UOB and Singapore Banks – more room to fall with institutional funds flowing out?

In the fourth quarter of 2023, the financial sector experienced net institutional outflows on the Singapore Exchange (SGX), reversing the net inflows seen in the previous quarter.

These outflows amounted to nearly S$800 million, effectively unwinding the gains from Q3. Throughout 2023, the three local banks were major contributors to the net institutional outflows within the Straits Times Index (STI), totaling S$2.6 billion in net institutional selling.” 📊💸

A chart from IG and SGX gives a lot of insights to the fund flow of Singapore banks.

OCBC Bank(O39.SG) DBS Group Holdings(D05.SG) UOB(U11.SG)

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Technical price points:

Specifically to UOB(U11.SG)which I think is one of the weakest banks technically:

1. Resistance is seen around 28.80

2. Price is below a cluster of moving averages. Trading below 28 will likely set price lower towards 27 support.

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UOB and Singapore Banks – more room to fall with institutional funds flowing out?

In the fourth quarter of 2023, the financial sector experienced net institutional outflows on the Singapore Exchange (SGX), reversing the net inflows seen in the previous quarter.

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Get a FULL CASH refund* on The Alien Wash Course

The Alien Wash Course (Module 1)

The Alien Wash Course (Module 2)