UOB hits a fresh high, with Singapore’s STI reaching yet another record

SHARES of UOB rose to a new high on Wednesday (Feb 19) morning, after it announced the establishment of a S$3 billion capital distribution package in tandem with its fourth-quarter results.

At the open, the counter edged up 1.3 per cent or S$0.50 to an all-time high of S$39.15.

Shares of UOB’s peers rose as well shortly after the market opened, with DBS rising 0.4 per cent or S$0.20 to S$46, and OCBC gaining 0.6 per cent or S$0.10 to S$17.86.

As banks gained in the morning, the Singapore’s Straits Times Index also broke through to a new record. It traded as high as 3,943.23 just after the open.