Top Singapore stocks to watch in 2026

Understanding the Singapore stock market

Singapore’s stock market is anchored by the Singapore Exchange (SGX), a well-regulated marketplace attracting both domestic and global capital.

The SGX lists over 600 companies across diverse sectors, though certain industries dominate:

• Finance: Home to heavyweight banks like DBS, OCBC, and UOB, which are regional leaders.
• Real estate and REITs: Singapore is a global hub for REIT listings, giving investors exposure to commercial, retail, industrial, and hospitality assets.
• Consumer and industrial goods: From food producers to transport operators.
• Commodities and shipping: Including palm oil producers and maritime services.

Global investors are drawn to Singapore for its:

• Stable political and regulatory environment
• Strategic location in Southeast Asia
• Transparent corporate governance standards

How to evaluate Singapore stocks

Fundamental factors
 

Fundamental analysis looks at a company’s underlying financial health and performance:

• Earnings growth: Consistent revenue and profit growth can indicate long-term strength.
• Dividends: Many SGX companies, especially REITs and blue-chip stocks, offer attractive yields.
• Balance sheet health: Low debt and strong cash reserves improve resilience during downturns.

Technical factors
 

Traders often combine fundamentals with technical analysis:

• Price trends: Identifying upward or downward momentum.
• Trading volume: Higher liquidity usually means easier entry and exit.
• Volatility: Useful for short-term trading opportunities.

Macro influences
 

Singapore’s open economy means macroeconomics have a big impact:

• Interest rates: Affect borrowing costs, REIT yields, and bank margins.
• Currency movements: A stronger or weaker Singapore dollar can influence exporters and importers.
• Regional trade flows: Singapore’s role as a trade hub makes it sensitive to shifts in global demand.

Risks of trading and investing in Singapore stocks

While Singapore’s market is relatively stable, traders and investors should keep these risks in mind:

• Sector concentration: Banking and real estate dominate the index, so sector downturns can drag the market.
• Regional exposure: Many SGX-listed firms operate heavily in Asia, making them vulnerable to regional slowdowns.
• Liquidity: Some mid- and small-cap stocks trade at low volumes, which can widen bid-ask spreads and impact trade execution.

Top 5 Singapore stocks to watch

1. DBS Group Holdings (D05) - regional banking leader

Market cap: S$162.9 billion

DBS Group financial performance (FY2025): 

• Profit before tax: S$13.1 billion (+1.0% YoY)
• Net profit: S$11.0 billion (-3.0% YoY)
• Return on equity (ROE): 16.2% (down from 18.0% in FY2024)
• Net interest income (NII): S$14.5 billion (+1.0% YoY) 
• Net interest margin (NIM): 2.01% (down 12 basis points YoY) 
• Customer loans: S$445 billion (+3.0% YoY) 
• Customer deposits: S$610 billion (+9.0% YoY), the largest absolute deposit increase in the bank’s history 

Dividend payout (FY2025): Total FY2025 dividends amounted to S$3.06 per share (ordinary dividends S$2.46 per share plus capital returns S$0.60). The board had recommended a final ordinary dividend of S$0.66 and approved a capital‑return dividend of S$0.15 for Q4 2025. 

Capital and liquidity metrics: ‘Comfortably above’ regulatory requirements. 

• Liquidity coverage ratio (LCR): 155%.
• Net stable funding ratio (NSFR): 117%
• Leverage ratio: 6.2%. 
• Fully phased-in CET1 ratio: 15.0% (down from 15.1% in FY2024).

Other financial metrics: 

• Non-performing loans (NPL) ratio: 1.0% (down from 1.1% a year ago).
• Specific allowances for the year: 19 basis points (bps) of loans (up from 13bps in FY2024).
• Allowance coverage: 130% (197% including collateral). 

Trading information (28 March 2026): 

• 50-day moving average share price: S$57.55
• 200-day moving average share price: S$52.83
• Average daily trading volume (three-month): ~5.2 million shares

Analyst stock ratings and share price targets: DBS shares have a ‘buy’ call from 47% of analysts polled by FactSet, with 35% rating it as ‘hold’ and 18% rating it as ‘sell’, as of 28 March 2026. The stock also has a 12-month average share price target of S$60.04 per share, indicating a potential upside of 5%.

