Apr[7] - Banks Review

Generally, banks have hit resistance over past two months. 19.4 (dividend yield ~ 3%) seems to be ceiling for DBS. A higher low formation suggests pretty strong demand from investors. OCBC has been range bouncing between 9.4 to 9.78 (dividend yield ~ 3.7%). The group has been buying back shares from open market actively and regularly until last week. Following potential bankruptcy from Ezra, non performing loan (NPL) shall be one major focus to banks on coming results announcement. Net income has been falling quarter on quarter and year on year. Investors shall pay attention as well on whether any rebound on banks' earning strength.