Iggy’s Journal: Wall Street’s Worst Session Since April 2025 Came After SGX Closed. OCBC, DBS and UOB Have Now All Repor…

Iggy’s Journal: Wall Street’s Worst Session Since April 2025 Came After SGX Closed. OCBC, DBS and UOB Have Now All Reported

Fri 6 Nov 2026 | Morning

The Numbers

The STI closed on Thursday 5 November at 5,296.25, up 27.62 points or 0.52%. The US session came after SGX had closed. The Dow fell 1,833.06 points or 3.44% to 51,523.06, the S&P 500 fell 334.89 or 4.36% to 7,353.73 and the Nasdaq fell 1,421.52 or 5.52% to 24,315.00. The Associated Press called it Wall Street’s worst session since April 2025 and tied it to a sell-off in AI and chip shares on fears of regulatory scrutiny and possible data center moratoriums after the Democratic midterm wins. DBS’s third-quarter profit fell 5% to S$2.81 billion as markets trading income fell 65% to S$152 million, while net interest income rose 4% to S$3.71 billion and net interest margin fell 9 basis points to 1.87%. Business Times headlines: OCBC’s third-quarter profit rose 3% to S$2.04 billion, slightly above expectations; analysts trimmed UOB’s target price as a margin squeeze and rising costs cloud the 2027 outlook; Singapore retail sales growth accelerated to 1.7% in September but missed the median forecast. $OCBC Bank(O39.SG) 

My Personal Take

Yesterday’s podcast asked how a US vote reaches Singapore. On Thursday the Assc Press tied the sell-off to one sector, AI and chips, and to fears about data centers, which is a different route from trade, interest rates or oil. SGX closed before any of it, so the STI’s 0.52% gain on Thursday sits outside the story, and today’s open is the first session after it. On the banks, the three headlines sort them by forecasts, two below and one slightly above, and the margin lines tell me more than that sorting does.

Cheers,

Iggy 🦖

Not financial advice. Iggy’s Forensic Compliance Standards apply.