this counter. Let’s wait and see how it will turn out.

  2. Hi Leo,

    Thank you for your comments.
    Yeah, this is a volatile counter. Invest with care and please do your due diligence.

    Regards,
    Gerald
    https://sgwealthbuilder.com

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