On 12 August about 2 months back, I wrote about owning banking stocks. The share prices of three local banks, namely DBS, OCBC and UOB, declined between 4% to 5% on that day (from the previous day).
Little I knew then that Singapore equities were in for a poor showing after that. The Straits Times Index (STI) was lowest for the year at 2,787.94 points on 29 Sep 2015.
The STI had risen to 3,068.46 points yesterday (23 Oct). The banking stocks had recovered somewhat to be close or not too far away from the 12 August prices. See table below.
|Bank||Share Prices ($)|
UOB share prices on 23 October is now higher than 12 August’s. I bought into UOB progressively at 200 units each time. The last lot was bought at $18.70 and I sold off yesterday to realise a gain of about 7.5% over a period of 2 months holding period.
I still have some shares in DBS, OCBC and UOB and intend to hold onto them for dividends at the end of 2015.
You can see that it is difficult to time the market for entry and exit during this volatile financial markets.
Disclaimer: Caution advised with regard to investing.
Copyright © 2015, limkimtong for Living Investment
The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.