OCBC shares slide 5.2% intraday, wiping about S$7 billion off its value

The Business Times reports OCBC shares were down 5.2% at 11:11 a.m. on October 7. Its value had fallen from nearly S$145 billion the previous day to about S$138 billion by 11 a.m. Citi downgraded the stock from “neutral” to “sell,” while UOB Kay Hian kept OCBC as its preferred bank “buy.”