Shares & Derivatives
[Paywall] UOB share price given booster shot!
By SG Wealth Builder  •  January 19, 2022
It appears to me that UOB share price is on fire after being given a booster shot! Lately, Singapore bank stocks were given a lift following news of the impending interest rate hikes by US Federal Reserves. However, UOB share price jumped to a whole new level following the announcement of the $5 billion acquisition of Citigroup’s Southeast Asia consumer business. The Citigroup acquisition pushed UOB share price briefly passed the psychological $30 mark. This is a record level for UOB share price. Whether UOB share price can sustain this level remains to be seen in the coming days. Nonetheless, I doubt that UOB share price has peaked as the full-year financial result will be released only on 16 February. Given the lower allowances being made in FY2021, we should see full-year net profit registering a double-digit growth. In view of this, there should be plenty of headroom for UOB share price to rise in the next few weeks....
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By SG Wealth Builder
Welcome to SG Wealth Builder! My name is Gerald and I hope that you find this blog useful in your wealth building journey. The motto of this blog is “to make money, to build wealth and to preserve wealth” ...
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