The decline in Bank of Singapore stocks intensified. Earlier, J.P. Morgan warned that a sharp rise in long-term bond yields would drag down Southeast Asia Bank's profit in the third quarter. Shares of DBS Group and OCBC both fell by more than 4%, while UOB fell 5.2%. All three banks have been a major drag on the Singapore Straits Times Index. The index fell 3.5%, the biggest drop since April 2025, and became the worst performing major stock index in Asia. Previously, Bank of Singapore stocks had been rising for many years, mainly driven by record profits and Singapore's rising position as a global wealth management center. However, in a context where valuations are already at a high level, the market is beginning to worry that high bond yields may affect bank dividends, and supporting factors are being tested.

The decline in Bank of Singapore stocks intensified. Earlier, J.P. Morgan warned that a sharp rise in long-term bond yields would drag down Southeast Asia Bank's profit in the third quarter. Shares of DBS Group and OCBC both fell by more than 4%, while UOB fell 5.2%. All three banks have been a major drag on the Singapore Straits Times Index. The index fell 3.5%, the biggest drop since April 2025, and became the worst performing major stock index in Asia. Previously, Bank of Singapore stocks had been rising for many years, mainly driven by record profits and Singapore's rising position as a global wealth management center. However, in a context where valuations are already at a high level, the market is beginning to worry that high bond yields may affect bank dividends, and supporting factors are being tested.