DBS Flat: Will Defensive Rotate Out of SGX?
DBS Group closed nearly unchanged at SGD 57.26 as the U.S.-Iran ceasefire materially lifted global risk appetite, temporarily reducing the relative appeal of defensive assets — though DBS's robust dividend profile and growing regional wealth management franchise continue to underpin valuation support. The stock's defensive characteristics on SGX during periods of extreme geopolitical risk were once again validated. With the ceasefire rally in full swing, will capital accelerate its rotation away from SGX defensive names and back into U.S. growth equities?