Singapore Banks Likely Sustained Noninterest Income Strength in 3Q -- Market Talk

Dow Jones10-22

0807 GMT - Singapore banks likely sustained strength in noninterest income for 3Q, says Jayden Vantarakis, Macquarie Capital's head of Asean and Singapore research, in a note. Vantarakis expects DBS, UOB and OCBC to report a 35% on-year increase in wealth fees. U.S. bank earnings, which are usually a good indicator of Singapore banks' trading income, point to a strong base for 3Q, Vantarakis says. However, it is too early to see the impact of Fed rate cuts, Vantarakis adds. OCBC's downward momentum on net interest margin may have extended into 3Q, Macquarie says. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

October 22, 2024 04:07 ET (08:07 GMT)

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However, it is too early to see the impact of Fed rate cuts, Vantarakis adds. OCBC's downward momentum on net interest margin may have extended into 3Q, Macquarie says. (amanda.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 22, 2024 04:07 ET (08:07 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Banks Likely Sustained Noninterest Income Strength in 3Q -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Banks Likely Sustained Noninterest Income Strength in 3Q -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-22 16:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0807 GMT - Singapore banks likely sustained strength in noninterest income for 3Q, says Jayden Vantarakis, Macquarie Capital's head of Asean and Singapore research, in a note. Vantarakis expects DBS, ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0031814969.USD","symbol_name":"FSSA ASEAN ALL CAP FUND \"I\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477809153","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477809153","pubTimestamp":1729584420,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0807 GMT - Singapore banks likely sustained strength in noninterest income for 3Q, says Jayden Vantarakis, Macquarie Capital's head of Asean and Singapore research, in a note. Vantarakis expects DBS, UOB and OCBC to report a 35% on-year increase in wealth fees. U.S. bank earnings, which are usually a good indicator of Singapore banks' trading income, point to a strong base for 3Q, Vantarakis says. However, it is too early to see the impact of Fed rate cuts, Vantarakis adds. OCBC's downward momentum on net interest margin may have extended into 3Q, Macquarie says. 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Vantarakis expects DBS, UOB and OCBC to report a 35% on-year increase in wealth fees. U.S. bank earnings, which are usually a good indicator of Singapore banks' trading income, point to a strong base for 3Q, Vantarakis says. However, it is too early to see the impact of Fed rate cuts, Vantarakis adds. OCBC's downward momentum on net interest margin may have extended into 3Q, Macquarie says. 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