Singapore, Jan 21, 2026, 14:49 SGT — Regular session
- DBS shares slipped further in mid-afternoon, extending losses from an early drop at the open.
- Singapore’s trio of banks kicked off trading lower amid a dip in global risk appetite.
- Traders eye Davos updates ahead of DBS’s Feb. 9 earnings report.
DBS Group Holdings Ltd (D05.SI) shares dipped 0.3% to S$57.94 by 2:39 p.m. in Singapore, shedding 19 cents on the day. The stock had last closed at S$58.13, fluctuating between S$57.40 and S$58.08 during the session. Its 52-week range remains between S$36.30 and S$59.25. 1
The shift is significant as markets have taken a defensive stance, with investors scaling back on riskier bets following U.S. President Donald Trump’s renewal of tariff threats connected to Greenland. Mantas Vanagas, senior economist at Westpac, noted that the “‘sell America’ trade was the driving force behind major market moves overnight.” 2
Wall Street’s key indexes suffered their sharpest one-day decline in three months Tuesday, with volatility measures spiking as investors reassessed political risks. Jamie Cox, managing partner at Harris Financial Group, remains unconvinced that the Greenland tariff dispute will trigger a full-blown equity selloff. 3
Singapore’s Straits Times Index dropped 0.6% to 4,800.73 by 9:03 a.m. The trio of local banks also opened in the red. DBS fell 0.6% to S$57.77 at 9:04 a.m., OCBC slipped 0.2% to S$20.31, and UOB slid 1.1% to S$36.33, according to The Business Times. 4
DBS has gained roughly 2.8% year-to-date, though it slipped around 0.7% in the last five sessions. This comes after a strong run that took it close to S$59.25 earlier this month. According to MarketScreener, the stock last closed at S$58.13. 5
DBS is set to report its full-year 2025 results before markets open on Monday, Feb. 9, according to a notice from SGX. 6
Investors are tuning in for shifts on dividends and capital, hunting for hints on loan demand and credit quality. They’ll also gauge management’s take on the trading and fee environment following a volatile week for global markets.
For now, politics, not balance sheets, is the critical swing factor. Should tariff threats solidify into actual policy, risk appetite may take another hit, adding more pressure on major banks like DBS.
Singapore traders now face the late-day wave of Davos headlines, watching closely how the market absorbs them into the close. Eyes then turn to DBS on Feb. 9.
