Top Singapore stocks to watch in 2025

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 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$141.5 billion

Financial performance: DBS Group reported a 1% year-on-year (YoY) rise in Q2 2025 net profit to S$2.82 billion, beating analyst estimates of S$2.77 billion. Meanwhile, Q2 profit before tax rose 5% to $3.39 billion, a sign of operational resilience amid challenging market conditions.

Dividend payout: Consequently, the bank lifted its ordinary dividend by 11% from a year earlier to S$0.60 a share, alongside an additional capital return dividend of S$0.15 per share for Q2. Total first half (1H 2025) dividend payouts amounted to S$1.20 per share (ordinary) and S$0.30 per share (capital return) respectively. 

Balance sheet: DBS’ non-performing loan ratio improved from 1.1% to 1.0% during the quarter. Liquidity coverage ratio of 147% and the net stable funding ratio of 114% were both well above regulatory requirements of 100%. The reported Common Equity Tier-1 (CET1) ratio was 17.0% (transitional) and 15.1% (pro-forma).

Technical indicators: DBS shares hit an all-time high of S$51.45 in August 2025, equating to a price-to-earnings (P/E) and price-to-book (P/B) ratio of 12.67 and 2.07. The bank’s market cap was up as much as 17% this year.

Company outlook: CEO Tan Su Shan noted that while external uncertainties remained, the bank’s ‘proactive management of the balance sheet’ puts it ‘in a good position to navigate the evolving landscape’. The bank kept its full-year 2025 outlook unchanged, indicating strong fundamentals and strategic positioning.

2. Singapore Exchange (S68) - market infrastructure provider

Market cap: S$17.4 billion

Financial performance: SGX saw its full-year net profit rise 8.4% YoY to S$648 million for FY2025 (ended 30 June 2025). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in 17.9% higher than FY2024, with earnings per share (EPS) at S$0.61 (up from S$0.57 the year before). 

Dividend payout: SGX proposed a final quarterly dividend of 10.5 Singapore cents per share for Q4 2025, equivalent to a YoY increase of 16.7%. If approved, total FY2025 dividends will increase 8.7% to 37.5 Singapore cents.

Balance sheet: Net assets across the group at the end of FY2025 stood at S$2.2 billion, up from S$1.96 billion the year before. Cash and cash equivalents of the group was S$1.13 billion, up from S$998 million in FY2024. Group net asset value rose to S$2.06 per ordinary share, up from S$1.83 in FY2024.

Technical indicators: SGX’s share price rallied by as much as 30% this year, with its latest P/E ratio at 26.87 and P/B ratio at 7.87. 

Company outlook: Group management said it will invest in key strategic areas in FY2026, including capability building and technology enhancements. Expenses are on track to increase by 4% to 6%. Capital expenditure is expected to increase to S$90 million to S$95 million (against FY 2025’s S$67.6 million).

3. OCBC Bank (O39) - ASEAN-focused banking

Market cap: S$75.3 billion

Financial performance: Net profit at OCBC fell 7% in Q2 2025 compared with a year ago, reaching S$1.82 billion. It was also 4% below the previous quarter. Net interest income was 6% lower from the previous year, as net interest margin narrowed by 28 basis points.

Dividend payout: An interim ordinary dividend of S$0.41 was declared in 1H 2025 (down from S$0.44 a year ago), equating to a payout ratio of 50% of the group’s first-half net profit. Dividend yield stood at around 4.9% as of August 2025. 

Balance sheet: NPL ratio was unchanged from the previous year at 0.9%. Allowance coverage for total non-performing assets (NPAs) was 1% higher YoY at 156%. Group CET1 ratio as of 30 June 2025 was 17.0% (transitional) and 15.3% (pro-forma), down from 17.6% and 15.5% respectively in March 2025. 

Technical indicators: OCBC shares traded at around S$17 in August 2025 with P/E and P/B ratio at 10.36 and 1.24. 

Company outlook: Outlook ahead remains challenging, with evolving trade and monetary policies, and geopolitical tensions expected to weigh on growth prospects, OCBC CEO Helen Wong said in the group’s Q2 earnings. 

4. UOB (U11) - SME banking specialist

Market cap: S$58.4 billion

Financial performance: UOB posted a 6% YoY drop in net profit to S$1.34 billion, missing analyst expectations of S$1.47 billion for Q2 2025. For the first half of 2025, UOB recorded a 3% decline in net profit, totalling S$2.83 billion. Total income, however, grew 2% year-on-year to S$7.12 billion despite margin pressures.

Dividend payout: An interim dividend of S$0.85 per ordinary share was declared in the first half of 2025 (down from S$0.88 in 1H 2024). This equates to a 50% payout ratio of net profit. Dividend yield stood at around 5.1% in August 2025. 

Balance sheet: NPL ratio rose 0.1% YoY to 1.6%, while NPA coverage stood at 88% (secured) and 209% (unsecured – including collateral). CET1 ratio rose 1.9% YoY to 15.3% in Q2 2025 following payout of 2024 final and special dividends.

Technical indicators: UOB shares were down as much 15% this year, but erased the decline to around 5% by the third quarter. P/E and P/B ratio stood at 9.95 and 1.15 in August 2025.

Company outlook: Wee Ee Cheong, Deputy Chairman and CEO, said he is ‘confident in the region’s long-term prospects, anchored by sound fundamentals’. He added that UOB is ‘progressing well’ in reshaping its business model ‘towards a more diversified and fee-driven revenue mix’.

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

Market cap: S$12.4 billion

Financial performance: CapitaLand Ascendas REIT (CLAR) saw net profit fall by 0.9% YoY to S$523.4 million in 1H 2025, while distributable income increased by 0.1% YoY to S$331.1 million. As of 30 June 2025, CLAR’s investment properties under management stood at S$16.8 billion, comprising 229 properties across three segments.

Dividend payout: Distribution per unit (DPU) fell by 0.6% YoY to 7.477 Singapore cents in 1H 2025. Dividend (or distribution) yield was at 4.8% in August 2025.

Balance sheet: The REIT’s aggregate leverage stood at a ‘healthy’ 37.4% as of 30 June 2025 (as compared to 38.9% on 31 March 2025) following the successful equity fund raising of S$500 million in May 2025. Additionally, its interest coverage ratio (ICR) was 3.7 times, well above the statutory limit of 1.5 times.

Technical indicators: CLAR shares rose as much as 10% in 2025. Analyst consensus targets average at $3.345, representing an upside potential of 23.9% as of August 2025. P/E ratio stood at 16.79 while P/B ratio was at 1.19.

Company outlook: Citing International Monetary Fund’s April 2025 report, the REIT alluded to ‘downside risks’ potentially ‘dominating the outlook’. ‘There remain significant uncertainties surrounding global trade dynamics, inflation trends and monetary policies of major central banks,’ it added in its 1H 2025 earnings release.

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