DBS Hits New Highs! JPMorgan Releases 2026 SG Top Picks: Do You Agree?

Tiger_SG
12-24
Reward Tiger-CoinsReward 500 Tiger-coins

$DBS(D05.SI)$ has recently continued to set new highs, with its share price up 36% year to date. As both DBS and OCBC delivered exceptional performance in 2025, can investors continue to hold these names into 2026?

Some institutions expect the financial sector to remain a key beneficiary under Trump-era policies. During Trump’s previous presidency, deregulation in the financial sector helped drive a sharp rally in major bank stocks.

JPMorgan believes there is significant upside potential for Singapore equities in 2026.

According to JPMorgan analysts, ASEAN equity markets are approaching a turning point in 2026. After years of underperformance, corporate earnings and valuations are expected to recover simultaneously.

The Monetary Authority of Singapore (MAS) has also introduced supportive policy measures. JPMorgan argues that the current market rally “still has a long way to go.” With new initiatives such as the SGD 5 billion Equity Market Development Programme and the SGX–Nasdaq dual-listing connectivity framework, the return on equity (ROE) of Singapore-listed companies could rise to a historical high of 12%, up from around 10% currently.

At the same time, global fund allocation to Singapore equities remains relatively low. Meanwhile, as much as SGD 70 billion in excess cash is gradually rotating from bank deposits into equities, providing strong structural support for the stock market.

JPMorgan has named DBS, $Keppel(BN4.SI)$ , $CityDev(C09.SI)$ , $CapLand IntCom T(C38U.SI)$ , $ST Engineering(S63.SI)$ , $Sea Ltd(SE)$ , and $Singtel(Z74.SI)$ as its top Singapore stock picks for 2026.
By contrast, $UOB(U11.SI)$ and $YZJ Shipbldg SGD(BS6.SI)$ were placed on its less-favored list.

output0.pngoutput0.png

Do you think DBS will continue to shine in 2026?

How do you view JPMorgan’s Singapore top picks?

For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.

Find out more here.

Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.

Click to access the activity

Other helpful links:

DBS Hits New Highs! JPMorgan 2026 SG Top Picks: Do You Agree?
DBS has recently continued to set new highs, with its share price up 36% year to date. JPMorgan believes there is significant upside potential for Singapore equities in 2026. JPMorgan has named DBS, Keppel, City Developments, CapitaLand Integrated Commercial Trust, ST Engineering, Sea, and Singtel as its top Singapore stock picks for 2026.By contrast, UOB and Yangzijiang Shipbuilding were placed on its less-favored list. Do you think DBS will continue to shine in 2026?How do you view JPMorgan’s Singapore top picks?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Reward 500 Tiger-coinsDeadline to 01/06 03:50
The originator will select the best recovery and allocate Tiger coins before the reward ends
Reward-post

Comments

  • koolgal
    12-25 13:08
    koolgal
    🌟🌟🌟I am amazed at JPMorgan's vote of confidence in Singapore.  They are bullish on the Singapore market for 2026 as they are seeing an inflexion point driven by a massive rotation of SGD 70 billion from cash into equities.

    For new investors, do you know that apart from $Sea Ltd(SE)$ the other 6 stocks are listed in STI ETF?

    SEA is the only stock that is listed in NYSE.  SEA offers explosive growth potential through its ECommerce (Shopee), digital entertainment (Garena) and fintech (SEA Money) segments.  SEA is suitable for those investors willing to take in more volatility and forex risk.

    $STI ETF(ES3.SI)$ had an amazing year & has delivered a staggering 27% return year todate.

    For years the Singapore market was often overlooked in favour of flashier US tech growth but not any longer.

    I am happy that 2025 is a great year for the Singapore market.  May 2026 be another phenomenal year for Singapore.🌈🌈💰💰

    @Tiger_comments @Tiger_SG @TigerStars @TigerClub @CaptainTiger

  • Shyon
    12-24
    Shyon
    From my perspective, DBS $DBS(D05.SI)$ can still perform well in 2026, though returns should be steadier after a strong 2025. Its solid ROE, disciplined capital management, and leading regional franchise support its role as a core holding, even if rate cuts pressure margins.

    I’m aligned with JPMorgan’s constructive view on Singapore equities. Supportive MAS policies, market development initiatives, and low global allocations suggest the market rerating still has room to run into 2026.

    JPMorgan’s top picks look balanced, with Keppel $Keppel(BN4.SI)$ , CapitaLand Integrated Commercial Trust $CapLand IntCom T(C38U.SI)$ , ST Engineering $ST Engineering(S63.SI)$ , and Singtel $Singtel 10(Z77.SI)$ offering stability, while Sea adds growth. For 2026, I would stay overweight quality banks like DBS and selectively add defensives and regional growth names.

    @Tiger_comments @TigerStars @Tiger_SG

  • 1PC
    12-24
    1PC
    I think 🤔 its a good pick by JPMorgan . DBS will continue to shine in 2026 & my portfolio also includes some of JPM selection too. However UOB will still be one of my core SG portfolio stocks [Happy]. Follow my chart 📈📈📈 @JC888 @Barcode @Aqa @DiAngel @Shyon @Shernice軒嬣 2000 @koolgal
    • koolgal: 
      Great insights 🥰🥰🥰
    • Shyon: 
      Congratulations
  • 北极篂
    12-25
    北极篂
    总结来看，2026年的星展未必再“爆发”，但继续稳健闪耀，我并不意外。关键在于，把它当作核心资产，而不是短线博弈的工具。
  • 北极篂
    12-25
    北极篂
    至于“特朗普时代”政策预期，我并不完全把它当成决定性因素。放松监管确实利好金融股，但那更像是放大器，而不是发动机。真正支撑银行股的，还是盈利能见度和资本回报。在这一点上，新加坡银行体系本身就相对稳健，不需要太多外部刺激。
  • BTS
    12-26 16:52
    BTS
    Analysts at JPMorgan (JPM) anticipate that 2026 will serve as a significant inflection point for Singaporean stocks, driven by a rotation of massive local cash reserves back into the equity market as global interest rates decline

    JPM is confident in DBS (D05) due to its robust wealth management growth, leading to expectations of continued share buybacks or special dividends in 2026

    The selection by JPM focuses on a mix of defensive income, with DBS (D05) for growth, Keppel (BN4) for sustainability, CityDev (C09) for real estate, CapLand IntCom T (C38U) for REITs, ST Engineering (S63) for diversification, SEA Ltd (SE) for e-commerce, Singtel (Z74) for telecom, while UOB (U11) and YZJ Shipbldg SGD (BS6) are placed on the less-favored list due to competition and volatility, respectively。。。

    The top picks for 2026 highlight companies positioned to capitalize on key growth sectors such as digital finance, green energy, and real estate
    Tag :
    @Huat99
    @Snowwhite

Leave a comment
43
27