Singapore’s stock market is heading into 2026 with momentum—and plenty of investors are asking the same question: what are the best stocks to buy now on the SGX (Singapore Exchange)?
As of 12 December 2025, the Straits Times Index (STI) is holding near multi-year highs, closing at 4,573.44 on 12 Dec (per historical market data), after a strong 2025 run. [1] This comes as global markets react to the U.S. Federal Reserve’s latest 25 bp rate cut and shifting expectations for additional easing into 2026—an important backdrop for Singapore banks, REITs, and high-dividend blue chips. [2]
Below is a news-driven, analyst-backed list of Singapore stocks that stand out right now—based on the most current research notes, corporate developments, and sector calls available around 12.12.2025.
Important: This article is for information only and does not consider your personal financial situation or risk tolerance. Stocks can fall as well as rise. Consider professional advice where appropriate.
What’s moving the Singapore stock market on 12.12.2025
1) A rate-cut tailwind is back in focus—especially for REITs and property
The Fed’s latest cut has revived the classic market rotation: rate-cut beneficiaries (REITs, property, yield plays) tend to attract fresh interest, while banks can face a tougher setup if net interest margins compress. DBS Research explicitly flags this push-pull going into 2026, noting that swings in rate-cut expectations can create volatility—and opportunities—across Singapore sectors. [3]
2) Singapore’s “safe-haven” premium—and equity-market reforms—are drawing flows
DBS Research points to robust inflows into Singapore equities in 2025, reinforcing the “safe-haven” narrative and supporting valuations through a volatile global cycle. [4]
Meanwhile, market-structure initiatives (including MAS’ equity-market development efforts and “value unlock” programs referenced by strategists) are part of what’s keeping attention on Singapore into 2026. [5]
3) Analysts have published clear index-level forecasts for 2026
In a 2026 outlook note dated 11 Dec 2025, DBS Research set an STI end-2026 target of 4,880, framing it as a year of “more moderate gains” after 2025’s rerating, supported by FY26 earnings growth and a still-attractive forecast dividend yield for the index. [6]
A practical “best stocks to buy now” framework for Singapore investors
Instead of chasing hype, many professional portfolios in Singapore are being built around three buckets:
- Core blue-chip compounders (banks, SGX, telcos)
- Rate-cut and refinancing beneficiaries (REITs, real estate owners)
- Cyclical/strategic catalysts (industrial wins, renewables, restructuring)
That structure aligns closely with what DBS Research says it’s positioning for into 2026, including “secular large-cap winners,” recovery names, and resilient yield plays. [7]
Best stocks to buy now in Singapore: 12 SGX names with catalysts (as of 12.12.2025)
1) OCBC Bank (SGX: O39) — “quality + valuation” bank exposure
Why it’s in focus now: OCBC continues to benefit from Singapore’s “quality financial hub” positioning and the market’s ongoing preference for resilient, dividend-paying banks. DBS Research includes OCBC in its top STI picks for 2026. [8]
What analysts are watching: A key debate into 2026 is how fast margins normalize as rates ease—but OCBC has also been highlighted for strength in wealth-related earnings drivers in recent coverage and upgrades. [9]
Key risk: Faster-than-expected margin compression or credit shocks.
2) Singapore Exchange (SGX: S68) — a “market reform + activity” lever
Why it’s in focus now: If Singapore’s listing pipeline and trading participation continue improving, SGX is a direct beneficiary. DBS Research includes SGX among its 2026 picks. [10]
Supportive backdrop: Business Times reporting points to market initiatives in 2025 aimed at strengthening SGX competitiveness and listings. [11]
Key risk: A global risk-off spell can hit volumes and IPO sentiment.
3) Singtel (SGX: Z74) — digital infrastructure with a headline-risk reminder
Why it’s in focus now: DBS Research tags Singtel as a “key infrastructure play” tied to Singapore’s digitalisation push and includes it in top picks. [12]
What changed this week: Singtel was hit with a S$1 million IMDA fine tied to a 2024 voice disruption, a reminder that operational resilience and regulatory scrutiny remain material. [13]
Key risk: Execution risk in networks and reputational/regulatory events.
