SINGAPORE, Feb 5, 2026, 14:46 SGT — Regular session
- DBS shares gained roughly 0.4%, trading around S$59.57 in afternoon session, staying just below the S$60 mark. (Investing)
- Singapore’s benchmark STI hit a fresh record close for the second day running on Wednesday, buoyed by gains in local banks. (The Straits Times)
- Asian markets edged lower Thursday following a tech-driven selloff on Wall Street, leaving risk appetite on shaky ground. (AP News)
Shares of DBS Group Holdings (DBSM.SI) edged up 0.4% to S$59.57 in Singapore afternoon trading on Thursday, after hitting an intraday high of S$59.59. The stock has fluctuated between S$36.30 and S$60.00 over the last 12 months. By mid-session, roughly 2.5 million shares had changed hands. (Investing)
This matters since DBS remains close to a key round-number level that tends to attract short-term traders. Being one of the largest components in Singapore’s benchmark index, even a slight shift in the bank’s shares can pull the broader market along.
Markets are off to a rough start worldwide. Asian stocks dropped as investors balked once more at the rising costs tied to the AI surge, sparked by fresh scrutiny of Alphabet’s forecasted capital expenditure—spending on equipment and infrastructure. “That increase in capex was absolutely enormous,” said Tony Sycamore, an analyst at IG. (Reuters)
Domestically, the bank trio carried the momentum. Singapore’s market hit yet another record close Wednesday. DBS gained 0.5% to S$59.33, with OCBC and UOB also pushing higher, according to The Business Times. SPI Asset Management’s Stephen Innes summed it up: “Asia followed briefly out of habit, then stopped obeying.” (The Business Times)
Traders said Thursday’s rise in DBS wasn’t driven by any new company news but seemed more like investors positioning ahead of next week’s earnings and dividend announcement. The real test will be whether the bank can hold its ground if the broader risk sentiment weakens.
Currency markets are showing signs of jitters. “There’s a bit of risk aversion coming through,” said Sim Moh Siong, a currency strategist at OCBC in Singapore, as the dollar picked up steam ahead of policy announcements from the European Central Bank and the Bank of England. (Reuters)
Bank investors face a clear challenge: listen closely to what management reveals about 2026 and watch how they allocate capital. Even a slight signal of a weaker outlook or a more conservative payout approach can trigger a sharp reaction, especially when the stock is perched near its recent highs.
Still, risks remain. Bank earnings depend largely on net interest margin — the gap between loan income and deposit costs — which could shrink if rates drop more or deposit competition intensifies. Credit costs also pose a threat, particularly if a softer economy begins to show up in corporate loan losses.
DBS plans to release its fourth-quarter and full-year 2025 results on Feb. 9, as listed in its investor events calendar. (DBS Bank)
