Date: March 10, 2025
4 in 5 Singaporean investors remain confident about investing in Singapore stocks
Key insights unveiled from the survey commissioned through a collaboration between The Securities Investors Association Singapore (SIAS) and Beansprout include:
- Greater access to research cited as key to bolstering confidence in Singapore stocks, particularly amongst beginner investors.
- 4 in 5 Singaporean investors show keen interest in investing in Singapore stocks, with older investors allocating more.
- Returns outweighed all other factors as a top priority for investors.
Singapore (10 March 2025) – The Securities Investors Association (Singapore) (SIAS) and Beansprout have unveiled survey findings from the Singapore Retail Investor Pulse Survey, offering insights into investor sentiment and strategies in a bid to revitalise the domestic equities market.
The survey was conducted over a period of 3 months and drew 1,011 responses from a diverse pool of participants, including members from the SIAS and Beansprout databases, as well as the broader public. The demographics are sufficiently represented across all age groups with the majority of respondents possessing some form of investment experience.
On the back of the Monetary Authority of Singapore’s (MAS) Equities Market Review Group’s first set of measures to strengthen the competitiveness of Singapore’s equities market announced on 21st February 2025, this survey underscores the opportunities in generating sustained investor interest in the market.
The announcement coincides with Singapore’s Straits Times Index (STI) reaching a new record high in February, with the trio of local banks, DBS, OCBC and UOB, averaging 33%1 in price gains over the past 10 months. In 2024, the two key Exchange Traded Funds (ETFs) that track the STI also saw a combined surge in AUM to S$2.5 billion2 for the first time, accounting for over one-fifth of all Singapore-listed ETFs. Underscoring the market’s allure is the STI’s dividend yield – an estimated 5.3% for 2024 – above its historical average of 4.3%.
The survey reveals critical trends shaping investment behaviours and preferences in the Singapore market. The key findings include:
- Sustained interest: Over 80% respondents are interested or open to investing in Singapore stocks with older investors allocating more due to familiarity and stability.
- Investment Barriers: Low returns, limited attractive options, and market liquidity are the top 3 deterrents.
- Performance-Driven Decisions: Returns are the top priority for investors, outweighing all other factors.
- Quality Over Quantity: Investors prefer better stock investment options rather than more choices.
- Importance of Analyst Reports: Analyst reports are seen as a critical resource, heavily influencing investment decisions and building confidence, especially among beginner investors.
- Distribution of Reports: Financial news websites and article formats are key media for research reports, displacing traditional pdf reports by brokerages.
- Building Confidence: Greater access to research is essential to boost confidence in Singapore stocks.
In addition to the recently conducted investor survey, SIAS held an Investor Forum on 24th February 2025, bringing together about 60 retail investors to discuss ways to enhance Singapore’s stock market vibrancy. This timely discussion came shortly after MAS announced on 21st February 2025 a comprehensive set of measures to strengthen Singapore’s equities market.
The session, moderated by Gerald Wong, Founder & CEO of Beansprout, featured a panel comprising Mr. Geoff Howie, Market Strategist, SGX; Mr. Melvin Tan, Chief Executive, Hinterlan; and Mr. TK Yap, Honorary Adviser, SIAS. Together, they discussed the survey results, the newly announced initiatives and engaged investors in a constructive dialogue on key opportunities for market improvement. The key suggestions from retail investors include:
- Expanding Investment Opportunities: Investors highlighted the need to attract more high-growth and innovative companies to list on SGX, broadening the range of investment options beyond traditional sectors.
- Engaging Younger Investors: There is an opportunity to better connect with younger investors by leveraging digital-first investment solutions and making the stock market more accessible and relevant to them.
- Lowering Trading Costs: Reducing trading fees to be more competitive with other global markets could encourage greater retail participation in Singapore stocks.
- Modernising Research Accessibility: Investors increasingly prefer to access insights through digital platforms and interactive content, highlighting the need for more user-friendly research formats.
- Increasing Retail Accessibility: Lowering the minimum board lot size would allow retail investors to enter the market with smaller capital, promoting broader participation.
Beyond enhancing market vibrancy, investors also emphasised the importance of investor protection and corporate governance. There was a strong call for investor recourse, stricter enforcement of fiduciary duties for directors and company management to build trust and confidence in the market.
The feedback gathered from the survey and forum will be shared with key stakeholders to help shape future initiatives aimed at strengthening Singapore’s equity market and fostering long-term investor confidence.
Mr David Gerald, President & CEO, SIAS, said, “The survey provides valuable insights into the challenges and opportunities in Singapore’s equities market. Addressing investor concerns and enhancing market confidence are crucial to revitalising retail participation. SIAS urges greater collaboration between regulators, market operators, and listed companies to implement measures that improve liquidity, increase investor engagement, and enhance corporate transparency.”
Mr Gerald Wong, Founder & CEO, Beansprout, added, “The survey highlights the vital role research reports play in shaping investment decisions and the need to make research more accessible to investors. By improving access to high-quality insights, we can boost confidence in Singapore stocks and empower retail investors to make well-informed choices. At Beansprout, we are committed to providing practical and objective insights to support investors in their financial journeys.”
For more information on the Singapore Retail Investor Pulse Survey, please visit SIAS or Beansprout’s website, or contact Pauline Soh from SIAS and Gerald Wong from Beansprout.
About SIAS
The Securities Investors Association (Singapore) (SIAS) is a Charity and an Institution of Public Character (IPC). Over the last 25 years, it is the leading advocate for retail investors in Singapore, promoting investor education, corporate governance and market transparency and investor rights. For more information: https://sias.org.sg/
About Beansprout
Beansprout (https://growbeansprout.com) is Singapore’s leading financial insights platform licensed by the MAS. By combining expert analysis, investor education, and user-friendly tools, Beansprout is dedicated to empowering retail investors with clear, actionable insights to make informed financial decisions.
Media Contacts:
| SIAS
Pauline Soh |
Beansprout
Gerald Wong |
1/2 SGX Research: Straits Times Index Makes Fresh All-Time High Above 3,900 https://www.sgx.com/research-education/market-updates/20250211-straits-times-index-makes-fresh-all-time-high-above-3900
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