Retail investors in Singapore recorded a significant S$2.6b net inflow into the stock market in 2025, with a substantial focus on banking stocks, according to a recent update from SGX Research. The largest beneficiaries of this influx were DBS Group Holdings, United Overseas Bank (UOB), and Oversea-Chinese Banking Corporation (OCBC), which collectively attracted S$3.88b in net retail inflows.
In the first half of 2025, retail investors contributed S$2.2b to Singapore stocks, followed by an additional S$413m in the latter half. DBS emerged as the top recipient, particularly in the two weeks following Tariff Liberation Day in April, when nearly half of the year’s net inflow was concentrated. This period saw a surge in retail buying, with DBS alone receiving S$1.387b in net inflows during the first half of the year.
Excluding the STI banks, the rest of the Singapore stock market experienced S$1.26b in net retail outflows over the year. This trend was driven by the banks’ attractive dividend yields amidst falling local interest rates, which maintained steady inflows throughout the year.
Exchange-traded funds (ETFs) also saw significant activity, with STI, REIT, and APAC financial-focused ETFs accounting for six of the top 10 net purchased ETFs by retail investors. The Lion-Phillip S-REIT ETF and Amova-STC Asia Ex Japan REIT ETF led the pack, reflecting a buy-and-hold strategy in a lower interest rate environment.
The data highlights the retail sector’s growing influence in the Singapore stock market, with implications for continued investment trends in 2026.
