SINGAPORE, Feb 3, 2026, 14:52 SGT — Regular session
- DBS shares rose about 0.6% in afternoon trade, reversing part of Monday’s decline.
- Global markets steadied after sharp swings in gold and silver tied to shifting rate expectations.
- Investors are bracing for DBS’s full-year results on Feb 9 for clues on margins and payouts.
DBS Group Holdings Ltd shares rose 0.6% to S$59.23 on Tuesday, after slipping 0.5% in the prior session. The stock has traded between S$58.86 and S$59.38 so far on the day and is still within reach of its S$60 52-week high.
The move is modest, but it comes at a touchy moment. Investors are staring at next week’s earnings and trying to work out whether the recent burst of volatility in global markets is fading or just pausing.
Asian stocks and gold rebounded on Tuesday as trade took a calmer tone after wild swings in metals markets. “It will take a long time for them to rebuild a bull or bear position,” said Steven Leung, director of institutional sales at UOB Kay Hian. Reuters
The jitters were sparked a day earlier when commodities slid hard after Donald Trump nominated Kevin Warsh to lead the Federal Reserve, a pick some investors saw as more hawkish. “The decision by markets to sell precious metals alongside U.S. equities suggests investors view Warsh as more hawkish,” said Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia. Reuters
DBS will announce its full-year 2025 financial results before the Singapore market opens on Feb. 9, a filing showed. Traders will look for any fresh steer on dividends and capital returns, along with how management frames 2026.
Local peers moved in the same direction on Tuesday. OCBC Bank was up about 0.8%, while United Overseas Bank was little changed, according to Investing.com data.
For DBS, one big line item will be net interest margin, or NIM — the gap between what a bank earns on loans and pays on deposits, expressed as a percentage. It sounds wonky, but small moves in that spread can swing earnings.
Investors will also watch for signs that fee income is holding up and whether credit costs stay contained. Any hint of slippage in asset quality, especially in interest-rate sensitive pockets, can land badly when a stock is already priced for a steady run.
But the set-up cuts both ways. If the rates story shifts again — or if the shock in commodities bleeds back into equities — bank shares can lose support quickly, and not always in a neat way.
The next clear catalyst is Feb. 9, when DBS releases its full-year numbers before the open. After that, traders will look for follow-through across the banking sector as more results drop and the market tests whether the calm in global trade really holds.
