Top Stories
Sector Update | Banking
Singapore’s safe-haven appeal, jurisdiction diversification and wealth creation & intergenerational transfers bolster its positioning as a wealth management hub. AUM grew at a five-year CAGR of 10.1% during 2020-25. The cessation of reciprocal tariffs and hostilities in the Middle East pave the way for continued economic expansion. Our top pick is OCBC (BUY/Target: S$29.70) for its strategic shift to accelerate growth. We also like DBS (BUY/Target: S$72.50) for its attractive 2026 dividend yield of 5.0%. Maintain OVERWEIGHT.
Market Spotlight
- US stocks were mixed on Monday, with Dow Jones rising while the S&P 500 and Nasdaq fell as real estate, energy and healthcare sectors rose. There were more decliners than advancers on both the NYSE and the Nasdaq.
- The FSSTI rose 11.31 points to 5,204.01, supported by strength in SATS, Singtel and DBS. Mid-cap indices fell while small-cap indices rose with a broad market advance on S$2.86b turnover.
Technical Analysis
UMS Holdings | UMSH SP
Trading Buy Range: S$2.77-2.78
Yangzijiang Financial Holding | YZJFH SP
Trading Buy Range: S$0.225-0.230
Top Stories
Sector Update | Banking
Singapore’s safe-haven appeal, jurisdiction diversification and wealth creation & intergenerational transfers bolster its positioning as a wealth management hub. AUM grew at a five-year CAGR of 10.1% during 2020-25. The cessation of reciprocal tariffs and hostilities in the Middle East pave the way for continued economic expansion. Our top pick is OCBC (BUY/Target: S$29.70) for its strategic shift to accelerate growth. We also like DBS (BUY/Target: S$72.50) for its attractive 2026 dividend yield of 5.0%. Maintain OVERWEIGHT.
Market Spotlight
- US stocks were mixed on Monday, with Dow Jones rising while the S&P 500 and Nasdaq fell as real estate, energy and healthcare sectors rose. There were more decliners than advancers on both the NYSE and the Nasdaq.
- The FSSTI rose 11.31 points to 5,204.01, supported by strength in SATS, Singtel and DBS. Mid-cap indices fell while small-cap indices rose with a broad market advance on S$2.86b turnover.
Technical Analysis
UMS Holdings | UMSH SP
Trading Buy Range: S$2.77-2.78
Yangzijiang Financial Holding | YZJFH SP
Trading Buy Range: S$0.225-0.230
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at the following link: https://research-api.uobkayhian.com/assets/disclaimer/df64a6ea-7980-447c-ae9e-fd19b93257dc, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
