Singapore, Jan 19, 2026, 15:00 SGT — Regular session
- UOB shares edged up 0.05% to S$36.76 in afternoon trading, holding close to the session’s peak
- DBS dropped 0.81%, while OCBC edged down 0.49%, dragging the bank-driven Singapore market lower
- Traders are focused on UOB’s Jan. 21 perpetual securities offering and a packed week of rate and inflation data.
Shares of United Overseas Bank Ltd ticked up slightly on Monday afternoon, outpacing DBS Group and OCBC as Singapore’s main index fell. By 2:48 p.m. local time, UOB was trading 0.05% higher at S$36.76, within a range of S$36.38 to S$36.85. (SG Investors)
The three lenders dominate the Straits Times Index and often amplify moves in risk appetite. When expectations for rates and growth shift, investors typically pivot to bank stocks first.
Singapore’s Straits Times Index slipped 0.5% by 1:50 p.m., according to local outlets. (The Straits Times)
DBS fell 0.81% to S$58.64, while OCBC dipped 0.49% to S$20.34, data showed. UOB held up better, trading as the least weak among the big three in mid-session. (SG Investors)
In Asia, risk appetite waned after U.S. President Donald Trump warned of fresh tariffs targeting eight European countries, sending investors scrambling for safe havens like gold. George Saravelos, Deutsche Bank’s global head of FX research, called it “a weaponisation of capital rather than trade flows.” This week’s market watchers also eye U.S. inflation and consumer spending data due Thursday, along with Friday’s Bank of Japan meeting. (Reuters)
Bank of Singapore has named Collins Chin as its global chief financial officer, effective immediately, the private bank announced. Chin previously led investor relations at parent company OCBC. (Reuters)
UOB’s latest entries on the SGX include daily share buy-back notices from Jan. 15-16 and a perpetual securities pricing announcement from Jan. 14, according to exchange records. (SG Investors)
A filing with the Singapore Exchange on Jan. 16 revealed that UOB repurchased 38,000 shares for around S$1.39 million, then cancelled them. The total buybacks under the current mandate now stand at about 19.2 million shares, representing roughly 1.15% of its issued stock. (SGX Links)
UOB announced last week the pricing of S$850 million in perpetual capital securities, offering a fixed 3% distribution rate. This falls under its US$30 billion global medium-term note programme. The issue is set for Jan. 21, with the first call date in 2033. After that, the coupon will reset to a seven-year SORA swap rate plus the initial 0.94% spread. Distributions on these securities are non-cumulative. (The Business Times)
Perpetuals don’t have a fixed maturity, though the bank can redeem them at the call date. These terms are crucial since they affect funding costs and capital buffers. SORA, or Singapore Overnight Rate Average, serves as a key benchmark for Singapore dollar lending and derivatives.
UOB’s current steadiness could unravel fast if tariff threats escalate into a prolonged trade war or if rate forecasts shift once more. Falling yields squeeze bank lending margins, and a slowdown usually leads to rising credit losses down the line.
Traders are eyeing UOB’s Jan. 21 capital securities issue closely, while also digesting inflation data and central-bank cues this week to gauge their impact on bank margins and market mood.
