United Overseas Bank (UOB)

🏦 DBS & UOB: More Resilient Today

While OCBC dropped almost 5%, DBS fell only around 1% and UOB about 1.4%. This tells me today’s selling was much more concentrated in OCBC rather than across the whole Singapore banking sector.

📊 DBS: I would watch its key support and RSI. If RSI stabilises while selling volume falls, it could signal that the correction is slowing.

📈 UOB: UOB is showing similar relative strength. I would wait for support to hold before considering an entry.

🐶 My takeaway: I wouldn’t chase the rebound. I want support + RSI + volume confirmation before entering.@Captain's Watch

DBS, UOB and OCBC, today OCBC dropped 80 cents. but still above $30 dollar mark. Let us wait and see until 5pm closing at what price

Iggy's Journal: OCBC Falls 4.2% After Citi Cuts It to Sell

Wed 07 Oct 2026 | Morning

The Numbers

Intraday prices from Longbridge in morning trade: OCBC S$30.84, down 4.22%. DBS S$77.51, down 1.34%. UOB S$42.92, down 1.83%. The STI is at 5,637.05, down 1.13%. OCBC's volume is about 6.75 times its normal level, so this is heavier selling than an ordinary down day.

The Edge Singapore reports that Citi analyst Tan Yong Hong downgraded OCBC to Sell on 6 Oct with a target price of S$27.50. That target is 2.0 times OCBC's book value of S$13.73 at 30 Jun. Citi forecasts 1.8 times price to book for 2027, on a long-term return on equity of 13 percent. Citi expects third-quarter 2026 earnings to be flat year on year and softer than the Street, with a CET1 ratio, the main measure of a bank's capital strength, of 13.3 percent, down 70 basis points. Citi also says OCBC's price-to-earnings multiple has re-rated 46 percent this year, and that its dividend yield sits only 70 basis points above the Singapore 10-year government bond yield.

By my arithmetic, S$27.50 is about 11 percent below this morning's price, and OCBC trades at about 2.25 times book value.

I have found no news specific to DBS or UOB today. Their falls may be sympathy selling after OCBC, but I have not confirmed that.

This is one broker's view. The same analyst put Sell ratings on DBS, OCBC and UOB in August 2024, and all three have traded far higher since. That does not make this call wrong. It does mean one note is not a verdict. OCBC usually reports third-quarter results in early November, and I have not confirmed the date. Those results will show earnings and CET1, so Citi's call can be checked against the numbers.

(more in comments) 

$OCBC Bank(O39.SG)

looks like we need to look over this and next week closely also see how banks

results comes up and fed direction lets see ans go in as a step

Great post

$DBS(D05.SG)$UOB(U11.SG)$OCBC Bank(O39.SG)

POST for 7/10/26

📌 As the saying goes I used only One stone kills all birds 🕊️😎

For banks stock this is extra ordinary different now:

1️⃣ I really like the idea of buying at smaller lots which mean to me, may be, fast in and fast out or fast in and last out! I like to be in full control !

2️⃣ Of course, when the prices soften further I am prepared to add more to my bank stocks portfolio.

3️⃣ I only can say the global market is always packed with uncertainty, so does not mean we buy big, return will be big in definite even is bank stocks also have their own volatility. Just that always good to spread our eggs in different baskets.

IF not for smaller lots I also won’t buy all of them to be honest also hard to compare between DBS vs UOB.

So happy since I cannot make up my mind since now, by now I must well buy all of them hehe 😎😅

OCBC Securities Removes Its Minimum Commission on Online SGX Trades From 5 October

Tue 6 Oct 2026 | SGX Daily Pulse Podcast

The Numbers

OCBC Securities removed its minimum commission on online SGX trades from 5 October. Its managing director cited one transaction falling from S$25 to about S$2. The firm says roughly a quarter of its clients' Singapore holdings are odd lots, often built up through scrip dividend schemes. The change is aimed at investors adding S$500 to S$1,000 at a time, while trades of S$50,000 to S$100,000 will see little difference. Today's podcast explains why a fixed minimum falls hardest on small trades. SGX also cut board lots for 11 stocks, including DBS, OCBC and UOB, on the same day. $OCBC Bank(O39.SG) 

My Personal Take

On Monday I wrote that the board lot cut reduces the cash for one lot to a tenth and moves no yield. This is the other cost of a small trade, and it changed on the same day. It took me a while to see that both changes mostly affect people with small amounts and leftover shares. I only have OCBC Securities' own figures, so I do not know how much of the saving other brokers match. Another broker's rate table would tell me whether this is one firm's move or a wider one. Let's see..... 🦖

📺 YouTube: https://youtu.be/RFO4aGYdPdc

📩 Substack: https://investingiguana.com/p/why-a-minimum-commission-hits-small

I am still bullish on $SpaceX(SPCX.US) and the long-term combination of space, Starlink and AI infrastructure, but after a 58% rebound from the August low, I would not chase aggressively here. I would rather wait for a pullback or scale in gradually. For me, the thesis has not changed, but valuation and entry price matter, especially when the 10- and 30-year yields are pushing higher.

The Nasdaq and Nvidia making new highs are encouraging, but the rising long-term yields are a reminder that the market is not risk-free. I am also watching Singapore closely, especially DayOne’s Nasdaq IPO and the new 10-share board lots for DBS, OCBC, UOB and SGX. My approach remains the same: stay invested, but keep some patience and cash ready for better opportunities instead of chasing every breakout.

Our local banks have been rather stagnant, closing slightly higher by the end of the day. Turnover has been slightly higher since the start of the reduced board lot size, which is great as it is now more affordable for investors to DCA. However, I also do think that this would allow traders more opportunities to take partial profits here and then so the banks' share prices may not increase as quickly as seen previously.

hmmm, seems like the lowering of the board lot size diminished the interest in UOB, with it falling while DBS and OCBC climbed.