S’pore named preferred ASEAN equity market amidst $2b support package

The latest $900m tranche supports households and SMEs.

Singapore remains the preferred equity market in the ASEAN regional regrouping due to stronger-than-expected economic performance and government capacity to provide further fiscal support, said RBC Wealth Management (RBC WM).

This comes as the city-state nearly doubles its fiscal support package to about $2b to help manage higher costs linked to the prolonged Middle East conflict and supply-chain disruptions.

“Smaller firms are experiencing sharper cost pressures from high freight costs, logistics expenses, and the stronger Singapore dollar, making it difficult to pass costs on to customers,” RBC WM said.

The government’s latest $900m tranche includes cash subsidies for households, as well as cash grants and rental support for small and medium enterprises.

The report also cited higher food and transport costs resulting from disruptions to energy and commodity shipments.

Electricity tariffs increased by a record 17% during the month, whilst inflation is expected to remain elevated through mid-2027, based on a Monetary Authority of Singapore forecast.

Economists said the government had significant fiscal capacity to provide additional support if needed, given its $8.5b budget surplus, RBC WM added.

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