Singapore stock market rallies as DBS, OCBC and UOB hit record highs

Singapore’s three major banks—DBS, OCBC and UOB—have surged to all‑time highs, bolstering investor optimism in the local market. The rally has pushed the Straits Times Index up roughly 3.6% over four consecutive sessions, ending near the 5,340‑point level, with the index closing at 5,342.24 after a jump of 82.43 points on the latest session.

The gains were led by strong performances in financial, property and industrial stocks, while energy shares rose on higher crude prices prompted by renewed Middle‑East tensions. At the same time, U.S. markets slipped, with the Dow, Nasdaq and S&P 500 all posting losses, and semiconductor stocks retreated sharply.

Analysts note that the high valuations of the banks suggest a disciplined assessment of risk and fundamentals rather than speculative buying, and warn that the rally could lose momentum if broader market pressures persist.