STI Tumbles 3.49% to 5,412.96 as Banks Fall in Unison and Declines Sweep 25 of 30 Stocks

Thursday, 8 October 2026 · Longbridge Singapore

The Straits Times Index fell 195.48 points, or 3.49%, to close at 5,412.96 on Thursday, a second straight session of losses following Wednesday's 1.63% decline. The index ranged between an intraday high of 5,592.53 — itself below Wednesday's 5,608.44 close — and a low of 5,407.26, finishing just 5.70 points above the session low. The decline was unusually broad: 25 of the 30 constituents fell, against two advancers and three little-changed names, a sharp contrast with the narrower, handful-of-names declines that drove several of the index's recent down sessions.

Banking heavyweights led Thursday's slide, and for once moved in a tight cluster rather than diverging as they have through much of the past two months: UOB fell 5.16%, DBS 4.70% and OCBC 4.29%, extending the sell-off that began Wednesday when Citigroup downgraded OCBC to Sell and erased roughly S$7 billion of its market value. The pressure spread well beyond the banks, pulling Keppel down 4.81% and ST Engineering down 4.71% by similarly steep margins, and left only a small handful of names — led by Jardine Matheson and DFI Retail — in positive territory.

Session Movers

Jardine Matheson (J36.SG, +1.14%) rose to $56.56, the only one of Thursday's highlighted movers to advance, after disclosing it repurchased 35,000 ordinary shares at US$56.0249 each on Oct. 7 for a total of US$1,960,871.50; the shares will be cancelled, reducing issued capital from 292,372,776 shares. Shares trade at 0.575 times book, cheaper than roughly 24% of the past five years, against a consensus Strong Buy rating and an $85.12 target implying 50.50% upside.

UOB (U11.SG, -5.16%) fell to $40.25, the steepest decline in the 30-member basket, as the sell-off triggered Wednesday by Citigroup's downgrade of OCBC continued into a second session, with UOB this time posting the sharpest of the three banks' declines. Separately, the bank said Thursday it plans to recruit 1,000 fresh graduates over the coming year, and remains in exclusive due diligence alongside IOI Properties and CapitaLand Investment over a roughly S$2.3 billion to S$2.4 billion sale of its stake in One Raffles Place. Shares trade at 1.41 times book, above UOB's comfortable range and cheaper than just 3.07% of the past five years, against a consensus Hold rating and a $43.36 target implying 7.73% upside.

Singtel (Z74.SG, -1.4%) fell to $4.24, a comparatively contained decline next to the banks, with no fresh company disclosure Thursday. The stock continues to digest Temasek's S$6.6 billion sale of its stake in ST Telemedia Global Data Centres to KKR and Singtel, which Temasek's chief executive said this week reflected rising costs and differing risk tolerances rather than any retreat from data-centre demand, even as Temasek raises its allocation to cash-yielding assets to navigate overlapping geopolitical, energy and technology risks. Shares trade at 19.82 times earnings against a consensus Buy rating and a $5.31 target implying 25.31% upside.

Singapore Exchange (S68.SG, -3.05%) fell to $20.64, giving back most of Wednesday's 1.19% rebound, with no fresh company disclosure Thursday. The retreat came even as its reduced board-lot regime continued gaining traction in its second trading day — the Oct. 5 change cutting the minimum lot from 100 to 10 shares for 11 higher-priced stocks, including DBS and UOB, had already produced more than 20,000 ten-share trades on its first day, with about 55% of analyzed trades falling below the old 100-share minimum. Shares trade at 32.58 times earnings, cheaper than about half of the past year, against a consensus Hold rating and a $24.23 target implying 17.41% upside.

One point worth noting

Thursday's decline was unusually broad: 25 of the index's 30 constituents fell, against two advancers and three unchanged names, a sharp contrast with the narrower, handful-of-names declines that drove the index lower on Oct. 2 and Oct. 7. The three local banks also moved in a tight cluster for once — UOB's 5.16% drop, DBS's 4.70% and OCBC's 4.29% sit within less than a percentage point of each other, after months in which one bank typically diverged sharply from the other two — while Keppel (-4.81%) and ST Engineering (-4.71%) showed the sell-off extended well past the financial sector.

