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Shares of Singapore's top banks jump ahead of third-quarter earnings
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cnbc.comIn this article
SINGAPORE — Shares of Singapore's top banks jumped in the lead-up to their third-quarter earnings this week as the global economic recovery gains momentum.
OCBC and UOB are scheduled to kick off third-quarter earnings season for Singapore-listed banks on Wednesday, while DBS is expected to report on Friday.
DBS Group Holdings, the largest of the three Singapore-listed banks, hit a fresh 52-week high on Thursday. The stock has climbed 25.9% this year as of Friday.
The other two banks, Oversea-Chinese Banking Corp and United Overseas Bank, have also inched closer to their 52-week highs. OCBC has gained around 17.3% this year, while UOB has risen 18.4%.
All three banks have beaten the benchmark Straits Times Index, which rose
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