{
  "id": 12804144,
  "title": "Shares of DBS, OCBC and UOB extend losses",
  "url": "https://urgent.news/2026/10/08/shares-of-dbs-ocbc-and-uob-extend-losses",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T06:20:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/shares-of-dbs-ocbc-and-uob-extend-losses"
  },
  "original_language": "en",
  "account": "Shares of Singapore's major banks DBS, OCBC, and UOB continued their downward trend on October 8, following a decline the previous day. OCBC shares dropped 4.29% to $29, with over 14.9 million shares traded, while DBS fell 4.48% to $74.02 and UOB declined 4.92% to $40.35, with 4.14 million shares changing hands. Charu Chanana, an investment strategist, suggested that the ongoing weakness in Singapore bank shares could be due to profit-taking, concerns over earnings expectations, and increased volatility in global bond markets. Citi downgraded OCBC's stock to \"sell\" on October 7, citing weaker-than-expected third-quarter 2026 earnings expectations and questioning if Singapore-dollar interest rates are overstated. Higher global bond yields could also put pressure on the banks by potentially reducing credit demand, affecting bond portfolios, and lowering investor appetite for dividend stocks. Despite these concerns, the banks are expected to maintain strong capital positions and dividend support. In the short term, further volatility is possible as investors reassess earnings expectations and valuations, while a sustained recovery would likely depend on resilient net interest margins and strong recurring fee income. Higher Singapore-dollar interest rates may not necessarily benefit banks, as rising funding costs could offset higher returns on loans and other assets. The upcoming earnings season may provide more clarity on whether these concerns are reflected in the banks' financial results.",
  "summary": "All three lenders down more than 4% by midday.",
  "key_points": [
    "DBS, OCBC, and UOB shares continue decline on October 8",
    "OCBC drops 4.29% to $29, DBS falls 4.48% to $74.02",
    "Analyst cites profit-taking, earnings concerns, global bond volatility"
  ],
  "editors_take": "The decline in shares of DBS, OCBC, and UOB reflects ongoing investor concerns over earnings expectations, global bond market volatility, and potential impacts on credit demand and dividend appeal.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}