MsPow

OCBC $OCBC Bank(O39.SG)delivered a solid Q1 2026 result, with profit up 5% YoY to S$1.97B, supported by strong wealth management and non-interest income.

Feels like the bigger story now is funds continuing to flow into Singapore amid Middle East uncertainties. With AI, infra and regional expansion themes building up, local banks could continue benefiting from deposits, financing, FX and wealth activities.

MAS initiatives like EMDP may also gradually improve participation and liquidity in SG equities over time.

Keeping SG bank and manufacturing sector counters on watch.

Market seems to be positioning for a possible shift in focus from geopolitics back to domestic politics. With midterm campaigns likely becoming a bigger priority for Trump moving forward, there may be increasing pressure to get the war situation stabilised sooner rather than later.

Dow has been attempting to test the 50k level since last night. A sustained break and hold above 50k could become an important bullish signal and may open room for a push into fresh highs. Keep watch on price action around this level.

War risks appear to be easing, reducing downside pressure on markets. With sentiment stabilising and liquidity still supportive, the typical “Sell in May” pattern may not play out this year. Instead, focus shifts to earnings resilience and selective opportunities, as markets could continue grinding higher rather than correcting sharply.

STI sitting around 4950-5000 zone, after a strong Q1 run but now clearly losing momentum and trading sideways. Feels like market is in a “pause phase” - not weak but lacking strong catalysts.