$UOB(U11.SG)UOB has pulled back despite remaining up more than 20% YTD, suggesting some profit-taking after a strong run…
$UOB(U11.SG)
UOB has pulled back despite remaining up more than 20% YTD, suggesting some profit-taking after a strong run. I’m still not too concerned just yet, as the broader banking story remains intact. All eyes are now on the US midterms. A Republican sweep, which markets are not pricing in, could trigger a shift in sentiment and provide a catalyst for UOB to rebound (due to higher expectations of US rates). I’m holding on and watching how things unfold.
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