OCBC May Benefit from Rising Benchmark Rates in Singapore
Dow Jones
1 hour ago
0203 GMT - OCBC may benefit from rising benchmark rates in Singapore, RHB Research says in a note. If the Fed delivers two rate increases in October and December, the 3-month Singapore Overnight Rate Average could reach 1.50% by end-4Q, RHB says. Rising benchmark rates may provide Singapore banks like OCBC with another leg for growth in operating income. RHB Research raises its target price on the stock to 33.70 Singapore dollars from S$32.85 with an unchanged buy rating. Shares are 0.4% higher at S$31.68.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.