DBS Stock Tumbles as Singapore Banks Drag Down Market

DBS Group Holdings Ltd's stock slipped on September 23, 2026, as Singapore banks weighed on the Straits Times Index. The bank's shares declined by 0.1 percent to SGD 77.69 in morning trading, following a 0.6 percent gain the previous day.

The drop comes amidst broader market pressures, with the Singapore Straits Times Index falling 0.45 percent to 5,697.97 by 9:10 a.m. on September 23, 2026. DBS was among the major bank stocks contributing to the index's decline, according to Zaobao.

DBS Group Research economist Philip Wee had predicted that the Swiss National Bank would maintain its policy rate at 0 percent at its meeting on September 24, 2026, as reported by Mitrade. This assessment reflects DBS Research's macroeconomic view rather than a new earnings forecast for DBS Group.

DBS' market capitalization remains substantial at SGD 220.95 billion, indicating the bank's continued influence in the financial sector.