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DBS becomes first Singapore stock to top S$200 billion in market value.

stock :: 3hrs ago :: source - reuters

By Reuters

(Reuters) - DBS ‌Group's (DBSM.SI) market value closed above S$200 billion ($154.8 billion) on ​Monday for the first ​time, a milestone for both ⁠Singapore's biggest bank by ​asset size and the city-state's ​stock market.

Its shares ended nearly 0.5% higher at S$70.79, after ​touching an all-time high ​of S$70.80 earlier in the session, ‌taking ⁠their gains so far this year to some 26%.

The rally comes before DBS ​reports its ​second-quarter ⁠results on August 6. The bank posted a ​1% rise in ​first-quarter ⁠net profit to S$2.93 billion, helped by record income ⁠and ​strong wealth management ​fees.

($1 = 1.2918 Singapore dollars)

Reporting by Yantoultra ​Ngui, Editing by Louise Heavens


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