2022 may have just begun, but we are already witnessing a mini bull-run of sorts.
Singapore’s blue-chip banks have been heading higher since the beginning of the year, propelled by optimism that they will ride the economic recovery.
DBS Group (SGX: D05), the largest of the three, has risen by 7.4% to record a new all-time high of S$35.07.
Meanwhile, United Overseas Bank Ltd (SGX: U11), or UOB, has jumped by 8.4% year to date to hit a 52-week high of S$29.16.
OCBC Ltd (SGX: O39) climbed by around 6.1% to S$12.10.
The rise in the share price of this trio of banks has lifted the Straits Times Index (SGX: ^STI) by 3.3% despite news on the spread of the Omicron variant.
All three banks are set to release their fiscal 2021 (FY2021) earnings by early February.
Can the banks continue their run and what should investors watch out for?...