STI ETF
Your STI fund is mostly a bet on three banks
What it means for you
DBS, OCBC and UOB make up roughly 43–45% of the index. When the banks have a bad week, your "diversified" fund has a bad week too. This was results week for all three.
Bank weight of roughly 43–45% means this week's earnings dispersion drove most of the index move. Index investors carry concentrated NIM exposure to SORA and US rates.
DBSOCBCUOB
Bank results week: one beat, two misses
| Bank | Q3 2026 result | Vs forecasts | The one thing to know |
|---|
| OCBC | S$2.04B, +3% | Beat | Only bank to raise its 2026 outlook. Lower bad-loan provisions did much of the work. |
| DBS | Missed ~5% | Miss | Trading income fell 65% as bond yields rose. Its margin is still the highest of the three. |
| UOB | S$1.25B vs S$1.35B est. | Miss | Cut its margin outlook to below 1.75%. Shares fell over 5% to S$38.15 on Wednesday. |
What it means for you
Banks earn money on the gap between what they charge borrowers and what they pay savers. That gap is shrinking at all three. Bad loans were not the problem, and all three report healthy capital.
NIM compressed 9 bp (DBS), 14 bp (UOB) and 18 bp (OCBC) as SORA fell and deposit costs stayed sticky. Fees and loan growth are filling the gap. NPL ratios ranged 0.8–1.5%, with CET1 at 14.6–15.9%.
Singtel
Hold old Singtel discount shares? Two dates matter this month
What it means for you
If you (or your parents) got Singtel Special Discounted Shares back in 1993, they are moving out of the CPF scheme. The deadline to sell through the scheme is 18 November. On 21 November, shares move automatically into holders' own CDP accounts. You don't need to do anything to keep them.
About 615,000 retail holders are affected by the SDS transfer from CPF trusteeship to individual CDP accounts. Sell window closes 18 Nov, and the transfer is on 21 Nov. Over 60% of those who sold early had no CDP account, which points to a large legacy, inactive holder base.
Yangzijiang
Yangzijiang Shipbuilding fell 6.5%
What it means for you
It was one of the biggest losers on the index on Friday, a day when more than twice as many stocks fell as rose. Check whether the company itself announced anything before reading too much into one day.
Among the steepest STI decliners on a broad risk-off day (breadth 202/472). SATS led STI gainers, +0.5% to S$3.73. Production version checks SGXNet for same-day announcements before attributing a move.
Nothing on your watchlist moved on its own today. The market summary above still applies to you.