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Read more at The Business Times."/><meta data-rh="true" property="og:image" content="https://cassette.sphdigital.com.sg/image/businesstimes/fcfd8c36a543a610454ee8490766c12371525983ffcede983a405d786046e26d"/><meta data-rh="true" property="og:image:width" content="1200"/><meta data-rh="true" property="og:image:height" content="630"/><meta data-rh="true" property="og:image:alt" content="The earnings resilience coupled with the high interest rate environment compel investors to pile into Singapore banks."/><meta data-rh="true" property="fb:admins" content="100008016031098"/><meta data-rh="true" property="fb:pages" content="288031731262011"/><meta data-rh="true" property="fb:app_id" content="328386607332790"/><meta data-rh="true" property="twitter:card" content="summary_large_image"/><meta data-rh="true" property="twitter:site" content="@BusinessTimes"/><meta data-rh="true" property="twitter:title" content="DBS, OCBC, UOB swell to almost half of ST Index after recent run-up"/><meta data-rh="true" property="twitter:url" content="https://www.businesstimes.com.sg/companies-markets/dbs-ocbc-uob-swell-almost-half-st-index-after-recent-run"/><meta data-rh="true" property="twitter:description" content="AFTER a strong performance this year and an even more spectacular run-up this week, the three local banks are increasingly dominating Singapore鈥檚 benchmark index. 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mb-4"><div class="flex flex-wrap items-center pb-2 md:px-6 md:pb-4"><div class="font-base font-light font-poppins text-4xs tracking-[1px] text-gray-650"><span class="ml-1">SUBSCRIBERS</span></div></div><h1 data-testid="article-title" class="mb-2 font-lct text-4xl font-bold !leading-[1.3] tracking-[-0.045rem] text-gray-850 md:px-6 md:text-10xl">DBS, OCBC, UOB swell to almost half of ST Index after recent run-up</h1><p class="mb-6 mt-2 font-lucida text-xl tracking-[-0.075rem] text-gray-850 md:px-6 md:text-4xl md:leading-normal">This comes after the share prices of DBS and OCBC hit new highs, with DBS comprising about a fifth of the benchmark index鈥檚 market cap</p><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex flex-row items-start justify-start gap-2" data-testid="byline-component"><div class="flex flex-shrink-0 flex-row items-center justify-start"><img class="rounded-full" src="https://cassette.sphdigital.com.sg/image/businesstimes/b3279869ad81fda12240a373106e5b447e49ee3cfded88849dda86b1f437f956" alt="Benjamin Cher" width="50" height="50"/><img class="-ml-2 rounded-full" src="https://cassette.sphdigital.com.sg/image/businesstimes/bcfd1869764300ea11c9dbe5c07203bdd90f054e097763bdbf80bf2e775a0e07" alt="Tan Nai Lun" width="50" height="50"/></div><div class="flex flex-col flex-wrap pl-2"><div class="flex flex-wrap gap-x-1.5"><h4 class="align-middle font-poppins font-semibold text-gray-850 word-break text-base" data-testid="byline-name-component"><a class="!text-gray-850 hover:underline" href="/authors/benjamin-cher" target="_blank">Benjamin Cher &</a></h4><h4 class="align-middle font-poppins font-semibold text-gray-850 word-break text-base" data-testid="byline-name-component"><a class="!text-gray-850 hover:underline" href="/authors/tan-nai-lun" target="_blank">Tan Nai Lun </a></h4></div><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published Wed, Jul 3, 2024 路 07:43 PM</span></div></div></div></div><div class="mb-3 flex items-center justify-between border-b border-t border-gray-250 py-3 md:mx-6 md:mb-6 md:py-4"><div data-testid="article-keyword-filter-first" class="w-full"><div data-testid="article-top-keyword" class="p-3 inline-block w-full bg-transparent !p-0 relative"><div class="group relative"><div class="flex items-center"><a class="line-clamp-1 place-self-center break-all text-center font-poppins text-base font-semibold capitalize !text-gray-850 border-r-0 px-0 md:px-3" href="/keywords/singapore-banks">Singapore banks</a><button data-size="md" type="button" aria-label="Follow tag" class="ml-auto flex aspect-square cursor-pointer items-center justify-center whitespace-nowrap rounded-full !border !border-solid !border-gray-175 px-3 text-center !font-poppins text-xs font-semibold tracking-[0.02em] text-gray-850 !outline-none transition-all duration-150 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height="18"/></div></button></div><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div class="relative h-full"><div class="mx-auto aspect-3x2 w-full max-w-[1400px] bg-gray-250"></div></div></li></ul></div></div><div class="splide"><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div><div class="py-2 px-3 font-poppins text-xs text-gray-850 md:px-8">The earnings resilience coupled with the high interest rate environment compel investors to pile into Singapore banks. PHOTO: BT FILE</div></div></li></ul></div></div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative [&>*:last-child]:relative [&>*:last-child]:after:absolute [&>*:last-child]:after:inset-0 [&>*:last-child]:after:bg-gradient-to-t [&>*:last-child]:after:from-white [&>*:last-child]:after:to-transparent mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">AFTER a strong performance this year and an even more spectacular run-up this week, the three local banks are increasingly dominating Singapore鈥檚 benchmark index. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The proportion of the market capitalisation represented by DBS, OCBC and UOB may rise even further in the coming weeks, as second-quarter results are released and higher-for-longer interest rates are likely to stay, analysts said. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">This increased concentration of banks on the Straits Times Index (STI) highlights the significance of the sector in Singapore, said Danny Khoo, country head of sales trading at Saxo.</p></div><div class="mb-6 border-t border-gray-175"><section class="mx-auto my-4 w-full" data-testid="article-purchase-link-component"><section class="mx-auto flex w-full flex-wrap items-center justify-between gap-4 lg:gap-0 lg:px-3" data-testid="article-purchase-link-version-2-component"><p class="mb-0 font-public-sans text-xs tracking-normal">Copyright The Business Times. 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