"OCBC is one of the biggest beneficiaries of flows into Singapore as a wealth management hub," state analysts Harsh Wardhan Modi and Daniel Andrew Tan in their Jan 9 note.
Oversea-Chinese Banking Corporation (OCBC) (SGX:O39
) shares dipped slightly this morning after JP Morgan downgraded its call from "overweight" to "neutral", as the various positives driving the gain of nearly 20% in the past 6 months have been priced in.
As at 9.39 am, OCBC shares are down 1.49% to $19.87, off its recent new high of $20.25 earlier this week.
