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Finance

DBS, OCBC, UOB push STI to new highs as institutions pile in ahead of earnings

[SINGAPORE] A surge of institutional capital into the Singapore market is driving local banks into uncharted territory, with DBS shares breaching the S$70 threshold for the first time. The counter ...

Source: RSS · July 23, 2026 at 5:41 PM · AI-assisted report

SINGAPORE, 24 JULY 2026 —

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Headline: DBS, OCBC, UOB push STI to new highs as institutions pile in ahead of earnings Lead: [SINGAPORE] A surge of institutional capital into the Singapore market is driving local banks into uncharted territory, with DBS shares breaching the S$70 threshold for the first time. The counter ... Body: [SINGAPORE] A surge of institutional capital into the Singapore market is driving local banks into uncharted territory, with DBS shares breaching the S$70 threshold for the first time.

Market Impact

The counter rose 1.6 per cent to close at S$70.23 on Thursday (Jul 9). Shares of OCBC and UOB also hit record highs as they rose 2 per cent to S$27.32 and 2.3 per cent to S$44.34, respectively.

This drove the Straits Times Index (STI) up 1.2 per cent to 5,433.88 points.

The record-breaking run comes as investors get a foot in ahead of the upcoming corporate earnings season in early August.

With the trio of banks historically offering robust yields, traders appear to be actively locking in shares to capture first-half dividend payouts.

This week’s momentum builds on a structural rally that began earlier in the month. The initial leg of the banks’ record run was sparked in early July by a bullish Citi target price upgrade and a reversal in banking system liquidity, which eased concerns over deposit costs and loan margins.

The banking sector’s strength is also serving as a barometer for a fresh wave of institutional capital flowing into the Singapore market.

Singapore equities attracted S$611 million in net institutional inflows in June, reversing more than 40 per cent of cumulative net outflows recorded over the previous five months, said Singapore Exchange market strategist Geoff Howie.

Financial services led institutional buying with S$683 million in net inflows – UOB had the largest individual inflow at about S$420 million. Among the banks, OCBC followed at S$119 million and DBS at S$102 million.

UOB has sustained its own record-high momentum through a S$2 billion share buyback programme it started in 2025. Its aggressive buybacks in recent days have not only tightened the supply of available shares but also signalled internal confidence in the bank’s valuation.

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Lermit Road bungalow owned by family of Dennis Lee’s son on the market at S$98.8 million Source: RSS Published: 2026-07-09T02:55:00.000Z Region: ASEAN Topic: Finance (AI-assisted rewrite, based on the original source)

Related: DBS · Singapore

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