CNA Explains: Why are Singapore bank shares falling after a record run?
Singaporean bank stocks, including OCBC, UOB, and DBS, experienced a sharp decline following a Citi downgrade of OCBC. Analysts attribute the sell-off to profit-taking after record highs and concerns regarding rising funding costs.
Why it matters
The volatility in major Singaporean banks reflects broader investor caution and shifting economic expectations in the financial sector.
Singapore bank stocks tumbled for the second day in a row after a Citi report downgraded OCBC to a “sell” rating, saying it expected the bank's third-quarter earnings to be flat from a year earlier.
A row of ATMs in Singapore. (File photo: CNA/Jeremy Long)
Chelsea Ong 08 Oct 2026 05:40PM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a new cards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST SINGAPORE: Singapore bank stocks tumbled for the second straight day on Thursday (Oct 8), extending a sell-off sparked by a Citi downgrade of OCBC.
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