DBS is 14.9% weightage of STI index component index and all 3 banks listed in singapore account for 35.7% weightage of STI Index components.
STI component constituents - Weightage as of March 2020
Source from Wikipedia explains why DBS is also the largest bank in South East Asia by assets and amongst the larger bank in Asia that explains why Singapore is the 2nd or 3rd or even 4th world most important financial center in the world. Hence Financial Services industry is probably the largest contributor of Singapore GDP growth.
DBS was named world best bank by Euromoney magazine
Lets look at the technical Chart of DBS.
DBS Monthly Chart 6.3.20
I always adopt contrarian style different from the herds instinct when it comes to trading and investment.
I am not fearful but excited when everyone else is fearful and in extreme fear right now, as i am writing Violatitliy Index (VIX) hit day high 53.15 where psychology resistance 50 breaks, implying we are in extreme fear right now. DBS is currently trading at undervalue ripe for bargain hunting.
DBS open 22.30, day low 21.05 and last close at XXX. DBS is setup for swing trade right now with ttarget of 38 in sight. Feb 2016 low was 10.468 and reached price level of 27.91 high in May 2018, there is a difference of 17.442. using the difference 17.442 + day low 21.05 compute as 38.492 price target for the swing trade.
Disclaimer: All news, information and charts shared is purely by my research and personal views only. This is not a trading recommendation or advice but on the basis of sharing information and educating the investment community. Different traders and investors adopt different trading strategies and risk management approach hence if in doubt please approach or seek clarifications with your Financial Adviser, Broker and Banker.