2. Singapore Exchange (S68) - market infrastructure provider
 

Market cap: S$20.6 billion

SGX Group financial performance (1H FY2026):

• Net profit attributable to equity holders of the company (NPAT): S$342.7 million (even YoY).
• Net revenue (operating revenue less transaction‑based expenses): S$695.4 million (+7.6% YoY).
• Earnings before interest, tax, depreciation, and amortisation (EBITDA): S$466.1 million (+9.6% YoY).
• Net revenue excluding treasury: S$636.6 million (+10.1% YoY).

Dividend payout (1H FY2026):

• Interim quarterly dividend (Q2 FY2026): S$0.11 per share (payable 24 February 2026).
• Total dividends at the end of 1H FY2026: 21.75 Singapore cents (+20.8% YoY).

Key business drivers:

• Derivatives franchise: daily average volume reached 1.35 million contracts (half‑year high), underpinning FICC and derivatives revenue.
• SGX FX: headline average daily volume rose to US$180 billion (+32.3% YoY)
• Equities cash: Securities daily average traded value (SDAV) of S$1.51 billion (+19.5% YoY) and total securities traded value of S$196.0 billion (+20.4% YoY), supported by higher retail participation and a growing IPO pipeline.

Trading information (28 March 2026):

• Price-to-earnings (P/E) ratio: 31.82 times
• Price-to-book (P/B) ratio: 9.03 times
• 50-day moving average share price: S$18.01
• 200-day moving average share price: S$16.79
• Average daily trading volume (three-month): ~3.0 million shares

Analyst stock ratings and share price targets: SGX shares have a majority ‘buy’ rating, with 56% of analysts rating it as such, based on FactSet data published on the IG Markets mobile app. Analysts also provided an average price target of S$19.00, indicating that SGX is trading around its fair value. (28 March 2026)

3. OCBC (O39) - ASEAN-focused banking

Market cap: S$96.0 billion

OCBC financial performance (FY2025):

• Profit before tax: S$9.12 billion (+2% YoY).
• Net profit: S$7.42 billion (‑2% YoY).
• ROE: 12.6% (down from 13.7% in FY2024).
• NII: S$9.15 billion (‑6% YoY).
• NIM: 1.91% (down 29 bps YoY).
• Customer loans (gross): S$341.1 billion (+9% YoY).
• Customer deposits (non‑bank): S$428.3 billion (+10% YoY)

Dividend payout: Total FY2025 dividend: S$0.99 per share (interim ordinary S$0.41 + final ordinary S$0.42 + special S$0.16), representing a 60% total payout ratio and an ordinary dividend payout ratio of 50%.

Capital and liquidity metrics:

• Transitional CET1 CAR: 16.9% (down from 17.1% in December 2024).
• Fully phased‑in CET1: 15.1% (down from 15.3% in December 2024).
• Leverage ratio: 7.1% (Dec 2025).
• All‑currency LCR (Q4 2025): 138%.
• NSFR: 114%.

Other financial metrics:

• NPL ratio: 0.9% (stable YoY).
• Total allowances: S$665 million (down by 4% YoY; credit costs 17 bps of loans compared to 19 bps a year ago).
• Total non-performing assets allowance coverage: 151% in December 2025 (down from 159% in December 2024).

Trading information (29 March 2026):

• 50-day moving average share price: S$21.04
• 200-day moving average share price: S$18.33
• Average daily trading volume (three-month): ~5.4 million shares

Analyst stock ratings and share price targets: OCBC shares have been rated ‘buy’ by 56% of analysts polled by FactSet. The stock also has an average share price target of S$22.20 per share, suggesting an upside potential of 3% over the next 12 months. (29 March 2026).

4. UOB (U11) - SME banking specialist

Market cap: S$58.5 billion

UOB financial performance (FY2025):

• Operating profit: S$7.7 billion (+4.0% YoY).
• Net profit: S$4.7 billion (‑23% YoY), largely driven by the group’s decision to set aside pre‑emptive general allowances of about S$2.0 billion in Q3 2025.
• NII: S$9.4 billion (‑3% YoY)
• NIM: 1.89% (‑14 bps YoY).
• Loan growth: +4% YoY
• Net fee income: S$2.6 billion (+7% YoY), a record driven by wealth management and loan‑related fees.

