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Straits Times Index Rises over 1% to a Record High; Singapore Banks Hit Record Intraday Highs with UOB Up 4.2%; OCBC Bank Up 3%

Shares of three major Singaporean lenders, DBS Group, Oversea-Chinese Banking Corp. and United Overseas Bank, hit record highs on improved sentiment and earnings outlook.UOB hit its fifth consecutive...

Straits Times Index Rises over 1% to a Record High; Singapore Banks Hit Record Intraday Highs with UOB Up 4.2%; OCBC Bank Up 3%

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Both banks have closed at record highs in recent sessions.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/564724c484205fd07e7c43c046fe4063\" data-align=\"center\" tg-width=\"648\" tg-height=\"171\"/><span></span></p><p style=\"text-align: left;\">Macquarie turned more bullish on the sector and upgraded its stock rating for DBS and UOB to outperform from neutral, raising its target price for DBS to S$70.86 from S$52.38, and for UOB to S$45.16 from S$36.78.</p><p style=\"text-align: left;\">It retained an outperform rating on OCBC and lifted its target price to S$27.76 from S$24.25.</p><p style=\"text-align: left;\">&#34;We see further re-rating potential, supported by an improved sector outlook in which net interest income and non-interest income can grow in tandem,&#34; while the Singapore dollar remains a preferred currency amid broad U.S. dollar strength, said Jayden Vantarakis, head of Asean equity research at Macquarie Capital, in a note.</p><p style=\"text-align: left;\">Citi on Tuesday lifted its target prices on all three banks as it expects better earnings growth in 2027 and 2028 on a recovery in loans growth.</p><p style=\"text-align: left;\">The three banks&#39; gains, which make up about half of the FTSE Straits Times Index&#39;s weighting, sent the benchmark index to another fresh high on Wednesday. It was last 1.1% higher at 5401.97.</p><p style=\"text-align: left;\">The Straits Times Index&#39;s near-term trajectory will be shaped by the upcoming earnings releases from the three banks, said James Ooi, market strategist at Tiger Brokers in a note.</p><p style=\"text-align: left;\">&#34;Although investors remain concerned about the limited upside from net interest margin recovery, the strong momentum in wealth management and growing net fee income could provide a meaningful offset, even if interest rates stay lower for longer,&#34; said Ooi.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Straits Times Index Rises over 1% to a Record High; Singapore Banks Hit Record Intraday Highs with UOB Up 4.2%; OCBC Bank Up 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStraits Times Index Rises over 1% to a Record High; Singapore Banks Hit Record Intraday Highs with UOB Up 4.2%; OCBC Bank Up 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-07-08 14:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">Singapore&#39;s benchmark stock index rose over 1% to a record high of 5,411.20 points on Wednesday.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e51aa79e2889f185e3642621ac26e145\" data-align=\"center\" tg-width=\"762\" tg-height=\"504\"/><span></span></p><p style=\"text-align: left;\">Shares of three major Singaporean lenders, DBS Group, Oversea-Chinese Banking Corp. and United Overseas Bank, hit record highs on improved sentiment and earnings outlook.</p><p style=\"text-align: left;\">UOB hit its fifth consecutive record intraday high on Wednesday and last traded 4.22% higher at 43.45 Singapore dollars at midday, equivalent to US$33.75, after hitting S$43.79 earlier.</p><p style=\"text-align: left;\">DBS was 1.18% higher at S$69.67, while OCBC traded 2.92% higher at S$27.11. Both banks have closed at record highs in recent sessions.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/564724c484205fd07e7c43c046fe4063\" data-align=\"center\" tg-width=\"648\" tg-height=\"171\"/><span></span></p><p style=\"text-align: left;\">Macquarie turned more bullish on the sector and upgraded its stock rating for DBS and UOB to outperform from neutral, raising its target price for DBS to S$70.86 from S$52.38, and for UOB to S$45.16 from S$36.78.</p><p style=\"text-align: left;\">It retained an outperform rating on OCBC and lifted its target price to S$27.76 from S$24.25.</p><p style=\"text-align: left;\">&#34;We see further re-rating potential, supported by an improved sector outlook in which net interest income and non-interest income can grow in tandem,&#34; while the Singapore dollar remains a preferred currency amid broad U.S. dollar strength, said Jayden Vantarakis, head of Asean equity research at Macquarie Capital, in a note.</p><p style=\"text-align: left;\">Citi on Tuesday lifted its target prices on all three banks as it expects better earnings growth in 2027 and 2028 on a recovery in loans growth.