Singapore’s Straits Times Index (SGX: ^STI) climbed to new highs last Monday (6 July 2026), and proceeded to set new record highs for five consecutive days. As of Friday, the index has broken past the 5,400 mark, and is a whisker away from 5,500. Along with the rise, shares of the banking trio of DBS Group (SGX: D05), Oversea-Chinese Banking Corporation (SGX: O39), and United Overseas Bank (SGX: U11) have also reached their own highs as the index marches upward. Apparently, the rally is not done yet. Analysts are convinced that there is still room to run for Singapore’s banks, with some even revising their target prices upward for each bank. We’ll find out by the end of the year whether they are right. After all, stock prices are easy to check. But what’s easy can also be misleading. In fact, if you are not careful, a rising stock price may be the most convincing liar in the room....