Singapore bank stocks drop: Investors trimming positions on lenders as global bond yields rise
Singapore bank shares fell sharply on Oct 8, pulling the STI down more than three per cent. DBS and OCBC both fell more than four per cent, while UOB lost more than five per cent by the close. The declines come after a banner year for Singapore lenders. Investors are registering concern over global inflation and rising rates affecting economic growth, which could in turn affect capital market activity. CNA speaks to Willie Tanoto, Senior Director (APAC Banks) at Fitch Ratings.
Singapore bank shares fell sharply on Oct 8, pulling the STI down more than three per cent. DBS and OCBC both fell more than four per cent, while UOB lost more than five per cent by the close. The declines come after a banner year for Singapore lenders. Investors are registering concern over global inflation and rising rates affecting economic growth, which could in turn affect capital market activity. CNA speaks to Willie Tanoto, Senior Director (APAC Banks) at Fitch Ratings.
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