DBS shares fall after results; Singapore index eases
SINGAPORE (Reuters) - DBS shares headed south for the first time in seven sessions on Friday, after the bank reported weaker-than-expected quarterly results, while Singapore's benchmark index edged lower despite Asia's resilience against disappointing United States data.
DBS Group Holdings, Singapore's top lender, said net profit for the three months ended December rose 6 per cent to $802 million excluding exceptionals, lower than the $843 million average forecast of six analysts polled by Reuters.
DBS shares eased 0.7 per cent to $16.41 in light trading, with 1.2 million shares changing hands, just over a third of its 90-day average daily turnover.
The benchmark Straits Times Index was down 0.1 per cent at 3,037.8 as of midday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent.