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Singapore banks lose over S$37 billion in market value as tariff sell-off continues

Slower growth and potential rate cuts by US Fed could weigh on bank margins and earnings

Renald Yeo
Published Mon, Apr 7, 2025 · 01:18 PM
    • Monday's slide in share prices comes amid a broader sell-off in local banking stocks.
    • Monday's slide in share prices comes amid a broader sell-off in local banking stocks. PHOTO: TAY CHU YI, BT

    [SINGAPORE] Shares of Singapore’s three local banks continued to slide on Monday (Apr 7), leading a broader market sell-off triggered by concerns over US tariffs.

    At market close, DBS had dropped 9.3 per cent to S$39.28; OCBC declined 6.9 per cent to S$15.47; and UOB slid 6.3 per cent to S$33.23.

    The benchmark Straits Times Index – which is heavily weighted by the three banks – fell 7.5 per cent to 3,540.50, just days after it breached the 4,000-point milestone on Mar 28.

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