UOB: CS note that Underperformance overdone and valuations are starting to look attractive.
UOB now trades at 1.1x P/B, at decade lows excluding 2009. It appears overextended (-1.8 sd) vs 5yr avg of 1.6x and P/B vs peers is near 5yr lows. House think it is too early to assume UOB’s asset quality performance could be worse this cycle than peers’ and while book value risks are real, mgt has been actively managing the exposure and has
already taken provisions on the exposure. UOB’s underperformance appears overextended and could reverse in the short term.
UOB is ‘aggressively’ reducing its exposure to European securities, now significantly below $1b (vs S$1.2b as of Sept). With pressure on funding costs and efforts to shore up USD liquidity further, NIMs will probably remain under pressure near term. Asset quality remains comfortable—the NPL increase in 3Q11 does not indicate an incremental deterioration of the book. House however maintain U/p, TP $17.70.
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UOB
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UOB
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sgnewbie
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12-Jan-2012 09:16
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Kim Eng on Singapore Banks http://sg-shares.blogspot.com/2012/01/singapore-banking-sector.html |
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3SGreen
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14-Dec-2011 19:37
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UOB Short Setup Found ! http://marketwizardsllp.blogspot.com  |
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krisluke
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28-Nov-2011 22:32
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UOB |
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New123
Elite |
24-Nov-2011 14:20
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Yup! if the rebounce is not strong, most probably it will go down further...
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mazimaz10
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24-Nov-2011 12:34
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This one go rwebound no use where the other 2 banks OCBC and DBS not moving and going down................. | ||
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marubozu1688
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24-Nov-2011 10:55
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Probably will go lower after the rebound. http://mystocksinvesting.com/singapore-stocks/uob-bank/uob-bank-can-it-go-lower/ |
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marubozu1688
Veteran |
27-Oct-2011 23:16
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Just one news from Europe to change the technical landscape for UOB. If clear 50D MA resistance, UOB is getting the bull whip again! http://mystocksinvesting.com/singapore-stocks/ocbc-bank/singapore-banks-dbs-ocbc-uob-getting-bullish/ |
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dc16888
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21-Oct-2011 10:10
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Uob trades below 20ma currently, http://www.tradestockdiary.blogspot.com |
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marubozu1688
Veteran |
20-Oct-2011 23:40
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Support turned resistance for UOB now. Game Over for the Bull! http://mystocksinvesting.com/singapore-stocks/uob-bank/united-overseas-bank-uob-bear-bear-bear/ |
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marubozu1688
Veteran |
23-Sep-2011 23:19
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Shorting Opportunity for UOB if the support is broken... Very close now!! http://mystocksinvesting.com/singapore-stocks/uob-bank/united-overseas-bank-uob-load-your-short-gun/ |
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bryancbq
Master |
01-Sep-2011 09:06
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UOB was CD yesterday right? Was in for a trade, so didnt notice. haha. | ||
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ktnpl2005
Member |
31-Aug-2011 22:14
Yells: "Be Happy!" |
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Strong buying interest for UOB today. 1.648m shares were snapped up at closing. If there is no major bad news over the weekend, it is poised to surge to $20 by next week. | ||
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oceanblue
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15-Aug-2011 13:40
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The 3 local banks are in positive territory today. DBS cleared already $14. Can UOB clear $19? | ||
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rotijai
Supreme |
12-Aug-2011 21:26
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haha.. i looked at uob kayhian.. haha pai seh.. sry my fault
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Buzzoff
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12-Aug-2011 21:06
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You saw wrongly lah. They are giving out $0.20 dividend. Revenue and profit increased. | ||
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rotijai
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12-Aug-2011 18:08
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profit drops 17%.. and.. 0.5 cent dvd ?? do i read wrongly ? they only give out 0.5 cent ?? @_@
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oceanblue
Senior |
12-Aug-2011 17:56
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Went up quite a bit at closing. Results announced after closing.Got give dividend. | ||
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vonntan
Senior |
27-Jun-2011 23:17
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UOB formed a shooting star candlestick pattern today. stocastics retracing from overbought and pointing downwards. RSI also pointing down and MACD forming bearish crossover. caution needed. http://sgsharemarket.com/home/2011/06/singapore-stock-market-screener-27062011/?=UOB |
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pharoah88
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06-May-2011 18:57
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Friday: 7 May 2011 Malaysia Raises Interest Rates to 3% BLOOMBERG Malaysia yesterday raised interest rates for the first time this year and asked banks to set aside more cash as reserves for a second time, joining India in stepping up the fight against inflation, amid surging oil and food prices worldwide. Bank Negara Malaysia (BNM) increased its overnight policy rate to 3 per cent from 2.75 per cent. The statutory reserve requirement level will rise to 3 per cent from 2 per cent, effective on May 16. BNM governor Zeti Akhtar Aziz, the first to raise rates in Asia last year as the region led a recovery from the global recession, is resuming rate hikes after pausing since July as inflation accelerated to a 23-month high. India boosted borrowing costs this week for the ninth time since mid-March of last year as rising prices force nations to tighten monetary policy at the risk of slowing growth. The South-east Asian nation’s economy may expand 5 to 6 per cent this year, easing from a decade-high of 7.2 per cent last year, according to the central bank. |
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eplepl
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29-Apr-2011 19:30
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singapore banks.... affected soon ? BEIJING: The World Bank warned on Thursday measures to cool China's red-hot real estate sector could trigger a sudden downturn in the market, posing risks for the world's second-largest economy. But the Washington-based lender said it was " too early" for authorities to halt monetary tightening because inflation expectations remained high and much of the impact of soaring global commodity prices was " still in the pipeline" . " Shocks to the property sector that would slow down construction significantly could have a large impact on the economy and on bank balance sheets," the World Bank said in its China quarterly update. " Moreover, a property downturn could affect the finances of local governments, which do a lot of the infrastructure investment and are important clients of the banking system." Beijing has introduced a range of measures to cool the property market since late 2009 after a flood of bank lending sent real estate prices soaring and fuelled fears of a dangerous bubble in the key sector. Authorities -- worried high prices could spark social unrest -- have banned purchases of second homes in some cities and increased minimum down-payments. Cities such as Shanghai and Chongqing have introduced trial property taxes. The central bank has also repeatedly raised the amount of money banks must keep in reserve, effectively restricting lending, and hiked interest rates to fight inflation, which in March hit its highest level since July 2008. Data released earlier this month suggested the measures could be having an impact, with a small but growing number of Chinese cities seeing the cost of new homes falling in March. But the World Bank warned " interaction between the market and policy measures could lead to a more abrupt than planned downturn in the real estate market" . " In the medium term the widespread use of property as (an) investment vehicle and the role of local governments add to the risks," it said. While the World Bank said its inflation projections were " not particularly worrying" -- five per cent for 2011 compared with 3.3 per cent in 2010 -- the risks from further global commodity price rises called for " vigilance" . " Macroeconomic policy remains key in limiting the spill-over of higher prices of food and other raw commodities into other prices and wages and containing other risks, including in the property market," the report said. The World Bank also forecast China's economic growth would slow to 9.3 per cent this year compared with 10.3 per cent in 2010. That was higher than its previous forecast in January for 8.7 per cent growth and the upgrade follows stronger than expected growth in the last two quarters. |
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