Singapore stocks end higher as DBS, OCBC hit fresh highs; STI up 0.8%

Published Wed, Jun 3, 2026 · 06:45 PM

[SINGAPORE] Singapore stocks ended higher on Wednesday (Jun 3), led by gains across the three local banks.

The benchmark Straits Times Index (STI) rose 0.8 per cent, or 40.82 points, to close at 5,138.24.

DBS gained 0.6 per cent or S$0.38 to S$65.05; OCBC climbed 1.9 per cent or S$0.45 to S$24.53; and UOB advanced 1 per cent or S$0.40 to S$38.80.

For DBS and OCBC, Wednesday’s close also marked fresh record highs, extending the highs set in the previous session.

Singapore Airlines was the top gainer on the blue-chip index, rising 3.7 per cent or S$0.25 to S$7.04.

Hongkong Land was the worst performer among STI constituents, falling 1.2 per cent or US$0.09 to US$7.45.

Across the broader market, losers outnumbered gainers 345 to 259, after 1.6 billion securities worth S$2.5 billion changed hands.

Meanwhile, Food Empire fell 16.9 per cent to S$2.51 after trading ex-bonus on Wednesday, following its one-for-five bonus issue.

In a report issued on the same day, RHB analyst Alfie Yeo maintained a “buy” rating on Food Empire, with a revised target price of S$3.87, or S$3.36 post-bonus issue, partly on markedly lower coffee prices in the year to date.

Key regional indices were mixed. The FTSE Bursa Malaysia KLCI fell 0.6 per cent and Hong Kong’s Hang Seng Index dropped 1.6 per cent, while Japan’s Nikkei 225 gained 2.5 per cent.

This article has been written with the assistance of AI and reviewed by a reporter