S$7 billion wiped off OCBC value as shares slide 5.2% in heavy trade
The lender is also the top traded stock by value
OCBC's stock value plummeted by S$7 billion on Wednesday, October 7, as the shares slid 5.2% in heavy trading. The lender's shares plummeted as much as 5.2% in intraday trading, reaching S$30.54, down from a close of nearly S$145 billion the previous day to about S$138 billion by 11 am. Citi downgraded the stock from "neutral" to "sell," citing flat earnings growth for the third quarter and a lack of growth momentum for the lender.
OCBC's research director, Jonathan Koh, expressed concern over uncertainties arising from the conflict in the Middle East, despite the risks of safe-haven liquidity inflows, higher bond yields, and monetary tightening. DBS and UOB also experienced drops in their stock prices, but to a lesser extent compared to OCBC. UOB Kay Hian maintained a "buy" rating on OCBC, attributing its resilience to its strong performance in wealth management, which grew at 22% year-on-year in the first half of 2026.
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Also reported by 1 other outlet
- S$7 billion wiped off OCBC value as shares slide 4.9% in heavy trade businesstimes.com.sg
