It’s official. Singapore has entered into recession following the 41.2% GDP drop in the 2nd quarter from the preceding three months. As the bellwether of the economy, the financial performance of the banks are sensitive to the economy condition. In this regard, will DBS Group share price melt in the coming weeks?
DBS Group Holdings share in bloodbath with Hin Leong
DBS Group Holdings share in explosive meltdown
DBS Group share price in dark chapter with virus
DBS Group Holdings share price ambushed by coronavirus?
The mind-blowing decline of 2Q’s GDP is obviously caused by the COVID-19 and the resulting circuit-breaker measures. Many analysts shuddered to think what would have happened if the government did not implement the four budgets worth nearly $100 billion. The rescue packages helped to mitigate the impact for most businesses and stave off mass unemployment. Looking back, this could be the major factor why DBS Group share price had not collapsed to abysmal levels until now....
