The three banks, which contribute to about half of the STI, have hit highs multiple times in the past year
SINGAPORE’s Straits Times Index (STI) has broken through to a new record high on Monday (Feb 10).
The index traded as high as 3,912.38 just after the open. Its last record was 3,906.16 on Oct 10, 2007. DBS hit a fresh record on Monday, crossing S$46 for the first time. UOB traded as high as S$38 – it last hit a high of S$37.8 in early January. OCBC was also at a new high of S$17.65.
The performance continues from last year’s standout pace, as the benchmark index gained nearly 17 per cent returns, placing the Republic among the top performers in the region.
The three banks, which contribute to approximately half of the STI, have hit highs multiple times in the past year.
Analysts believe that they are set to post earnings growth in 2025, given higher-for-longer rates a Trump administration. They also view the bank sector as a beneficiary of global market uncertainties and rising geopolitical tensions.
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