Market View: DBS’s net profit up 15% yoy to S$2.95b to mark new high

The Evening Runway with Hongbin Jeong, Roshan Gidwani and Chua Tian Tian

Singapore shares advanced at the opening bell this morning, with local banks leading gains despite subdued performance in global markets.

In early trade, the Straits Times Index (STI) rose 0.5 per cent to 3,307.6 points after 68.7 million securities changed hands in the broader market.

In terms of companies to watch, we have DBS. The lender today announced a 15 per cent year-on-year rise in first quarter net profit to S$2.95 billion, marking a new high.

Elsewhere, from the US Federal Reserve holding interest rates steady overnight and putting a red flag on disappointing inflation readings, to the impact on the Yen – more international headlines in focus.

Also in focus – Elon Musk’s surprise China visit. Plus – how much did Alphabet pay Apple for Google to be the default search engine in the Safari browser?

On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Chow, Director Azure Capital.

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