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Singapore Banks’ Share Prices Are Hitting All-Time Highs: Can Their Momentum Continue?
By The Smart Investor  •  July 9, 2024
Singapore banks have been on a roll the past week. The trio of lenders saw their share prices surge higher to hit new all-time highs, helping to push the bellwether Straits Times Index (SGX: ^STI) to a one-year high of 3,439.88. As of 4 July, DBS Group (SGX: D05) is the best performer of the three with a 25.6% year-to-date (YTD) gain after hitting its intra-day all-time high of S$38.17. OCBC Ltd (SGX: O39) came in second with a 17.3% YTD gain after hitting an all-time high of S$15.15. United Overseas Bank (SGX: U11), or UOB, logged a 14.3% YTD gain and set a new all-time high of S$32.64. Investors may be curious to know if the banks can continue their stellar performance. Are there any catalysts or business developments that can take these lenders to another level? An uncertain interest rate policy It’s a well-documented fact that banks thrive in a higher interest-rate environment. As interest rates head upward,...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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