OCBC remains my defensive anchor. Its wealth management strength and conservative balance sheet should cushion margin pressure. If this quarter is more about managing downside than beating expectations, I think OCBC holds up better with steadier earnings.
I’m more cautious on $UOB(U11.SI)$ due to ASEAN exposure and credit cost risks. That said, low expectations could still lead to a rebound if results surprise. Overall, valuations look fair, not cheap — yield is supportive, but NIM pressure isn’t fully priced in.
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