Overview

On February 5 , 2026, Oversea‑Chinese Banking Corporation Limited (OCBC) advanced modestly by 0.05 % in Singapore’s bourse, closing at SGD 21.23. The stock’s movement is in line with the broader trend of incremental gains across the market, which has recorded three straight sessions of higher close‑prices and set a fresh record above 4,975 points on the Straits Times Index (STI).

OCBC’s market capitalization stands at SGD 95,338,643,456, with a price‑to‑earnings ratio of 13.31. The bank’s share price has ranged from a 52‑week low of SGD 14.35 (April 8, 2025) to a 52‑week high of SGD 26.02 (October 19, 2025).

Regional Context

Indonesia’s Finance Minister Purbaya Yudhi Sadewa’s comments on Thursday, February 4, followed a downgrade of the country’s credit outlook by Moody’s to negative. The downgrade, citing policy uncertainty and weakening governance under President Prabowo Subianto, triggered selling pressure on local equities, bonds and the rupiah. While the Indonesian market experienced volatility, the impact on OCBC is indirect; the bank’s operations span Southeast Asia, and a weakened rupiah could influence currency‑related risks in the region.

In the same week, silver prices fell sharply, a trend that reverberated across precious metals and affected regional equities. OCBC’s strategy officer, Kristofer Vong, noted that the negative sentiment in metals markets has contributed to a tightening of liquidity conditions, which can indirectly affect market stability.

Company Performance

Share Price

  • Close (2026‑02‑05): SGD 21.23
  • Change: +0.05 % (0.01 SGD)

Market Capitalization

  • Market Cap: SGD 95,338,643,456

Valuation

  • Price‑to‑Earnings Ratio: 13.31

The modest gain in share price aligns with the general upward momentum seen in the STI, which recorded a 0.21 % increase to 4,975.87 on February 4. Among active stocks, OCBC’s performance was comparable to peers, adding 0.05 % to the index’s movement.

Analyst Commentary

  • Kristofer Vong (OCBC Strategy Officer): “The recent sharp decline in silver prices has highlighted the fragility of market liquidity. The ensuing tightening of conditions has compounded the downward pressure on commodity prices. While our core banking operations remain resilient, the broader market volatility warrants close monitoring.”

  • Singapore Stock Market Analysts: OCBC’s performance was described as “steady” in a market that is consolidating after three consecutive gains. Analysts noted that the bank’s robust regional footprint and diversified asset base underpin its resilience amidst regional economic headwinds.

Outlook

  • Regional Economic Growth: Indonesia’s Finance Minister projects a potential GDP growth above 6 % for the year, a figure that, if achieved, could mitigate some of the negative sentiment spurred by Moody’s downgrade.
  • Market Stability: The Singapore market is expected to maintain a cautious stance, with investors likely to lock in gains ahead of Friday’s consolidation.
  • Commodity Markets: Continued volatility in precious metals may influence investor sentiment across the region, although OCBC’s exposure to these markets is limited compared to its banking operations.

In summary, Oversea‑Chinese Banking Corporation’s share price remained largely unchanged amid a broader market that has been experiencing incremental gains. Regional developments in Indonesia and commodity markets present potential risks, but the bank’s solid valuation metrics and diversified operations provide a buffer against short‑term volatility.