This recap is for informational purposes only and does not constitute investment advice.

STI重挫3.49%收报5,412.96点，三大银行同步下跌、30只成分股中25只收跌

2026年10月8日星期四 · 长桥新加坡

海峡时报指数周四收跌195.48点，跌幅3.49%，报5,412.96点，连续第二个交易日下跌（周三跌1.63%）。指数盘中介于5,592.53点高位——本身低于周三5,608.44点收盘价——与5,407.26点低位之间波动，收盘仅比全天低点高5.70点。当天跌势异常广泛：30只成分股中25只收跌，仅2只上涨、3只持平，与近期多次集中在少数个股的跌势明显不同。

银行权重股领跌周四跌势，且这次罕见地同步收窄差距，而非像过去两个月那样常常分化：大华银行跌5.16%、星展银行跌4.70%、华侨银行跌4.29%，延续了周三花旗集团下调华侨银行评级至「卖出」、抹去其约70亿新元市值后开启的抛售。压力并未止步于银行股，吉宝（-4.81%）、新科工程（-4.71%）同样大幅收跌，全场仅怡和集团与牛奶国际等少数个股收涨。

个股焦点

怡和集团（Jardine Matheson，J36.SG，+1.14%）收报56.56新元，是周四几只焦点个股中唯一上涨的一只，此前公司披露10月7日以每股56.0249美元回购35,000股普通股，总金额1,960,871.50美元，回购股份将被注销，已发行股本由292,372,776股相应减少。该股现市净率0.575倍，比过去近5年约24%的时间更便宜，共识评级「强烈买入」，目标价85.12新元，隐含50.50%上行空间。

大华银行（UOB，U11.SG，-5.16%）收报40.25新元，是全场30只成分股中跌幅最深的个股，周三由花旗集团下调华侨银行评级引发的银行股抛售延续至第二个交易日，这一次大华银行的跌幅反而超过另外两家银行。另外，大华银行周四宣布未来一年计划招聘1,000名应届毕业生，并仍与IOI产业集团、凯德投资就以约23亿至24亿新元出售其所持莱佛士坊一号权益展开独家尽职调查。该股现市净率1.41倍，高于自身合理区间，比过去近5年仅3.07%的时间更便宜，共识评级「持有」，目标价43.36新元，隐含7.73%上行空间。

新电信（Singtel，Z74.SG，-1.4%）收报4.24新元，相对银行股而言跌幅温和，当天并无新公司披露。市场仍在消化淡马锡将旗下STT GDC数据中心权益以66亿新元出售给KKR与新电信一事，淡马锡行政总裁本周表示，此举反映成本上升及风险承受差异，而非对数据中心需求的看淡，同时淡马锡正提高现金收益型资产配置，以应对地缘政治、能源与科技领域交织的多重风险。该股现市盈率19.82倍，共识评级「买入」，目标价5.31新元，隐含25.31%上行空间。

新交所（SGX，S68.SG，-3.05%）收报20.64新元，几乎回吐周三+1.19%的反弹，当天并无新公司披露。此次回落发生之际，其降低交易单位新规在实施第二天仍持续获得采用——自10月5日起，11只股价逾10新元个股（含星展银行、大华银行）最低交易单位从100股降至10股，新规首日已累计执行逾2万笔10股交易，约55%低于原100股门槛。该股现市盈率32.58倍，比过去近1年约一半的时间更便宜，共识评级「持有」，目标价24.23新元，隐含17.41%上行空间。

一个值得注意的点

周四的跌势异常广泛：30只成分股中25只收跌，仅2只上涨、3只持平，与10月2日、10月7日两次跌势集中在少数个股的格局明显不同。三大银行这次也罕见地收窄分化：大华银行跌5.16%、星展银行跌4.70%、华侨银行跌4.29%，彼此差距不足1个百分点，一改过去数月常见的某一家银行明显偏离另两家的模式；吉宝（-4.81%）、新科工程（-4.71%）的同步重挫则显示，此次抛售压力远远超出了金融板块。

