Singapore, Jan 26, 2026, 14:51 SGT — Regular session
- DBS shares slipped in afternoon trading, pulling back from last week’s near-record highs
- Attention shifts to Thursday’s MAS policy review amid a firmer Singapore dollar
- The next major event for the stock is DBS’s results, set for Feb. 9
Shares of DBS Group Holdings slipped on Monday, pulling back slightly after a robust rally in Singapore’s banking sector. The stock dropped roughly 0.6% to trade at S$58.32 in afternoon deals. (Investing)
This shift is significant since banks are the main force behind the Straits Times Index, with investors relying on them for yield and consistent earnings. Two key events loom this week: Singapore’s central bank will speak Thursday, and DBS is set to report earnings in early February.
Traders are also parsing signals from the Monetary Authority of Singapore (MAS), which primarily steers policy through the currency rather than interest rates. MAS manages the Singapore dollar using a trade-weighted band called the S$NEER, fine-tuning it by adjusting the slope, mid-point, and width.
DBS wasn’t the only one feeling the chill. UOB shares slid over 3% in early trading, following a JPMorgan downgrade to “underweight.” This shift underscores how fast the mood can change after the sector’s recent surge. (The Business Times)
MAS is widely expected to hold rates steady at Thursday’s review, according to a Reuters poll, though opinions diverge beyond that. Tay Qi Hang, an analyst at Economist Intelligence Unit Asia, noted, “The Q4 2025 growth outperformance coupled with stable core inflation at just above 1% in November has reduced near-term pressure to ease.” (Reuters)
Currency shifts are ratcheting up the pressure. On Monday, the Singapore dollar hit its highest point against the U.S. dollar since late 2014. Some analysts warned that authorities might step in if the currency gains too much ground. (The Business Times)
DBS is gearing up for its next big moment: the release of fourth-quarter 2025 results on Feb. 9, according to its investor calendar. Traders will zero in on net interest income, fee growth in wealth management, credit costs, and any hints about dividends or capital returns. (DBS Bank)
DBS closed last week at S$58.65, having touched slightly higher earlier, keeping it near recent peaks despite Monday’s pullback. (The Straits Times)
That said, the downside is clear enough. If MAS suddenly changes its tone, global yields plunge more than expected, or loan demand shows signs of slowing, bank margins could suffer and valuations might be hit.
