Bad publicity for Ah Kong, DBS, UOB and OCBC. https://www.bloomberg.com/news/articles/2020-09-22/singapore-financial-regulator-is-studying-bank-report-findings
Passé news. Just a bit more KYC compliance & AML/anti-terrorism checks from 2021 onwards. And probably at most tap-on-the-fingers punishment for local banks.
The big systemic compliance overhaul immediately after 9/11 was a much bigger impact to the banks, but yet it didn't stop a big financial bull from 2003-2007.
The bigger catalyst for panic selling in the short term are US elections & Covid vaccine disappointments.
Pfizer/BioNTech will be the first to release vaccine trial effectiveness by end of next week.
If it's a failure .... Watch out below!! LOL!
The next 2 leading vaccine contenders (Moderna & AstraZeneca/Oxford Uni) are slated to release preliminary trial results by end-Oct/early-Nov.
China's Sinovac, CanSino, & Sinopharm experimental vaccines are already being given to some military and healthcare personnel. But China is keeping a news blackout on the effectiveness & results so far.
I bought some too.
ReplyDeleteBad publicity for Ah Kong, DBS, UOB and OCBC.
ReplyDeletehttps://www.bloomberg.com/news/articles/2020-09-22/singapore-financial-regulator-is-studying-bank-report-findings
Hope for more panic selling!
DeletePassé news. Just a bit more KYC compliance & AML/anti-terrorism checks from 2021 onwards. And probably at most tap-on-the-fingers punishment for local banks.
DeleteThe big systemic compliance overhaul immediately after 9/11 was a much bigger impact to the banks, but yet it didn't stop a big financial bull from 2003-2007.
The bigger catalyst for panic selling in the short term are US elections & Covid vaccine disappointments.
Pfizer/BioNTech will be the first to release vaccine trial effectiveness by end of next week.
If it's a failure .... Watch out below!! LOL!
The next 2 leading vaccine contenders (Moderna & AstraZeneca/Oxford Uni) are slated to release preliminary trial results by end-Oct/early-Nov.
China's Sinovac, CanSino, & Sinopharm experimental vaccines are already being given to some military and healthcare personnel. But China is keeping a news blackout on the effectiveness & results so far.