🕵🏻♀️Are 🇸🇬🏦🏦🏦 Safe For Buy-The-Dip❓
Asia-Pacific markets fell on 20/3 (Mon) after UBS agreed to buy its banking rival Credit Suisse in a $3.25 billion takeover over the weekend.
🐻🐻🐻 The HSI led losses in the region, falling 2.65% to close at 19,000.71 points🔥🔥
🐻 The SSE & SZSE closed down 0.48% & 0.27% respectively. This is despite the 👍📰 from 🇨🇳 leaving its 1-year & 5-year loan prime rate unchanged at 3.65% & 4.3% respectively.
🐻🐻 The ASX 200 fell 1.38% to close at 6,898.500 points🔥
🐻🐻 The STI closed down 1.48% with the the 🇸🇬🏦🏦🏦 in the red🩸 Investors’ favourites Singapore Exchange Maxi-Cash were not spared either. At about 12.30pm today, MAS released a what I view as an “emergency” statement to call Singaporeans to “Calm Down” but as usual we kiasu & kiasi so sell first😅
🔎🔎🔎MAS Statement In-Depth:
(1) MAS said today that Credit Suisse Group AG (CS) will continue operating in 🇸🇬 with no interruptions or restrictions, following the announced takeover by UBS Group AG (UBS).
👍 Customers of CS will continue to have full access to their accounts & CS’ contracts with counterparties remain in force.
👍👍👍 The takeover is not expected to have an impact on the stability of Singapore’s banking system ➡️ So no need to panic & remember to remind our grandparents no need to withdraw💰💰💰 & hide in Milo tin or under pillow😂
🚨 However, if you have more than $75,000 in 1 bank in the various types of deposit accounts, it’s always better to be safe than sorry & transfer the excess funds into a new 🏦 account😉
(2) MAS has been in close touch with the Swiss Financial Market Supervisory Authority (FINMA) & was briefed by FINMA earlier today on the details of the takeover.
👍👍 FINMA issued a statement on 19 March 2023, announcing the takeover & the supportive measures taken by the Swiss Confederation & the🇨🇭Swiss National Bank (SNB)
⭐️⭐️⭐️ This includes additional liquidity assistance provided by SNB to ensure that CS & UBS can continue to meet all obligations throughout the transaction period. These measures are aimed at ensuring stability for CS’ customers, the Swiss financial centre, & international financial markets👍👍👍
(3) CS & UBS' primary activities in 🇸🇬 are private banking & investment banking. The 2🏦🏦 do not serve retail customers. Besides banking activities, CS also conducts financial services under other licensed entities in 🇸🇬
⭐️ For the time being, these CS entities will continue operating under their respective licences. MAS will remain in close contact with FINMA, CS & UBS as the takeover is executed, to facilitate an orderly transition, including addressing any impact on employment👍
(4) MAS will continue to closely monitor the domestic financial system & international developments, & stands ready to provide liquidity through its suite of facilities to ensure that 🇸🇬’s financial system remains stable & financial markets continue to function in an orderly manner.
🤔💭Are 🇸🇬🏦🏦🏦 Still Safe For Buy-The-Dip❓
(1) My analysis from the above MAS statement is that the 🇸🇬 government is on top of things & will intervene to protect the 🇸🇬🏦🏦🏦 as needed.
(2) 🇸🇬 Banks are likely going to continue dipping if 🇺🇸🏦 stocks continue to be rattled & what happens tonight (20/3) & after FOMC meeting on 22/3 (Wed).
(3) If 🇺🇸🏦📉📉📉 tonight, I will hold off buying the dip for the 🇸🇬🏦🏦🏦 & monitor the recovery of 🇺🇸🏦 before deciding whether to enter.
(4) 🇸🇬🏦🏦🏦 are always a 👍 & safe buy when the price is right✅, as you can see from their below stock graphs (since listing) that they always recover, so buying the dip is what I’ll do but ⏱⏱⏱ is important❣️
🤔💭What’s The 🇸🇬 & 🇺🇸 Stock Market Outlook❓
🎢🎢🐻 🇸🇬 & 🇺🇸 stock markets will continue to be volatile till the FOMC meeting & may decline further📉📉📉
$DBS GROUP HOLDINGS LTD(D05.SI)$ Bearish$UNITED OVERSEAS BANK LIMITED(U11.SI)$ Bearish$OVERSEA-CHINESE BANKING CORP(O39.SI)$ Bearish$Bank of America(BAC)$ Bearish$S&P 500(.SPX)$ Bullish$Alibaba(BABA)$ Bearish
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Modify on 2023-03-21 09:26
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Based on mutual fund investment record, the tech stocks really recovering in this kind of volatile even lots of voices recession may come soon, but I see the price is getting expensive after the huge dip in the pass, graph proven it's all for most of the giant tech stocks!
for Bank stocks, may not be great but it's a good buy for now, we do not know if it's bottom off but most of the time always miss the speed train moving up!
Saw lots of Aus Bank stocks which are good buy at the moment too.
Ur great article always keep us arlet with better direction! [Like] [Heart]
Great article to read!!