SINGAPORE (July 6): DBS Group Research is downgrading its recommendations for both Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) — and slashing their target prices by up to 20%.
This comes after the government announced a couple of property cooling measures yesterday evening that will kick in effective today.
“Previous property cooling measures caused loan growth to half from a high of 16% after a year,” says lead analyst Lim Sue Lin in a...(click on link for full story on theedgesingapore.com)