Singapore shares rise as banks rebound after sell-off; STI up 0.3%
The gains follow a sharp retreat in the previous week, when the blue-chip index fell 4.1%
Published Mon, Oct 12, 2026 · 06:32 PM
[SINGAPORE] Singapore shares ended higher on Monday (Oct 12), as the Republic’s banks began to recover from the previous week’s sell-off.
The benchmark Straits Times Index (STI) gained 0.3 per cent or 13.59 points to close at 5,415.48.
All three local banks finished higher. DBS gained 0.8 per cent or S$0.58 to S$73.94; OCBC rose 0.2 per cent or S$0.06 to S$29.06; and UOB advanced 1.4 per cent or S$0.54 to S$40.50.
The gains followed a sharp retreat in the previous week, when the STI fell 4.1 per cent.
The Singapore Exchange (SGX) said in a Monday market update that financials led the decline, as higher global US Treasury yields prompted portfolio rebalancing.
Net institutional outflows totalled close to S$900 million for the week, with the three local banks accounting for around four-fifths of net selling.
The trio fell an average of 7 per cent over the five sessions, trimming their average total return for the first 41 weeks of the year to 36 per cent.
SGX also noted that rising shipping, fuel, material and labour costs heightened scrutiny of companies’ earnings resilience and margin sustainability.
The bourse operator was the top gainer on the STI, climbing 3 per cent or S$0.62 to S$21.35.
Seatrium was the STI’s worst performer, falling 2.5 per cent or S$0.05 to S$1.95.
Within the iEdge Singapore Next 50 Index, Yangzijiang Financial was the top gainer, rising 3.2 per cent or S$0.006 to S$0.195.
PC Partner was the index’s biggest loser, falling 4.9 per cent or S$0.17 to S$3.33.
Across the broader market, losers outnumbered gainers 282 to 247, with 941.1 million securities worth S$2 billion changing hands.
Investors are also looking ahead to the Monetary Authority of Singapore’s monetary policy decision on Wednesday.
The central bank is widely expected to tighten policy for a third consecutive time, although some economists expect it to hold instead.
Key regional indices were mixed on Monday.
Hong Kong’s Hang Seng Index rose 0.3 per cent and the FTSE Bursa Malaysia KLCI gained 0.6 per cent, while South Korea’s Kospi fell 3.7 per cent.
This article was written with the assistance of AI and reviewed by a reporter
