Broker: iFAST Financial Pte Ltd
Date of Report: 7 July 2026
Excerpt from iFAST Financial Pte Ltd report.
Report Summary
- Key Actionable Insights:
- Positive outlook maintained on Singapore equities. iFAST recommends continued exposure to Singapore’s equity market, citing strengthening liquidity, institutional inflows, and supportive reforms.
- SMID (Small- & Mid-cap) stocks are showing robust growth in liquidity and institutional interest, especially those exposed to the AI supply chain (notably in semiconductor and technology sectors such as AEM, UMS Integration, Frencken Group).
- Large cap blue-chips benefit from upcoming board lot reforms reducing minimum investment size and new custody rules enhancing accessibility for both retail and institutional investors.
- Actionable ETF Recommendations:
- Amova Singapore STI ETF (SGX: G3B): For cost-efficient blue-chip exposure.
- iFAST-Amova Singapore Equity A SGD: For broader exposure to both blue-chips and high-quality SMIDs with structural AI growth potential.
- Key Implications:
- Liquidity in SMIDs has increased 83% year-on-year, outpacing share price gains and indicating deepening market participation.
- Board lot size reduction (from 100 to 10 shares for high-priced stocks) and post-trade custody reforms are expected to further boost accessibility and drive participation, particularly for stocks like DBS, OCBC, UOB, Keppel, and SGX.
- Policy support and the continued rollout of the Equity Market Development Programme (EQDP) and GEMS scheme are seen as sustaining positive momentum across both SMID and large-cap segments.
- Target Prices:
- No specific target prices are provided for individual stocks in this report. The actionable focus is on ETF exposure (SGX: G3B and iFAST-Amova Singapore Equity A SGD).
Above is an excerpt from a report by iFAST Financial Pte Ltd. Clients of iFAST Financial Pte Ltd can access the full research report from the broker’s website.
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