4) Keppel REIT (SGX: K71U) — office-cycle upside + funding-cost sensitivity
Why it’s in focus now: DBS and Morningstar both flagged Keppel REIT as a top pick in the office REIT space, with the thesis tied to CBD fundamentals and the rate pivot lowering financing pressure. [14]
Major catalyst: Keppel REIT is buying an additional one-third stake in MBFC Tower 3 for S$1.45 billion, funding it partly via a large equity raise—important for DPU math and leverage. [15]
Key risk: Dilution and deal execution; office demand surprises.
5) CapitaLand Integrated Commercial Trust (SGX: C38U) — large, liquid “core REIT”
Why it’s in focus now: DBS lists CICT among its 2026 top STI picks under the “Real estate” bucket. [16]
Sector setup: As borrowing costs stabilize or fall, large, diversified REITs can regain investor interest—especially where balance sheets and tenant demand remain steady. [17]
Key risk: If rates re-accelerate higher, REIT valuations can re-rate down again.
6) CapitaLand Ascendas REIT (SGX: A17U) — industrial/logistics + data-centre adjacency
Why it’s in focus now: DBS includes CapitaLand Ascendas REIT as a 2026 pick, fitting the “income + resilience” sleeve many investors want in Singapore. [18]
Strategic signal: Ascendas REIT has been active in portfolio moves (including acquisitions in 2025), reflecting long-term positioning around logistics and digital demand. [19]
Key risk: Industrial supply cycles and tenant concentration.
7) Mapletree Logistics Trust (SGX: M44U) — “trade & connectivity” income play
Why it’s in focus now: MLT is included in DBS Research’s top 2026 picks, specifically under “Trade & connectivity.” [20]
Portfolio context: DBS’ Singapore Equity Picks commentary also notes it “trimmed” MLT to rebalance weights—useful color on how strategists are sizing exposure rather than abandoning the theme. [21]
Key risk: Regional trade weakness, currency effects, refinancing.
8) UOL Group (SGX: U14) — property “value-unlock” thesis gaining traction
Why it’s in focus now: DBS includes UOL in its 2026 large-cap picks list—and separately, DBS Research raised its target price for UOL while keeping a “buy” stance, citing a lower-rate environment and possible restructuring/value-unlock actions by developers. [22]
What to watch: Capital recycling, redevelopment catalysts, and dividend/capital efficiency decisions. [23]
Key risk: Property-cycle slowdowns and execution risk on major redevelopments.
9) City Developments Limited (CDL) (SGX: C09) — rerating potential if capital actions land
Why it’s in focus now: DBS Research lifted CDL’s target price and maintained a “buy,” explicitly linking the setup to lower rates and the possibility of developers structurally boosting returns through REIT spin-offs or stapled structures. [24]
Key risk: Residential sentiment shifts and balance sheet constraints.
10) GuocoLand (SGX: F17) — a direct “value unlocking” beneficiary candidate
Why it’s in focus now: DBS Research raised GuocoLand’s target price and kept a “buy,” while DBS’ 2026 strategy note also points to GuocoLand among small/mid-cap ideas focused on value unlocking. [25]
Key risk: Asset monetisation timing and property market volatility.
11) Sembcorp Industries (SGX: U96) — big acquisition, big debate
Why it’s in focus now: Sembcorp announced it will acquire Australia’s Alinta Energy at an enterprise value of A$6.5 billion, a major strategic shift that could reshape earnings and geographic exposure. [26]
Bull vs bear debate: Broker commentary described the deal as potentially earnings-accretive, while also warning it could complicate decarbonisation targets due to coal exposure inside the acquired assets. [27]
Key risk: Integration, leverage, and ESG-related investor pushback.
12) Seatrium (SGX: 5E2) — order-flow story tied to energy infrastructure
Why it’s in focus now: DBS lists Seatrium among its top picks for “Trade & connectivity,” and the company continues to land large contracts. [28]
Fresh catalyst: A Seatrium–GE Vernova consortium won a contract with TenneT related to connecting North Sea wind power to Germany’s grid—supporting the order book narrative into 2026. [29]
Key risk: Project execution risk, cost overruns, and cyclical capex swings.
