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OCBC shares drop after announcing bid for HK's Wing Hang Bank

Published on Jan 7, 2014 12:04 PM
 
Office workers pass an Oversea-Chinese Banking Corp (OCBC) building in the central business district of Singapore on Jan 6, 2014. OCBC shares fell on Tuesday morning as investors worry it may end up overpaying for its planned acquisition of Hong Kong's Wing Hang Bank. -- PHOTO: REUTERS

Shares of Singapore lender OCBC fell on Tuesday morning as investors worry it may end up overpaying for its planned acquisition of Hong Kong's Wing Hang Bank.

OCBC's shares dipped as much as 1.4 per cent to $9.73 on Tuesday, extending a 1.5 per cent loss from the previous day.

Wing Hang shares gained 1 per cent to HK$116.80 in Hong Kong, following a 1.4 per cent drop on Monday.

Both stocks resumed trading after suspensions on Monday.

 
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