本文仅供参考，不构成任何投资建议。

STI重挫3.49%收盤報5,412.96點，三大銀行同步下跌、30檔成分股中25檔收跌

2026年10月8日週四 · 長橋新加坡

海峽時報指數週四收跌195.48點，跌幅3.49%，報5,412.96點，連續第二個交易日下跌（週三跌1.63%）。指數盤中介於5,592.53點高點──本身低於週三5,608.44點收盤價──與5,407.26點低點之間波動，收盤僅比全天低點高5.70點。當天跌勢異常廣泛：30檔成分股中25檔收跌，僅2檔上漲、3檔持平，與近期多次集中在少數個股的跌勢明顯不同。

銀行權值股領跌週四跌勢，且這次罕見地收斂差距，而非像過去兩個月那樣常常分化：大華銀行跌5.16%、星展銀行跌4.70%、華僑銀行跌4.29%，延續了週三花旗集團下調華僑銀行評等至「賣出」、抹去其約70億新元市值後開啟的拋售。壓力並未止步於銀行股，吉寶（-4.81%）、新科工程（-4.71%）同樣大幅收跌，全場僅怡和集團與牛奶國際等少數個股收漲。

個股焦點

怡和集團（Jardine Matheson，J36.SG，+1.14%）收報56.56新元，是週四幾檔焦點個股中唯一上漲的一檔，此前公司揭露10月7日以每股56.0249美元回購35,000股普通股，總金額1,960,871.50美元，回購股份將被註銷，已發行股本由292,372,776股相應減少。該股現市淨率0.575倍，比過去近5年約24%的時間更便宜，共識評等「強烈買入」，目標價85.12新元，隱含50.50%上行空間。

大華銀行（UOB，U11.SG，-5.16%）收報40.25新元，是全場30檔成分股中跌幅最深的個股，週三由花旗集團下調華僑銀行評等引發的銀行股拋售延續至第二個交易日，這次大華銀行的跌幅反而超過另外兩家銀行。另外，大華銀行週四宣布未來一年計劃招募1,000名應屆畢業生，並仍與IOI產業集團、凱德投資就以約23億至24億新元出售其所持萊佛士坊一號權益展開獨家盡職調查。該股現市淨率1.41倍，高於自身合理區間，比過去近5年僅3.07%的時間更便宜，共識評等「持有」，目標價43.36新元，隱含7.73%上行空間。

新電信（Singtel，Z74.SG，-1.4%）收報4.24新元，相對銀行股而言跌幅溫和，當天並無新公司揭露。市場仍在消化淡馬錫將旗下STT GDC數據中心權益以66億新元出售給KKR與新電信一事，淡馬錫執行長本週表示，此舉反映成本上升及風險承受度差異，而非對數據中心需求的看淡，同時淡馬錫正提高現金收益型資產配置，以應對地緣政治、能源與科技領域交織的多重風險。該股現本益比19.82倍，共識評等「買入」，目標價5.31新元，隱含25.31%上行空間。

新交所（SGX，S68.SG，-3.05%）收報20.64新元，幾乎回吐週三+1.19%的反彈，當天並無新公司揭露。此次回落發生之際，其降低交易單位新制在實施第二天仍持續獲得採用──自10月5日起，11檔股價逾10新元個股（含星展銀行、大華銀行）最低交易單位從100股降至10股，新制首日已累計執行逾2萬筆10股交易，約55%低於原100股門檻。該股現本益比32.58倍，比過去近1年約一半的時間更便宜，共識評等「持有」，目標價24.23新元，隱含17.41%上行空間。

一個值得注意的點

週四的跌勢異常廣泛：30檔成分股中25檔收跌，僅2檔上漲、3檔持平，與10月2日、10月7日兩次跌勢集中在少數個股的格局明顯不同。三大銀行這次也罕見地收斂分化：大華銀行跌5.16%、星展銀行跌4.70%、華僑銀行跌4.29%，彼此差距不足1個百分點，一改過去數月常見某一家銀行明顯偏離另兩家的模式；吉寶（-4.81%）、新科工程（-4.71%）的同步重挫則顯示，此次拋售壓力遠遠超出了金融板塊。

本文僅供參考，不構成任何投資建議。