Analysts say Singapore banks’ shares can climb higher
Shares of Singapore's major banks—DBS, OCBC, and UOB—have reached new highs driven by expectations of sustained high interest rates and strong quarterly earnings. Analysts have upgraded their outlooks, citing wealth management momentum and attractive dividend yields as primary growth drivers.
Why it matters
The performance of these banks serves as a key indicator of the health of the Singaporean financial sector and broader regional economic stability.
DBS, OCBC and UOB shares climbed to fresh highs on the back of positive investor sentiments.
Listen Summarise Singapore banks DBS, OCBC, and UOB reached new share price highs due to expectations of sustained higher interest rates and positive Q2 earnings outlook. Analysts highlight strong wealth momentum, attractive 4-5% dividend yields, and share buybacks as key drivers supporting bank share prices. From October, smaller board lot sizes will make bank shares more accessible to retail investors, potentially increasing trading activity and market participation. AI generated
SINGAPORE – DBS, OCBC and UOB shares climbed to fresh highs this week, buoyed by expectations that interest rates will stay higher for longer and growing investor optimism ahead of the banks’ second-quarter earnings reports in early August.
DBS vaulted past the $70 mark for the first time on July 9 , while OCBC broke through $27 and UOB surpassed $44.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in