[SINGAPORE] The recent dumping of Singapore bank shares on concerns of a possible slowdown in wealth management growth in North Asia was “overdone”, Maybank Securities said on Thursday (Jun 11).

Over the past week, DBS fell 4.6 per cent, OCBC declined 5 per cent and UOB slid 2.3 per cent on news of China’s tightening of fund outflows and a broader artificial intelligence-linked pullback across global markets.

Given the Singapore banking trio’s focus on wealth management as a growth engine – for instance, DBS plans to open 18 new and 36 upgraded wealth centres across the Asia-Pacific by 2027 – some analysts fear the tighter framework could hinder the strategy.

In 2025, North Asia accounted for 22 per cent of profit before tax for DBS, 18 per cent for OCBC and 7 per cent for UOB, Maybank noted.

What is Order No 837?

China’s State Council Order No 837, which takes effect on Jul 1, could restrict North Asian wealth management pipelines.

The new regulations will for the f...