Singapore, February 4, 2026, 15:11 SGT — Regular session
Shares of United Overseas Bank Ltd SGX:U11 rose 0.13% to S$38.48 by 2:46 p.m. in Singapore, up 5 cents on the day. About 796,000 shares had traded, with the stock opening at S$38.18 after closing at S$38.43 on Tuesday.
The muted move comes a session after Singapore stocks notched another record close, with banks again in the mix. The Straits Times Index ended Tuesday up 1.1% at 4,944.09, while DBS rose 0.3% to S$59.05, OCBC gained 0.9% to S$21.28 and UOB added 0.1% to S$38.43.
That matters now because the next leg for Singapore bank shares usually comes from guidance, not momentum. Investors are bracing for management tone on net interest margin — the spread between what a bank earns on loans and pays for funding — and any read-through on credit demand.
Outside the banks, Singtel remained a market talking point after it agreed to buy data centre firm ST Telemedia Global Data Centres with KKR and Temasek. “It cements Singtel as one of the largest data centre operators in Asia,” Phillip Securities’ head of research Paul Chew said. Reuters
SGX cash equities trade through an opening routine before 09:00, then a morning session to 12:00 and an afternoon session from 13:00 to 17:00, followed by a closing routine. Wednesday’s UOB move came during the afternoon trading window.
UOB has stayed within a tight band, with the day’s range at S$38.18 to S$38.49, leaving it within reach of its 52-week high of S$39.50. Stock Analysis put the bank’s market value around S$63.5 billion.
But there is a downside case: margins may not hold up if funding costs stay sticky while loan yields ease. In its last quarterly update, UOB said it expects 2026 net interest margin of 1.75% to 1.80%, below the projected 1.85% to 1.90% for 2025, after heavier credit allowances hit profit; CEO Wee Ee Cheong said it had “proactively set aside general allowances to significantly enhance provision coverage”. Reuters
The next hard catalyst is UOB’s FY25/4Q25 results on Feb. 24, according to its investor calendar. Traders will be watching for any shift in dividend messaging and for clues on margins and asset quality into 2026.
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