OCBC share price (SGX: O39) went AWOL
LIFETIME MEMBERSHIP It seems that OCBC share price (SGX: O39) have lost its way. On 3 November 2021, the local bank released a set of financial result that saw 3rd quarter’s net profit rose by an impressive 19% year-on-year to reach $1.22 billion. Nine months’ net profit rose by a staggering 58% to $3.88 billion. With such a solid performance, most investors would have popped the champagne. Yet OCBC share price (SGX: O39) confounded investors by retreating 0.75% on that fateful day.
To be honest, the tepid performance of OCBC share price (SGX: O39) is truly bizarre. Like many investors, I had expected plenty of fireworks for OCBC share price (SGX: O39) following the release of the excellent 3rd quarter business update. I do think that it is reasonable to expect OCBC share price (SGX: O39) when you see such good result. But then again, Man proposes, God disposes. OCBC share price (SGX: O39) went missing in action instead.
The trend of OCBC share price (SGX: O39) is eerily similar to that of Wilmar, another Straits Times Index heavyweight. In October 2020, Wilmar share price suffered an explosive meltdown following the hugely successful listing of Yihai Kerry Arawana Holdings Co.,
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