Overall market sentiment has been high on Shinhan Financial Group Co., Ltd. (SHG) stock lately. SHG receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With SHG Stock Today?
Shinhan Financial Group Co., Ltd. (SHG) stock is trading at $35.89 as of 1:47 PM on Wednesday, May 12, a decline of -$1.70, or -4.52% from the previous closing price of $37.59. The stock has traded between $35.86 and $36.66 so far today. Volume today is below average. So far 85,041 shares have traded compared to average volume of 125,918 shares.
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More About Shinhan Financial Group Co., Ltd.
Shinhan Financial is Korea's largest banking group. Its 11.5% market share of loans trails KB's 13.3%, but Shinhan has more contribution from nonbank and overseas businesses than rivals. Nonbank units include Shinhan Card, the country's largest credit card company, brokerage firm Shinhan Investment, and a top-five presence in life insurance following the acquisition of Orange Life (formerly ING). It also owns leasing firm Shinhan Capital, Shinhan Asset Management, and regional bank Jeju Bank, among others. Unlike KB, whose predecessor banks were originally founded by the government, Shinhan has always been a private-sector bank, having grown to the top spot organically and through M&A after having been only a second-tier player before the Asian financial crisis.
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