OCBC - dives more than 6% on analyst downgrade

Macquarie Warrants Singapore

⚠OCBC is the worst blue chip performer on the Straits Times Index today, as the stock heads yet lower in the PM session to be down 6.4% to $30.13 as of 215PM today

✳✴Consequently, trending OCBC call warrant $OCBC Bk MB eCW270226(JXRW.SI)$ (https://warrants.com.sg/tools/livematrix/JXRW) is seeing buying interest for 2M warrants as the warrant tumbles 37.6% to $0.073 while trending OCBC put warrant $OCBC Bk MB ePW270930(JBXW.SI)$ (https://warrants.com.sg/tools/livematrix/JBXW) is up 23.4% to $0.137

🔻OCBC was downgraded overnight by an analyst that downgraded the stock's rating to Sell and lowered their target price to $27.50

The analyst notes that OCBC will see a net interest margins contraction as SGD fixed deposit rates rise, as well as a normalisation of wealth-related income

Another analyst warned that the surging bond yields will hurt 3Q earnings for all Southeast Asian banks - with OCBC, DBS and CIMB cited as most exposed (Bloomberg)

Counterparts DBS and UOB are both trading in the red today, with DBS trading 1.1% lower to $77.68 while UOB is down 2.7% to $42.57

Trending DBS call warrant $DBS MB eCW270226(IJMW.SI)$ (https://warrants.com.sg/tools/livematrix/IJMW) and UOB call $UOB MB eCW270226(YUZW.SI)$ (https://warrants.com.sg/tools/livematrix/YUZW) are both seeing demand as the warrants fell 7% and 19.6% respectively

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Comments

CaesarHicks
10-07 17:02
CaesarHicks
Analyst downgrade alone does not justify panic selling. Put warrants up 23% already feels like sentiment overshooting, while OCBC down 6.4% looks more emotional than structural

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with OCBC, DBS and CIMB cited as most exposed (Bloomberg)</p>\n<p>Counterparts DBS and UOB are both trading in the red today, with DBS trading 1.1% lower to $77.68 while UOB is down 2.7% to $42.57</p>\n<p>Trending DBS call warrant <a href=\"https://ttm.financial/S/IJMW.SI\">$DBS MB eCW270226(IJMW.SI)$</a> (https://warrants.com.sg/tools/livematrix/IJMW) and UOB call <a href=\"https://ttm.financial/S/YUZW.SI\">$UOB MB eCW270226(YUZW.SI)$</a> (https://warrants.com.sg/tools/livematrix/YUZW) are both seeing demand as the warrants fell 7% and 19.6% respectively</p></body></html>","htmlText":"<html><head></head><body><p>⚠OCBC is the worst blue chip performer on the Straits Times Index today, as the stock heads yet lower in the PM session to be down 6.4% to $30.13 as of 215PM today</p>\n<p>✳✴Consequently, trending OCBC call warrant <a href=\"https://ttm.financial/S/JXRW.SI\">$OCBC Bk MB eCW270226(JXRW.SI)$</a> (https://warrants.com.sg/tools/livematrix/JXRW) is seeing buying interest for 2M warrants as the warrant tumbles 37.6% to $0.073 while trending OCBC put warrant <a href=\"https://ttm.financial/S/JBXW.SI\">$OCBC Bk MB ePW270930(JBXW.SI)$</a> (https://warrants.com.sg/tools/livematrix/JBXW) is up 23.4% to $0.137</p>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b0ddefbef1deaaa6ee11f376f080c2fa\" tg-width=\"478\" tg-height=\"245\"></p>\n<p>🔻OCBC was downgraded overnight by an analyst that downgraded the stock's rating to Sell and lowered their target price to $27.50</p>\n<p>The analyst notes that OCBC will see a net interest margins contraction as SGD fixed deposit rates rise, as well as a normalisation of wealth-related income</p>\n<p>Another analyst warned that the surging bond yields will hurt 3Q earnings for all Southeast Asian banks - with OCBC, DBS and CIMB cited as most exposed (Bloomberg)</p>\n<p>Counterparts DBS and UOB are both trading in the red today, with DBS trading 1.1% lower to $77.68 while UOB is down 2.7% to $42.57</p>\n<p>Trending DBS call warrant <a href=\"https://ttm.financial/S/IJMW.SI\">$DBS MB eCW270226(IJMW.SI)$</a> (https://warrants.com.sg/tools/livematrix/IJMW) and UOB call <a href=\"https://ttm.financial/S/YUZW.SI\">$UOB MB eCW270226(YUZW.SI)$</a> (https://warrants.com.sg/tools/livematrix/YUZW) are both seeing demand as the warrants fell 7% and 19.6% respectively</p></body></html>","text":"⚠OCBC is the worst blue chip performer on the Straits Times Index today, as the stock heads yet lower in the PM session to be down 6.4% to $30.13 as of 215PM today ✳✴Consequently, trending OCBC call warrant $OCBC Bk MB eCW270226(JXRW.SI)$ (https://warrants.com.sg/tools/livematrix/JXRW) is seeing buying interest for 2M warrants as the warrant tumbles 37.6% to $0.073 while trending OCBC put warrant $OCBC Bk MB ePW270930(JBXW.SI)$ (https://warrants.com.sg/tools/livematrix/JBXW) is up 23.4% to $0.137 🔻OCBC was downgraded overnight by an analyst that downgraded the stock's rating to Sell and lowered their target price to $27.50 The analyst notes that OCBC will see a net interest margins contraction as SGD fixed deposit rates rise, as well as a normalisation of wealth-related income Another analyst warned that the surging bond yields will hurt 3Q earnings for all Southeast Asian banks - 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