---
title: "SG Morning Brief｜DBS, OCBC Lift STI as Nvidia Slumps After Hours"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/305226472.md"
description: "Singapore's STI rose for a second day as DBS, OCBC and UOB all gained. Wall Street's AI-led rebound was punctured after hours as Nvidia slid on reports its board may oust CEO Jensen Huang. US futures point lower; Cisco and Applied Materials report tonight."
datetime: "2026-11-12T00:07:48.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/305226472.md)
  - [en](https://longbridge.com/en/news/305226472.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/305226472.md)
generator: "portal-rs"
---

# SG Morning Brief｜DBS, OCBC Lift STI as Nvidia Slumps After Hours

**STI:** The Straits Times Index closed at 5,289.66 on Wednesday, up 0.59% — its second straight gain after Tuesday's +1.53% rebound.

**Local:** Banks led: $DBS (D05.SG)$ +0.85% to S$70.97, $OCBC (O39.SG)$ +0.77% to S$28.82, $UOB (U11.SG)$ +0.54% to S$37.58.

**US:** The S&P 500 rose 1.31% and the Nasdaq 1.60% after CoreWeave's blowout quarter, but Nvidia slid as much as 10% after hours on a reported board move to oust CEO Jensen Huang.

**Today:** Cisco and Applied Materials report after the US close (~5:30am SGT Friday); weekly jobless claims land at 9:30pm SGT.

## Singapore Open

The STI extended its rebound on Wednesday, closing up 0.59% at 5,289.66. The banks did the heavy lifting: $DBS (D05.SG)$ added 0.85% to S$70.97, $OCBC (O39.SG)$ rose 0.77% to S$28.82 and $UOB (U11.SG)$ gained 0.54% to S$37.58. The steadier tone follows a bruising early-November stretch in which the three lenders were sold off after DBS and UOB reported third-quarter net interest margins below expectations, even as OCBC notched a record S$6.24 billion nine-month profit.

Elsewhere, $Singtel (Z74.SG)$ climbed 1.22% to S$4.14 and $Singapore Airlines (C6L.SG)$ edged up 0.42% to S$7.17. After the close, SIA posted record half-year revenue of S$11.3 billion (up 16.8%) and declared a 7-cent interim dividend, though half-year net profit fell 43.9% to S$134 million on jet fuel costs.

## Singapore Macro

Local fundamentals remain supportive. MAS left its S$NEER policy band unchanged in October after tightening in April and July, pointing to Q3 GDP growth of 5.4% year-on-year — a touch slower than Q2's 6.2% but still well above trend, led by AI-related electronics and precision engineering. MAS expects AI momentum to moderate only in the second half of 2027.

The read-through to SGX: Tuesday's hot US CPI has markets pricing a December Fed hike, propping up the dollar and pressuring Singapore's imported-inflation pulse. That is a modest tailwind for bank net interest margins — underpinning the DBS/OCBC/UOB rebound — but a headwind for S-REITs, where higher-for-longer funding costs dent distributions.

## US Overnight

Wall Street snapped its losing streak on Wednesday: the S&P 500 added 1.31% to 7,619.38, the Nasdaq rose 1.60% to 25,466.19 and the Dow gained 0.49% to 52,486.49. AI names led the rebound, though the Treasury market was closed for Veterans Day, leaving the bond complex to keep digesting Tuesday's hot CPI.

## Key Movers

**$CoreWeave (CRWV.US)$ +24%** — The AI cloud provider surged after Q3 revenue rose 168% to $3.66 billion and adjusted EBITDA hit $2.26 billion (a 62% margin), and it lifted full-year revenue guidance to $13.0-13.3 billion. The print eased fears that a slower data-centre buildout would crush GPU-compute demand and lifted the broader semis complex.

**$Advanced Micro Devices (AMD.US)$ +7%** — AMD rallied with the AI trade, recouping part of the steep losses that followed last week's chip sell-off.

**$Microsoft (MSFT.US)$ -2.3%** — The stock bucked the rally on a possible US ban on Chinese-made optical modules for AI data centres and rising competition from Anthropic's Claude.

**After hours, $Nvidia (NVDA.US)$ slid as much as 10%** — The Wall Street Journal reported the board is preparing to oust CEO Jensen Huang after two extramarital affairs, including one with a suspected Chinese spy; Nvidia has hired law firm Wachtell Lipton for an independent review. The stock, which closed the regular session up 2.87% at $173.73, was last near $161, down about 7%, and still moving.

## Asia Pre-Market

US equity futures are lower early Thursday — S&P 500 futures off about 0.4% and Nasdaq 100 futures about 0.8% — as Nvidia's after-hours drop rippled through the tape. WTI crude firmed to roughly $86.4 a barrel, while spot gold slipped below $4,000 to about $3,994 an ounce as hawkish Fed talk lifted the dollar. Bitcoin was little changed near $74,000.

For the SGX open, a lower Wall Street handover could cap the STI's two-day rebound, with local semis-linked names most exposed to the AI tape.

## Today's US Earnings and Economic Calendar

Cisco and Applied Materials headline tonight's slate, both reporting after the US close (about 5:30am SGT Friday).

| Company                     | Timing                        | Consensus EPS |
| --------------------------- | ----------------------------- | ------------- |
| Nebius Group (NBIS.US)      | Pre-market                    | -$0.72        |
| Cisco (CSCO.US)             | Post-market (~5:30am SGT Fri) | $1.32         |
| Applied Materials (AMAT.US) | Post-market (~5:30am SGT Fri) | $4.06         |

| SGT         | ET      | Event                         | Consensus |
| ----------- | ------- | ----------------------------- | --------- |
| 9:30pm Thu  | 8:30am  | Weekly Jobless Claims (Nov 7) | \~195K    |
| 11:00pm Thu | 10:00am | Existing Home Sales (Oct)     | —         |
| 9:30pm Fri  | 8:30am  | PPI (Oct)                     | —         |

**Earnings Spotlight: Cisco.** $Cisco (CSCO.US)$ reports fiscal Q1 results after Thursday's close. Consensus looks for roughly $1.32 a share — up about a third year-on-year — on about $18.1 billion in revenue, with AI networking orders and a fast-rising inventory build the key watch items. $Applied Materials (AMAT.US)$ reports alongside, with consensus at $4.06 a share on $10.3 billion in revenue — a key read on AI-fuelled chip-equipment spending. Friday's October PPI follows as the next inflation check.

## One More Thing

The Nvidia after-hours move is a reminder to separate two very different forces: the AI demand story — intact in CoreWeave, AMD and Applied Materials — and Nvidia's idiosyncratic governance risk. When the two collide in one overnight tape, watch whether money rotates within the AI complex or exits outright; that distinction tells you whether this is a healthy shakeout or the start of something deeper.

*Sources: MAS Monetary Policy Statement (Oct 2026); The Straits Times / Business Times; MarketWatch.*

*This briefing is compiled with AI assistance from market data and wire reports, and reviewed by the Longbridge editorial team before publication.*

*This briefing is for informational purposes only and does not constitute investment advice.*

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**