UOB hits a fresh high, with Singapore’s STI reaching yet another record

SHARES of UOB rose to a new high on Wednesday (Feb 19) morning, after it announced the establishment of a S$3 billion capital distribution package in tandem with its fourth-quarter results.

At the open, the counter edged up 1.3 per cent or S$0.50 to an all-time high of S$39.15.

Shares of UOB’s peers rose as well shortly after the market opened. As at 9.30 am, DBS was up 0.4 per cent or S$0.20 to S$46, and OCBC gained 0.6 per cent or S$0.10 to S$17.86.

As banks gained in the morning, Singapore’s Straits Times Index (STI) also broke through to a new record, trading as high as 3,943.23 just after the open.

Before the market opened on Wednesday, UOB posted a net profit of S$1.52 billion for Q4 ended December, up 8.6 per cent from S$1.4 billion in the previous corresponding period.