Should it be “Sell in May and Go Away” or “Sell in March and Go Away”? In recent years, crises seemed to occur in March, leading to severe stock market corrections. In March 2020, we had the explosive market routs caused by the pandemic. And then in March 2022, the Russian war in Ukraine sent global markets into a devastating tailspin. Being one of the major Straits Times Index (STI) components, OCBC share price saw plenty of volatility.
To be frank, the recent March correction for OCBC share price could have been even more severe if its not for the timely ease of pandemic measures announced on 25 March 2022. The relaxation of measures should bode well for local banks as the operating environment improves significantly in the coming month. Rightfully, as we enter endemic, Singapore economy should recover and grow. Being the bellwether of the economy, OCBC Bank is likely to see healthy growth, thereby stimulating OCBC share price. Nonetheless, things are often not so straightforward in life.
Inflation has thrown a spanner in the works for the recovery of global economy, which has barely emerged from the pandemic. And the Russia war has added even more fuel to the fire.Read more