DBS Group Holdings surged to a historic high in Friday morning trading (Jul 18), fueling the Straits Times Index's (STI) fifth consecutive intraday record 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 10.48 am, it had eased back down to S$46.96, still up 0.6 per cent or S$0.28, with some 1.4 million shares transacted.
The benchmark STI climbed to 4,180.95 points, building on Thursday's fourth straight record close at 4,161.43. As Singapore's largest listed company with a S$132.7 billion market cap, DBS's 6% year-to-date rally continues to drive index performance.
Investors await DBS's H1 FY2025 results announcement on August 7, following a slight 2% year-on-year dip in Q1 earnings to S$2.9 billion. The STI itself has shown remarkable strength since first breaching 4,000 points on March 28, delivering nearly 10% returns year-to-date.
This sustained rally underscores Singapore's financial sector resilience amid global market volatility, with DBS remaining the bellwether for local investor sentiment. Market watchers will closely monitor whether the STI can maintain its upward trajectory as earnings season approaches.
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