</p><p style=\"text-align: left;\">The three banks&#39; gains, which make up about half of the FTSE Straits Times Index&#39;s weighting, sent the benchmark index to another fresh high on Wednesday. It was last 1.1% higher at 5401.97.</p><p style=\"text-align: left;\">The Straits Times Index&#39;s near-term trajectory will be shaped by the upcoming earnings releases from the three banks, said James Ooi, market strategist at Tiger Brokers in a note.</p><p style=\"text-align: left;\">&#34;Although investors remain concerned about the limited upside from net interest margin recovery, the strong momentum in wealth management and growing net fee income could provide a meaningful offset, even if interest rates stay lower for longer,&#34; said Ooi.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","SGXZ16066938.SGD":"FULLERTON SINGAPORE VALUE-UP \"A\" (SGD) ACC","LU2238330802.EUR":"AZ EQUITY - ASEAN COUNTRIES \"AAZ\" (EUR) ACC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","SG9999013478.USD":"利安新加坡股息基金","LU0188438112.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","BK6112":"综合性银行","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","LU1522347837.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC A","SG9999000459.SGD":"Aberdeen Standard Pacific Equity SGD","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","LU0878004406.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) INC","LU0261945553.USD":"FIDELITY ASEAN \"A\" ACC","SG9999002620.SGD":"LionGlobal South East Asia SGD","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU1770036033.HKD":"NINETY ONE GSF ASIAN EQUITY \"A\" (HKD) ACC","U11.SI":"大华银行","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU0532188223.SGD":"JPMorgan Funds - ASEAN Equity A (acc) SGD","LU0205439572.USD":"富达亚太股息基金","LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A","D05.SI":"星展集团控股","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU0048573645.USD":"富达东盟基金","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999013353.USD":"SCHRODER ASIAN INCOME FUND\"A\" (USDHDG) INC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0648948544.HKD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AM\" (HKD) INC","IE00BKZH1Z71.USD":"BNY MELLON ASIAN INCOME \"B\" (USD) ACC","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","O39.SI":"华侨银行","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","IE00BVYPNQ40.USD":"GUINNESS ASIAN EQUITY INCOME \"C\" (USD) ACC","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","BK6516":"银行与投资服务概念","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","LU0345775950.USD":"NINETY ONE GSF ASIAN EQUITY \"A\" (USD) ACC","LU2663582299.SGD":"BSF BLACKROCK SYSTEMATIC ASIA PACIFIC EQUITY ABSOL \"A2\" (SGDHDG) ACC"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2649995774","content_text":"Singapore's benchmark stock index rose over 1% to a record high of 5,411.20 points on Wednesday.Shares of three major Singaporean lenders, DBS Group, Oversea-Chinese Banking Corp. and United Overseas Bank, hit record highs on improved sentiment and earnings outlook.UOB hit its fifth consecutive record intraday high on Wednesday and last traded 4.22% higher at 43.45 Singapore dollars at midday, equivalent to US$33.75, after hitting S$43.79 earlier.DBS was 1.18% higher at S$69.67, while OCBC traded 2.92% higher at S$27.11. Both banks have closed at record highs in recent sessions.Macquarie turned more bullish on the sector and upgraded its stock rating for DBS and UOB to outperform from neutral, raising its target price for DBS to S$70.86 from S$52.38, and for UOB to S$45.16 from S$36.78.It retained an outperform rating on OCBC and lifted its target price to S$27.76 from S$24.25.\"We see further re-rating potential, supported by an improved sector outlook in which net interest income and non-interest income can grow in tandem,\" while the Singapore dollar remains a preferred currency amid broad U.S. dollar strength, said Jayden Vantarakis, head of Asean equity research at Macquarie Capital, in a note.Citi on Tuesday lifted its target prices on all three banks as it expects better earnings growth in 2027 and 2028 on a recovery in loans growth.The three banks' gains, which make up about half of the FTSE Straits Times Index's weighting, sent the benchmark index to another fresh high on Wednesday. It was last 1.1% higher at 5401.97.The Straits Times Index's near-term trajectory will be shaped by the upcoming earnings releases from the three banks, said James Ooi, market strategist at Tiger Brokers in a note.\"Although investors remain concerned about the limited upside from net interest margin recovery, the strong momentum in wealth management and growing net fee income could provide a meaningful offset, even if interest rates stay lower for longer,\" said Ooi.","news_type":1,"symbols_score_info":{"D05.SI":0.9,"U11.SI":0.65,"O39.SI":2}},"isVote":1,"tweetType":1,"viewCount":45,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}