DBS down as investors brace for more bad news

SINGAPORE (Aug 5): Shares of DBS are down 1.2% at $14.86, falling for the seventh consecutive session as investors worry about the bank's exposure to the oil and gas sector.

DBS will report its 2Q earnings early on Monday. The bank is expected to increase the provisioning for its exposure to companies that provide services and equipment to offshore oil exploration and production firms.

DBS said last week that it has a $700 million exposure to Swiber Holdings, the first big Singapore oil services firm to be forced into judicial management, after being hit by low oil prices.

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