DBS shares rally to a new record as STI clocks yet another high
[SINGAPORE] DBS shares hit a new high on Friday (Jul 18) morning, bringing the Straits Times Index (STI) to a fifth consecutive record in intraday trade this week.
As at 9.04 am, DBS hit S$47.05, 0.8 per cent or S$0.37 above its Thursday closing price of S$46.68, with 620,800 shares changing hands. By 11.31 am, it had eased to S$46.91, still up 0.5 per cent or S$0.23, with some 1.6 million shares transacted.
The STI rose to 4,180.95 points, extending its winning streak. On Thursday, it reached a high for a fourth consecutive trading day, hitting an intraday peak of 4,163.45 before closing at 4,161.43.
With a market capitalisation of S$132.7 billion, DBS is the largest constituent of the STI. Year to date, the lender has gained more than 6 per cent.
DBS will post its earnings results for the first half of FY2025 on Aug 7. In May, its Q1 earnings fell marginally to S$2.9 billion, 2 per cent lower than the S$2.95 billion clocked in the year-ago period.
The STI crossed the 4,000 threshold for the first time on Mar 28. It has advanced by nearly 10 per cent in the year to date.
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Broader market
The other Singapore banks were trading higher on Friday. As at 11.31 am, OCBC was up 1.1 per cent or S$0.18 at S$17.26, with 2.8 million shares traded. UOB climbed 0.1 per cent or S$0.04 to S$36.82, with 889,800 shares transacted.
Year to date, OCBC has gained 2.3 per cent and UOB, 1.2 per cent.
Other STI constituents, such as offshore and marine specialist Seatrium and Chinese vesselmaker Yangzijiang Shipbuilding, were some of the most heavily traded stocks by volume.
Seatrium was up 3.1 per cent or S$0.07 at S$2.32 with 14.9 million shares changing hands, and Yangzijiang Shipbuilding rose 3 per cent or S$0.07 to S$2.42, with 15.7 million shares traded.
