It seems today is a marvelous day for STI! Going up 31 points when Dow drop 100 yesterday. Thank you DBS for the 70 cents move. Today DBS issued an overwhelming earnings results.
As quoted in shareinvestor.com,
DBS Group Holdings' net profit for first-quarter 2013 reached a record
SGD 950 million, rising 25% from the previous quarter and 2% from a year
ago. Total income rose 18% from the previous quarter to a new quarterly
high of SGD 2.32 billion from loan and deposit volume growth as well as
a broad-based increase in non-interest income. Return on equity rose to
12.0% compared to 11.2% for full-year 2012...
However it seems that not all stocks are gaining when looking at the Top 40 volume.
Do remember that Earnings season is the point in time where we take a look at our portfolio again. Put all the good earnings stocks down in your trading diary. These will be the stocks that are going to outrun and outclass the poor earnings stocks this season.
Do remember that banking stocks have done relatively well in last quarter results. That is the reason they continue its run these past 2 months. OCBC results have not been fantastic. Let us take a look at UOB next.