Meanwhile, DBS’s share price has a lower trendline support of $43.80 and could head toward the $42.48 level for a retest, says market strategist Yeap Jun Rong. Photo: Bloomberg
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Singapore’s three banks will begin reporting their results for FY2024 ended Dec 31, 2024 next week, with DBS Group Holdings going first on Feb 10.
Over the past year, the banks' shares have outperformed the broader Straits Times Index (STI), which returned 22.7% as of Jan 31. Among the banking trio, DBS led with a 54.8% increase, followed by Oversea-Chinese Banking Corporation (OCBC) at 35.9% and United Overseas Bank (SGX:U11) (UOB) at 32.9%.
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) (UOB) at 32.9%.
