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DBS is only SG firm in APAC's top 50 companies by market cap

It landed on the 40th spot, the GlobalData ranking showed.

DBS ranked 40 in GlobalData's top 50 firms by market capitalisation in the Asia Pacific, the only Singaporean company included in the list.

The company improved its ranking from 55th in the previous year after it grew its market capitalisation value year-on-year (YoY) to $91.2b.

The combined market capitalisation of the top 50 companies in the region surged to $8.1t reflecting a 20.6% YoY increase. Technology firms led the charge, with Taiwan Semiconductor Manufacturing Company and Tencent Holdings dominating the rankings.

Accordingly, the technology sector topped with 16 companies contributing a total market value of $3.1t. China led the rankings with 22 companies collectively valued at $3.9t, followed by Japan with 11 companies at $1.4t, and India with seven companies accounting for $914b.

The oil and gas sector reflected a mixed performance. The market cap of PetroChina, ranked 10th, grew by 22.8%, whilst CNOOC’s 46.5% growth propelled it to 24th place.

In contrast, Indian energy giant Reliance Industries slipped to 13th with an 8.6% decline, reflecting margin pressures and challenges in downstream operations.

Chinese financial institutions maintain a commanding presence as ICBC, Agricultural Bank of China, and Bank of China stood at third, sixth, and eighth, respectively.

“Equity markets in early 2025 will likely be influenced by key policy decisions such as any fiscal support measure from China, a shift in trade and diplomatic strategies of the US under a new government, or an announcement of an interest rate hike,” Murthy Grandhi, company profiles analyst at GlobalData, said.

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