Singapore, Feb 3, 2026, 15:04 SGT — Regular session
- UOB shares last changed hands at S$38.42, up 0.05%, remaining under their late-January high.
- The stock’s subdued action follows recent volatility in metals and other risk assets, as investors take a breather.
- Singapore banks kick off their earnings season next week, with UOB’s results expected later this month.
Shares of United Overseas Bank edged up 0.05% to S$38.42 in Tuesday afternoon trading, following a 0.34% gain the day before. The stock has fluctuated between S$38.21 and S$38.56 so far today, remaining roughly 3% shy of its 52-week peak of S$39.50 reached on Jan 23. (Investing)
The modest shift reflected a cautious mood across markets, following last week’s wild swings in precious metals that rippled into other assets. “It will take a long time for them to rebuild a bull or bear position…so they are staying away from the market,” said Steven Leung, director of institutional sales at UOB Kay Hian in Hong Kong. (Reuters)
UOB investors have their sights set on earnings next. According to the company’s event calendar, the bank will release its full-year and fourth-quarter results on Feb 24. (United Overseas Bank)
DBS Group Holdings revealed in a Singapore Exchange filing that it plans to release full-year results ahead of trading on Feb 9. OCBC, meanwhile, is set to report its full-year numbers on Feb 25.
On Tuesday, DBS climbed roughly 0.6% while OCBC rose close to 0.9%, with UOB trailing behind its bigger rivals for the session. (Investing)
Investors will zero in on net interest margin — the gap between a bank’s loan earnings and deposit costs — alongside fee income and credit expenses. Back in November, UOB forecast a 2026 net interest margin of 1.75%–1.80%, a notch lower than its 2025 estimate, and flagged total credit costs at 25–30 basis points. The bank had also set aside S$615 million in general allowances then. Deputy Chairman and CEO Wee Ee Cheong confirmed dividend plans remain unchanged. (Reuters)
However, the situation works both ways. Should market rates drop more quickly than anticipated, banks might face margin squeezes before deposit rates catch up. An unexpected rise in bad loans would weigh further, pushing provisions higher. On top of that, bank shares remain vulnerable during any widespread risk-off selloff.
Monday’s selloff served as a stark reminder. Commodities dipped, with gold and silver falling further after CME Group announced higher margin requirements—the cash traders must put up to hold futures—following Friday’s steep drop sparked by Donald Trump’s pick of Kevin Warsh to replace the Federal Reserve chair. (Reuters)
UOB remains confined to a narrow range, a far cry from the surge that sent it to a new peak in late January. Investors are eyeing next week’s bank earnings for signals on loan growth, funding strains, and shifts in asset quality commentary.
