Banking stocks traded mixed in early morning trade
$DBS Group Holdings (D05.SG)$ was down 0.2 per cent or S$0.05 to S$33.45. $OCBC Bank (O39.SG)$ declined 2 per cent or S$0.26 to S$13.05, and $UOB (U11.SG)$ inched up 0.04 per cent or S$0.01 to S$28.21.
OCBC reported before the market opened that its net profit for the fourth quarter ended Dec 31, 2023, gained 12 per cent to S$1.62 billion from S$1.44 billion a year prior.
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102356143 : Uob dropped and the dividend yield is now 5.68% where it used to be below 5%, so its priced much more reasonably now after announcing results.. the dividend yield should move towards 5% or below which shows high chance of price upside..