Iggy's Journal: Wall Street Rebounds While SGX Was Shut. Business Times Asks Whether the Bank Sell-Off Was Numbers or De…
Iggy's Journal: Wall Street Rebounds While SGX Was Shut. Business Times Asks Whether the Bank Sell-Off Was Numbers or De-Rating
Tue 10 Nov 2026 | Morning
The Numbers
SGX did not trade on Monday 9 November, so the STI's last close is Friday's 5,179.17, down 117.08 points or 2.21% from Thursday's 5,296.25. The US did trade on Monday. The Dow rose 1,104.02 points or 2.15% to 52,389.75, the S&P 500 rose 173.08 or 2.35% to 7,549.94 and the Nasdaq rose 673.71 or 2.74% to 25,253.14. The Associated Press tied the rally to falling crude oil prices easing inflation concerns, which let stocks recover most of last week's losses. Business Times headlines: Singapore banks see strong AI financing demand but stay alert to debt risks; a Mark to Market column asks whether the big sell-off in DBS, OCBC and UOB came from their third-quarter numbers or a broader de-rating; Nvidia and CEO Huang were sued over disclosures related to a suspected Chinese spy. Asia Asset Management reports SGX RegCo is now the single review point for Mainboard IPO prospectuses, with review time cut to six to eight weeks.
My Personal Take
Singapore has not traded since Friday, so today's open is the first SGX session to meet Monday's US rebound. The Business Times column asks whether the bank sell-off came from the numbers or a broader de-rating, and I think it is the right question for any fall: how much belongs to the company and how much to the market? I am not putting a verdict on the bank shares in this entry.
Cheers,
Iggy 🦖
Not financial advice. Iggy's Forensic Compliance Standards apply.
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