Retail investors poured a net $2.0 billion (S$2.62 billion) into Singapore equities in 2025, continuing a strong six-year trend that has seen total cumulative inflows reach approximately $13.3 billion (S$17 billion). The bulk of this activity occurred during the first six months of the year, which saw $1.7 billion in net buying, while the second half added a more modest $322 million. This investment surge was intensely focused on the banking sector, as retail traders sought stability and returns amid shifting economic conditions.
DBS Group Holdings stood out as the top choice for investors, with nearly half of its annual inflows arriving in a concentrated two-week burst following “Tariff Liberation Day” in April. Alongside DBS, United Overseas Bank and Oversea-Chinese Banking Corporation also experienced significant demand. Together, these three major financial institutions attracted a total of $3.0 billion (S$3.88 billion) in net retail inflows, effectively serving as the primary engine for the market’s retail growth.
In contrast, the rest of the Singapore market struggled to retain retail interest, recording net outflows of $1.0 billion (S$1.26 billion) for the year when the big banks were excluded. This divergence was largely driven by April’s market volatility and a strategic shift by investors toward banks, whose dividend yields became increasingly attractive compared to falling domestic interest rates.
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