Singapore bank shares chalk up strong gains in H1, but more rotations ahead

Singapore

SHARES of the three Singapore banks gained strongly in the first half of the year, in line with its global peers. But their stocks will see more volatile trading in the second half, as investors make frequent rotations in and out of the sector, a report said.

A market update by the Singapore Exchange (SGX) in early July showed that the local banking trio of DBS, OCBC and UOB averaged a 19 per cent total return in the first half of this year, in line with the median 19.8 per cent return for the 200 largest listed global banks by market value.