--- title: "β˜•οΈ [Task Coins Giveaway] Daily Market Talk β€” OCBC Sell-Off Deepens" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/100000000928670.md" description: "OCBC is down about 10% in two days after Citi's sell call, and DBS and UOB are sliding with it. Rates aren't helping: the US 10-year just touched 5.35%. Let's dig in πŸ‘‡πŸ’¬ Buying the bank dip in 10-share..." datetime: "2026-10-08T02:39:49.000Z" locales: - [en](https://longbridge.com/en/topics/100000000928670.md) - [zh-CN](https://longbridge.com/zh-CN/topics/100000000928670.md) - [zh-HK](https://longbridge.com/zh-HK/topics/100000000928670.md) author: "[Captain's Watch](https://longbridge.com/en/profiles/24747427.md)" generator: "portal-rs" --- # β˜•οΈ [Task Coins Giveaway] Daily Market Talk β€” OCBC Sell-Off Deepens OCBC is down about 10% in two days after Citi's sell call, and DBS and UOB are sliding with it. Rates aren't helping: the US 10-year just touched **5.35%**. Let's dig in πŸ‘‡ **πŸ’¬ Buying the bank dip in 10-share lots, or waiting for November results?** ## πŸ“Š Quick Recap β€” What Moved & Why ### πŸ‡ΊπŸ‡Έ US β€” Yields Take the Wheel Again **πŸ”‘ Key Event:** Fed minutes showed all 19 officials backed September's hike, and most see another one as appropriate by year-end. **The 10-year touched 5.35% before a strong auction (bid-to-cover 2.77) pulled long yields off the highs.** > @TheCollector**:** Interestingly, long duration yields are not budging. **πŸ‘€ Other to Watch** - **S&P 500** β†’ **-0.22%** to 7,801.75, snapping a four-day win streak; Nasdaq **-0.22%**, Dow **-0.66%**. October hike odds sit under 20%. - $Micron Tech(MU.US) β†’ **+4.1%** to $1,088 even as chip stocks fell 1.2%, after DA Davidson lifted its target to **$3,000**. - $SpaceX(SPCX.US) β†’ **-2.5%** as the market weighed its reported **US$40B** chip financing. - $Broadcom(AVGO.US) β†’ reportedly seeking **over US$50B** of financing for the custom chips it builds with OpenAI. - $Microsoft(MSFT.US) β†’ launched the Surface Laptop Ultra on Nvidia's RTX Spark chip, from **US$2,599**. ### πŸ‡ΈπŸ‡¬ Singapore β€” Citi's Sell Call Hits the Banks **πŸ”‘ Key Event:** Citi cut OCBC to sell with a **S$27.50** target, expecting flat Q3 earnings, and the stock fell **-5.9%** Wednesday. **This morning STI is down about** **-2.5%** **near 5,466, with OCBC off another** **-4.4%****, UOB** **-4.8%** **and DBS** **-3.2%****.** > @Vt3**:** I have invested on our 3 major banks, will DCA slowly if prices softened further. **πŸ‘€ Other to Watch** - $OCBC Bank(O39.SG) β†’ not every house agrees: RHB still has it as top pick with a **S$33.70** target. Q3 results land in the first week of November. - $JMSEA(C07.SG) β†’ **-7.7%** Wednesday on a Macquarie downgrade to underperform; it goes ex-dividend today, so part of this morning's drop is the payout. - $CapitaLandInvest(9CI.SG) β†’ in exclusive due diligence with IOI Properties on a 50/50 bid for One Raffles Place. - $SIA(C6L.SG) β†’ expanding its Air India tie-up to standalone code-shares across **126** weekly flights to eight Indian cities. - **Revolut** β†’ committing **S$350M** to Singapore over five years, with a new CBD office opening in early 2027. ### πŸ‡­πŸ‡° HK/China β€” Mainland Reopens, Tech Still Soft **πŸ”‘ Key Event:** Hang Seng is down about **-0.3%** near 24,066 as mainland markets reopen after Golden Week, with Hang Seng Tech off **-1.2%**. Alibaba is down **-1.4%** and Tencent **-0.6%**. ### 🌍 Other to Watch - πŸ’Ύ **Samsung** posted record Q3 operating profit of about **107.4T won** (US$80.1B), more than 8x a year ago but about 1% shy of estimates. - πŸ›’οΈ Brent is back above **$101** on a report that the White House asked for Iran strike options before the midterms; a Gulf of Mexico storm shut over **510,000** barrels a day. - πŸͺ™ Gold sits near **$4,110**, close to a nine-week low, as the Fed minutes kept hike bets alive. @Shyon**:** I would not chase aggressively here. I would rather wait for a pullback or scale in gradually. ## πŸ“… Upcoming Key Events | **When (SGT)** | **What** | | -------------- | ---------------------------------------------------------------------------------------------- | | **Thu 8 Oct** | 🏭 TSMC September sales πŸ‡ΊπŸ‡Έ PepsiCo results, 6pm πŸ‡ΊπŸ‡Έ Jobless claims, 8:30pm | | **Fri 9 Oct** | πŸ‡ΊπŸ‡Έ 30-year auction, 1am πŸ‡ΊπŸ‡Έ Delta results, before US open πŸ‡ΊπŸ‡Έ UMich consumer sentiment, 10pm | | **Watching** | 🌍 Hormuz shipping and US-Iran escalation | πŸ‘‡ Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨ 🚫 No duplicates Β· ⏰ Deadline: Oct 8, 2026, 11:59 PM SGT Not investment advice, just market talk πŸ™ ### Related Stocks - [DAL.US](https://longbridge.com/en/quote/DAL.US.md) - [O39.SG](https://longbridge.com/en/quote/O39.SG.md) - [U11.SG](https://longbridge.com/en/quote/U11.SG.md) - [D05.SG](https://longbridge.com/en/quote/D05.SG.md) - [STI.SG](https://longbridge.com/en/quote/STI.SG.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [C6L.SG](https://longbridge.com/en/quote/C6L.SG.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) ## Comments (67) - **WeeWin Β· 2026-10-08T15:45:25.000Z**: Most Singapore banks are not only profitable but also reliable πŸ‘πŸ‘πŸ‘ - **NewUser_hCn26 Β· 2026-10-08T15:42:45.000Z**: Citi’s sell call on OCBC triggers heavy Singapore bank profit-taking as soaring US yields fan recession fears. Lower 10-share lots make dip-buying accessible, but awaiting November earnings offers clarity. - **Ally Β· 2026-10-08T14:57:33.000Z**: With the major banks share prices sliding, it’s a good time for long term investors to buy lots and dollar cost average - **Vt3 Β· 2026-10-08T13:23:42.000Z**: NOW is night market not Day market 🎒 - **NewUser_oPJWOU Β· 2026-10-08T13:09:35.000Z**: Well the 10 year is still hovering near all time highs and this remains a rather problematic concern. What didn't help was also the rough decline of SG's 3 banks, as they dragged down the STI alongside other blue chip stocks and reits as well. I have already bought the dips in Reits last week so I'm - **NewUser_zS0M8w Β· 2026-10-08T12:57:20.000Z**: I personally believe the massacre of SG bank stocks are overdone. A pullback was always on the cards, but this has spilt over to the whole STI index. Moreover, Citi's analyst hasn't always given the right calls as well. And that's the tough part of being an analyst. It is a challenge to analyse and - **LazyCat Β· 2026-10-08T12:21:39.000Z**: It seems that most focus on the bank selloff instead of registering a broad SG market weakness today. Almost all discussions focused on the impact of the Citi analyst downgrade but is this the cause or just the trigger for the sell down? The toppishness/high valuation of the banks have been shared f - **optionspuppy Β· 2026-10-08T11:31:47.000Z**: πŸ›‘οΈ My Hedging StrategyWith markets looking volatile, I prefer not to put all my money into stocks. I would rather keep some exposure to gold and oil as a hedge. πŸͺ™ Gold can help diversify my portfolio when stocks become uncertain, while oil can benefit if geopolitical tensions or supply disruptions p - **NewUser_ThinkSwim Β· 2026-10-08T10:02:44.000Z**: If OCBC or DBS ever drops to single digits per share. I think the potential of rebound and upside will be huge as that most likely after a devastating crisis crash like 2008/09 time period. Why two banks because of their strong income streams (how they earned money) and purely DCA slowly into these - **The Β· 2026-10-08T09:05:30.000Z**: Micron US Stock rises despite its fell compared to other US Stocks.Local Straits Times and banks’ stocks decrease. Hong Kong stocks - Hang Seng Tech, Alibaba and Tencent stocks lower. Hope the companies can improve again. - **Tiffany lover Β· 2026-10-08T07:27:26.000Z**: Citigroup downgraded OCBC to Sell with a $27.50 target price; Q3 earnings are expected to be flat, and the stock fell 5.9% on Wednesday. The Straits Times Index (STI) dropped ~2.5% to around 5,466 this morning, with OCBC falling another 4.4%, UOB 4.8%, and DBS 3.2%.A sharp decline in the three major - **FaithAnchor Β· 2026-10-08T07:11:48.000Z Β· πŸ‘ 1**: $DBS(D05.SG)DBS got dragged lower after Citi’s cautious OCBC call. But is OCBC’s flattish outlook really a proxy for DBS? I don’t think soβ€”different earnings mix and catalysts. This feels more like sector sentiment than DBS fundamentals. - **Valenxis Β· 2026-10-08T06:41:37.000Z**: banks selling off. since heavy weightage, it drag sti down too. if intend to buy banks or sti etf, can keep closer and look in case falling knife otherwise wait rebound confirmation if unsure . or buy it confident it has bottomed. - **Captain Leo** (2026-10-08T11:08:10.000Z): Naming beforehand what you need to see before stepping into DBS, OCBC or UOB turns a red day into a plan, not a guess. - **Vt3 Β· 2026-10-08T05:30:24.000Z**: B4 I know long bridge, am chasing Netflix and also do travelling, now like no time for me daily day n night so much things just to read them if I can lol, not sure this is right life style for me alsoπŸ€¦β€β™€οΈπŸ™ˆπŸ™ŠπŸŽ’ - **Fattycat** (2026-10-08T05:35:02.000Z): Try to use AI. Summarised the points. The way how to keep yourself updated with market developments.Maybe this is my interest . I always keen to know about it. I will do the travelling when I am 100% - **Vt3** (2026-10-08T06:31:09.000Z): I used my co pilot only to do more complex stuff not for market development lah - **NewUser_CkrdqW Β· 2026-10-08T05:18:59.000Z**: The good days of investing locally are over? I was pretty vocal and proud previously over the past 6 months that our local banks and STI have been outperforming the S&P, but the recent sell rating from Citi + reduced board lot shares means more people are inclined to take profits first and sell, - **Captain Leo** (2026-10-08T11:14:40.000Z): Writing down how a 10% slide in the banks feels while it happens gives you something honest to reread at the next peak. - **win win Β· 2026-10-08T05:16:39.000Z**: DBS OCBC UOB, yesterday OCBC dropped more than 5%, today DBS over take OCBC, now it is Top losses. Let's see what is the closing price at 5pm - **Fattycat** (2026-10-08T06:49:27.000Z): Year to dated STI still up 16%. 😁. - **Vt3 Β· 2026-10-08T05:15:37.000Z Β· πŸ‘ 1**: Btw who is the big pro for bank stocks here who owed 100 shares for all 3 banks, am asking cos now I now the turnaround either up or down is heavy not to say am holding just 1/10 daily am seeing $100 turnaround Liao Lol, Who the bank pro hereβ‰οΈπŸ˜œ - **Fattycat** (2026-10-08T05:19:36.000Z): Give u a hint. Someone always post his/her daily articles. ( definitely not me ). You can see his badges 🀣🫒. - **Vt3** (2026-10-08T05:21:01.000Z): You like πŸ’ everywhere I know lah πŸ˜… - **Fattycat** (2026-10-08T05:22:19.000Z): No choice. Old man nothing to do waiting for retirement πŸ˜ͺ. - **koolgal Β· 2026-10-08T05:13:16.000Z Β· πŸ‘ 1**: The Singapore Banks Selloff Continues on Thursday. What Should Investors Do?🌟🌟🌟The selling pressure on the SGX has intensified on the 2nd day, turning what started as a single broker downgrade into a broader macro rout. Following Wednesday's initial hit, the 3 local banks $DBS(D05.SG)$OCBC Bank(O3 - **Captain Leo** (2026-10-08T11:11:34.000Z): Framing the answer by time horizon instead of one verdict for everyone is what makes this useful to more readers. A dividend holder and a swing trader should not be doing the same thing during a two-d - **ζ–°η”¨ζˆΆ_POEYmH Β· 2026-10-08T05:00:01.000Z Β· πŸ‘ 1**: OCBC stock has broken below 3, and UOB will likely break below 4 next. DBS is also very likely to drop below 7. Holding just one lot of these 10 stocks feels like a real trap πŸ˜‡ - **ζ–°η”¨ζˆΆ_POEYmH Β· 2026-10-08T04:51:29.000Z Β· πŸ‘ 1**: Previously, bank stocks required 100 shares per lot, now reduced to 10 shares per lot. This seemingly simple yet abnormal move must have some hidden motives. Before, with 100 shares per lot, you could only bet if you had money; otherwise, you could only watch. Now, it's so easy to place a bet with j --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**