Singapore banks surge to record highs on Tuesday

Singapore banks surge to record highs on Tuesday

July 2, 2024 / Riah Marton /


The strong performances come ahead of the impending Federal Open Market Committee’s meeting

THE share prices of the three local banks traded at record highs on Tuesday (Jul 2) after the midday break, with OCBC and UOB breaching all-time records after an initially mixed showing at the opening bell.

For the first time, Singapore’s largest lender DBS surpassed the S$37 per share mark to reach S$37.08 as at 2.06 pm, up S$0.96 or 2.7 per cent. Shares of OCBC leapt S$0.27 or 1.9 per cent to hit a historical peak of S$14.77 as at 2.08 pm.

UOB gained as much as S$0.33 or 1.1 per cent to S$31.63 as at 2.24 pm, marking the counter’s highest levels since April 2022.

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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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