Retail investors in Singapore have net bought S$638m worth of stocks in March, up to 24 March, with significant investments in the Financial Services, REITs, and Consumer Cyclicals sectors. This activity contrasts with institutional investors, who were net sellers of S$46m during the same period. The retail buying spree has lifted the cumulative net buying for the first quarter of 2026 to S$675m.
The most notable stocks driving this trend include DBS Group, Genting Singapore, and CapitaLand Ascendas REIT. The latter also raised S$903.5m through an oversubscribed placement and preferential offering, aimed at financing acquisitions in logistics, business parks, and data centres across Singapore, the US, Spain, and Japan.
Retail investors have shown a contrarian approach, focusing on stocks that have underperformed. The 30 most retail-net bought stocks averaged a negative 8.9% return in March, compared to a positive 4.7% for the most net sold stocks. This highlights a value-seeking behaviour among retail investors, who prefer daily laggards over market leaders.
CapitaLand Ascendas REIT, despite a 7.1% decline, saw significant retail interest. The REIT’s recent fundraising efforts are expected to expand its share base by 5.5%, with proceeds allocated for acquisitions and corporate purposes. This strategic move underscores the REIT’s commitment to rejuvenating its portfolio and expanding its asset base.
As retail investors continue to influence market dynamics, their contrarian strategies may shape future investment trends, potentially impacting stock performance and market stability in the coming months.
