Sea Overtakes DBS as Southeast Asia’s Most Valuable Company

Singapore’s Sea Ltd. has reclaimed its title as Southeast Asia’s most valuable publicly traded company, surpassing DBS Group Holdings Ltd. after a 300% comeback rally powered by its e-commerce arm Shopee.

Shares of the internet company rose 1.1% in New York for a market capitalization of $111 billion. Hours later, regional banking giant DBS finished Tuesday 0.6% lower in Singapore for a valuation of $110.3 billion — officially ceding the top spot to Sea.