Hot stock: DBS crosses S$40 for first time to hit new high on strong results, S$3 billion share buyback plan

SHARES of DBS rose to a historic level after it announced the establishment of a S$3 billion share buyback programme in tandem with its third-quarter results, which saw net profit crossed the S$3 billion mark for the first time.

As at 11.49 am, the counter leapt as much as 6.9 per cent or S$2.72 to reach an intraday and all-time high of S$41.87.

It later eased to pause at S$41.69 as at the midday break, up 6.5 per cent or S$2.54, and was the top-traded counter by value of the morning with 10.1 million securities worth S$413.1 million transacted.