Dividend payout (FY2025):

• Interim dividend: S$0.85 per ordinary share.
• Final dividend recommended: S$0.71 per ordinary share.
• Total ordinary dividend (FY2025): S$1.56 per share, representing a payout ratio of approximately 50%; in addition, the group returned surplus capital via a special dividend of S$0.50 per share paid in two tranches during 2025.

Capital and liquidity metrics (FY2025): ‘Strong capital position’ - UOB management.

• Common CET1 ratio: 15.1% (down by 0.4% YoY)
• Tier-1 CET1 ratio: 16.1% (down by 0.5% YoY)
• Average all‑currency LCR: 143% (down 5% YoY)
• NSFR: 116% (stable YoY)

Other financial metrics:

• Total allowances (FY2025): ~S$2.0 billion (up from S$926 million in FY2024)
• NPL ratio (December 2025): 1.5% 
• NPA coverage (December 2025): 97% (down from 88% in June 2025).
• Cost discipline: total expenses down ~2% YoY, with a cost‑to‑income ratio of c.44.6% for FY25.

Trading information (29 March 2026):

• 50-day moving average share price: S$37.49
• 200-day moving average share price: S$35.82
• Average daily trading volume (three-month): ~3.4 million shares

Analyst stock ratings and share price targets: UOB shares were rated ‘neutral’ by RHB analysts, who stated that its dividends were a ‘slight miss’. DBS analysts also maintained a ‘hold’ on UOB, alongside a stock price target of S$35.70, choosing to ‘remain cautious of further deterioration in asset quality’. 

5. CapitaLand Ascendas REIT (A17U) - industrial REIT pioneer

Market cap: S$11.4 billion

CapitaLand Ascendas REIT (CLAR) financial performance (FY2025):

• Distributable income (DI): S$678.3 million (+1.4% YoY).
• Distribution per unit (DPU): 15.005 Singapore cents (against FY2024 DPU of 15.205 Singapore cents) - decline due to enlarged unit base.
• Gross revenue: S$1.54 billion (+1.0% YoY).
• Net property income (NPI): S$1.07 billion (+1.7% YoY).

Dividend payout (FY2025):

• FY2025 distribution per unit (DPU): 15.005 Singapore cents (down from 15.205 Singapore cents in FY2024)
• H2 2025 DPU: 7.528 Singapore cents (6.015 cents taxable + 0.629 cents tax-exempt + 0.884 cents capital). 
• FY2025 dividend (distribution) yield: ~6.0% (based on closing share price of S$2.47 on 31 March 2026).

Portfolio and operating metrics:

• Independent portfolio valuation: S$18.2 billion (+8.6% YoY)
• Same‑store portfolio value S$16.6 billion (+2.0% YoY).
• Number of investment properties: 226. (down from 229 in FY2024).
• Portfolio occupancy: 90.9%.
• Weight average lease expiry (WALE): 3.7 years.
• Positive average rental reversion for renewed multi‑tenant leases: +12.0%.

Capital and liquidity metrics:

• Aggregate leverage: 39.0% (as at 31 Dec 2025).
• Weighted average all‑in borrowing cost: 3.5% (FY2025)
• Proportion of fixed‑rate debt: 75.4%
• Debt maturity profile: 3.1 years; 12% of borrowings due for refinancing in 2026.
• Total green financing: ~S$3.3 billion (~44% of total borrowings).

Trading information (29 March 2026):

• P/E ratio: 17.85 times
• P/B ratio: 1.26 times
• 50-day moving average share price: S$2.70
• 200-day moving average share price: S$2.76
• Average daily trading volume (three-month): ~17.1 million shares

Analyst stock ratings and share price targets: CLAR shares have a majority rating of ‘buy’ and stock price target of S$3.20 (indicating a potential upside of nearly 30% over the 12 months), based on FactSet data published on IG Markets.

How to trade and invest in Singapore stocks with IG Singapore

CFD share trading
 

1. Create a live or demo account
2. Find an opportunity among one of our 10,000+ stocks with our  stock screener
3. Click ‘buy’ to go long or ‘sell’ to short
4. Set your position size
5. Take steps to manage your risk
6. Open and monitor your position

Investing
 

1. Open an account via IG Markets Singapore app
2. Search for Singapore-listed shares on the app
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

FAQs about Singapore stocks