Higher-risk “satellite” ideas analysts are watching (small/mid-cap and yield)
If you want ideas beyond the usual STI heavyweights, DBS’ 12 Dec 2025 equity-picks commentary highlights several SMC (small/mid-cap) names tied to “earnings growth/recovery,” plus a set of resilient income picks. This includes names such as iFAST, UMS Integration, Nam Cheong, SIA Engineering, and high-yield infrastructure/REIT exposure like NetLink and selected REITs. [30]
These can offer upside, but typically come with higher volatility, lower liquidity, and greater single-stock risk than the largest blue chips.
2026 outlook: what could help—or hurt—Singapore stocks next
Base-case positives investors are pricing in
- Singapore remains relatively attractive on yield and valuation metrics, with strategists pointing to dividend support and resilience during risk-off periods. [31]
- Equity-market initiatives (liquidity support, listings, “value unlock” efforts) continue to be positioned as multi-year tailwinds. [32]
- DBS Research’s STI 4,880 end-2026 target implies moderate upside rather than a straight-line rally, consistent with a “buy quality on dips” mindset. [33]
Key risks to take seriously
- Tariffs and tech-cycle risks: DBS flags “tariffs and the tech cycle” as key downside variables for Singapore’s 2026 growth, including sensitivity for certain electronics exposures. [34]
- Interest-rate path uncertainty: markets are still debating how many cuts the Fed delivers in 2026, and that matters for REIT valuations and bank margins. [35]
- Company-specific capital actions (rights issues, acquisitions) that can change per-share outcomes—e.g., REIT fundraisings or major M&A like Sembcorp’s. [36]
How to use this list (without turning it into a gamble)
If you’re building positions “now” (Dec 2025), many long-term investors use a disciplined approach:
- Stagger entries (avoid all-in timing risk)
- Diversify across buckets (banks + REITs + one or two cyclical catalysts)
- Track the two big macro swing factors: Fed path + growth/tariff headlines
- Read the filings before acting on a deal-driven stock (rights issues and acquisitions can change the story quickly)
Bottom line: the best Singapore stocks to buy now depend on the theme you want exposure to
As of 12 December 2025, the strongest “best stocks to buy now” candidates on Singapore’s market aren’t coming from a single sector—they’re coming from clear themes:
- Core quality & market-structure upside: OCBC, SGX, Singtel [37]
- Rate-cut beneficiaries & income: Keppel REIT, CICT, CLAR, MLT [38]
- Value-unlock in real estate owners: UOL, CDL, GuocoLand [39]
- Strategic catalysts in industrial/energy transition: Seatrium, Sembcorp [40]
References
1. finance.yahoo.com, 2. www.reuters.com, 3. www.dbs.com, 4. www.dbs.com, 5. www.ocbc.com, 6. www.dbs.com, 7. www.dbs.com.sg, 8. www.dbs.com, 9. www.straitstimes.com, 10. www.dbs.com, 11. www.businesstimes.com.sg, 12. www.dbs.com, 13. www.businesstimes.com.sg, 14. www.businesstimes.com.sg, 15. www.businesstimes.com.sg, 16. www.dbs.com, 17. www.dbs.com, 18. www.dbs.com, 19. www.reuters.com, 20. www.dbs.com, 21. www.dbs.com.sg, 22. www.dbs.com, 23. www.businesstimes.com.sg, 24. www.businesstimes.com.sg, 25. www.businesstimes.com.sg, 26. www.businesstimes.com.sg, 27. www.businesstimes.com.sg, 28. www.dbs.com, 29. www.businesstimes.com.sg, 30. www.dbs.com.sg, 31. www.dbs.com, 32. www.businesstimes.com.sg, 33. www.dbs.com, 34. www.dbs.com, 35. www.reuters.com, 36. www.businesstimes.com.sg, 37. www.dbs.com, 38. www.businesstimes.com.sg, 39. www.businesstimes.com.sg, 40. www.businesstimes.com.sg
