Singaporean retail investors are increasingly concerned about international conflicts impacting their portfolios, according to a recent survey by trading platform eToro. Conducted between 12 and 27 February 2026, the survey found that 34% of Singaporean investors now view international conflict as the primary threat to their investments, up from 18% in the previous quarter. This shift in sentiment occurred before the recent escalation in the Middle East, highlighting a growing caution among investors.
The survey, which included 1,000 Singapore-based retail investors, also revealed a decline in confidence in the global economy, with only 35% expressing optimism this quarter, down from 43% in Q3 2025. This uncertainty is further reflected in their investment strategies, as only 38% plan to increase their portfolio contributions in the coming months.
A significant change in investor preference is also evident, with more Singaporean investors now favouring China over the US for long-term returns. For the first time since the survey began, 40% of respondents believe China’s stock market will deliver the strongest returns, surpassing the US at 39%. This marks a notable reversal from Q3 2025, when nearly half of the investors preferred the US.
Zavier Wong, Market Analyst at eToro, noted, “Recent geopolitical developments may be seen as a catalyst here, but it’s clear that Singaporean investors were already displaying heightened levels of caution coming into 2026.”
The generational divide is also apparent, with younger investors still leaning towards the US, whilst older investors are increasingly looking to China. Wong added, “If the policy uncertainty out of the US persists through the year, that gap in generational sentiment may start to close faster than the data currently suggests.”
