Singapore stocks rise 1.1% on Thursday, lifted by DBS’ above expectation earnings

[SINGAPORE] Singapore stocks ended higher on Thursday (Apr 30), led by gains in the benchmark index’s largest constituent, DBS.

The Straits Times Index (STI) rose 1.1 per cent, or 51.72 points, to 4,912.69, recouping some of the losses seen earlier in the week.

This was as the three local banks closed higher. DBS climbed 3.4 per cent, or S$1.94, to S$58.50; while OCBC gained 1.1 per cent, or S$0.24, to S$21.90. UOB added 1 per cent, or S$0.37, at S$36.15.

Across the broader market, losers outnumbered gainers 348 to 284, after 2.1 billion securities worth S$3 billion were traded.

Among STI constituents, Wilmar International was the worst performer, falling 5.7 per cent, or S$0.22, to S$3.61, as it traded ex-dividend.

DBS was the top gainer after reporting net profit of S$2.93 billion for the three months ended Mar 31, up 1 per cent year on year and above analysts’ expectations.

The lender also raised its 2026 deposit growth outlook, citing stronger-than-expected inflows, with its earnings outlook turning slightly more positive.

For the truncated trading week – with markets closed on Friday for a public holiday – the STI is down 1.7 per cent.

Top gainers for the week were Yangzijiang Shipbuilding, up 5.4 per cent; UOL Group, up 4.6 per cent; and DFI Retail Group, up 2.7 per cent.

Top losers were Mapletree Pan-Asia Commercial Trust, down 8.5 per cent; Keppel, down 8.1 per cent; and Sats, down 7 per cent.

Elsewhere in the region, markets were mixed. Hong Kong’s Hang Seng Index fell 1.3 per cent; Japan’s Nikkei 225 declined 1.1 per cent; and South Korea’s Kospi dropped 1.4 per cent; while Malaysia’s FTSE Bursa Malaysia KLCI edged up 0.1 per cent.