Jan[9] - Local Banks

Following announcement about negative interest rate from the Bank of Japan, Singapore market welcomed rebound which has been missing since early 2016. Market speculation about potential cut in production among OPEC and Russia also gave a boost to oil price thus preventing local counters from further down sliding. 

Reviewing price of the two local banks below, deep value is present as both are trading at book prices or even less. Last Friday rebound might not indicate beginning of new bull run, but generally forming a support line for both counters.

DBS: FY2015 result will be released on 22 Feb.

OCBC: FY2015 result will be released on 17 Feb.

Note:
Net asset value = entity's value - entity's liability 

*** Note: Same counter has been mentioned in Nov[9] ***