Will OCBC share price see daylight? The COVID-19 pandemic has upended the entire world and causes Singapore economy to shrink by a whopping 13.2 percent for 2nd quarter on a year-on-year basis. Given that bank stocks are highly sensitive to economy condition, OCBC share price is expected to face a bitter winter ahead.
With the highest Common Equity Tier 1 among the three local banks, OCBC continues to be the strongest Singapore bank. It is this trait that gives me the conviction in OCBC share price. But whether the management can leverage on this position of strength amid the pandemic crisis is a big question mark.
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To further complicate matters for OCBC share price, the Monetary Authority of Singapore (MAS)...