The Singapore Straits Times Index (STI.SG) gave up its morning gains this morning after consecutive declines in the previous week's continuous trading, currently just a few points away from Monday's closing price of 5,415. Among them, DBS Group Holdings (D05.SG) rose by approximately +0.7%, UOB (U11.SG) rose by +0.8%, but OCBC Bank (O39.SG) is currently down by about -0.2%. The rebound only lasted for half an hour because Bank of America will release its earnings report tonight.
What was unexpected is that although the Singapore stock market performed outstandingly in the first half of this year driven by economic growth, the market is simply too small. Risk fluctuations in bank stocks actually drove the broader index to nearly plummet off a cliff.
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