Outrageous Predictions
Executive Summary: Outrageous Predictions 2026
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Saxo Investor Forecast - Singapore
Client Report
Saxo
Summary: How Singapore investors view markets, diversification, and key macro themes for the coming half-year
Singapore investors enter the next six months with a broadly optimistic outlook across all major markets, led by a particularly strong top-down view on the global market and very high confidence in the Singaporean and Japanese markets. Diversification plans show more expansion than the global average, and macro sensitivities are elevated on AI opportunities, AI-related concerns, growth optimism, and market overvaluation.
General optimism on market performance, with global, Singapore, and Japan standing out
In the first line of questions, we asked our clients whether they believe that the five equity markets—the Singapore market (STI), the US market, the European market, the Japanese market, and the global market—would 1) increase, 2) decrease, or show 3) no movement in value over the next half-year.
Confidence is broad-based in Singapore. For the global market, 86% expect an increase, far above the global reading. The Singapore market also attracts strong conviction, with 79% expecting gains versus a lower global benchmark. Japan is similarly upbeat at 78%, exceeding the global figure by a clear margin. The US (64% increase) and Europe (62% increase) round out a positive picture; both sit notably above the global averages, though not to the same extent as the global, Singapore, and Japanese markets.
Taken together, Singapore investors display one of the most optimistic profiles in the series—led by an exceptionally strong top-down view and reinforced by Singapore and Japan conviction.
Gender and age differences
Optimism is high across age groups for the Singapore market (roughly mid-70s to low-80s selecting “increase”), and remains elevated for Europe, Japan, and the global market. For the US, increase expectations are lower among the youngest cohort and rise through mid-career to older investors. By gender, men are slightly more likely than women to select ‘increase’ on the US, Japan, and global markets. Women, however, are not more neutral on the US market—instead, they are significantly more likely than men to select ‘decrease.’
Overall, demographics add nuance but do not dilute the core signal: Singapore’s optimism is broad, consistent, and strong across markets.
More Singapore investors plan to add new areas than globally; fewer plan to cut exposure
We’ve asked our client base whether they are most likely to invest in the same, new, or fewer regions, sectors, or asset classes than today.
Singapore shows a more expansionary profile than the global picture. 59% plan to invest in the same areas (vs 63% globally), 33% intend to add new areas (vs 27% globally), and 8% expect to invest in fewer areas (vs 10% globally). In other words, investors are slightly less likely than the global sample to remain unchanged and more likely to broaden exposure, while fewer anticipate trimming.
Together, these results point to a constructive stance on diversification—steadiness as the base case, paired with a stronger-than-average appetite to add new exposures.
Gender and age differences
Women are more likely than men to plan changes (higher “new” and similar to lower “fewer”), while men lean a touch more toward “same.” Across ages, the share selecting same is highest among the youngest cohort and declines modestly with age, while new rises for older groups.
In sum, diversification is anchored by continuity but skews more expansionary than global, with women and older cohorts contributing to the tilt toward adding new areas.
Macro themes: AI opportunity and concern are elevated; growth optimism and overvaluation are high
As the final part of this investor forecast, we asked our clients whether they were considering altering their investment strategy based on:
- Trump’s policy impacts
- European defence needs
- AI-driven opportunities
- AI-related concerns
- Growth optimism
- Reconsidering if the market is overvalued
Technology-related themes are prominent in Singapore. AI-driven opportunities attract a higher than global “yes” share (64%), and AI-related concerns are likewise elevated (63%). Growth optimism registers strongly (68% vs globally mid-50s), and market overvaluation is high at 80%—among the top readings in the country set. By comparison, Trump’s policy impacts (61%) sit modestly above the global figure, while European defence needs (43%) sit below it.
Altogether, Singapore couples a strong opportunity mindset—especially around AI and growth—with a disciplined focus on valuation risks, while policy and defence play secondary roles.
Gender and age differences
Women are more likely than men to say Trump’s policy impacts and AI-related concerns may influence strategy, while men record higher “yes” on AI-driven opportunities and growth optimism. By age, market optimism (especially global) is very high across cohorts; the US and Europe show a slightly more graduated pattern, with stronger increases among older groups.
In sum, Singapore’s macro profile blends technology-led opportunity with prudent risk awareness, consistent across demographic splits.
About the survey
The survey was undertaken from 6 February to 1 March 2026. As such, most replies were collected prior to the US and Israel attacks on Iran on 28 February 2026 and thus do not include any considerations about the added uncertainty caused by this conflict, which in many instances may have altered sentiment. The survey asked investors to look at their perception of the financial markets in the six months from 1 April to 30 September. The survey was answered by 78 clients in Singapore.
See the full list of replies below
How do you think the following equity markets will perform in the coming half-year?
Singapore market (STI)
| Segment | Increase | No movement | Decrease |
|---|---|---|---|
| All responses | 79.0% | 19.4% | 1.6% |
| Male | 79.6% | 18.5% | 1.9% |
| Female | 80.0% | 20.0% | 0.0% |
| Age 18–35 | 75.0% | 25.0% | 0.0% |
| Age 36–60 | 78.6% | 19.0% | 2.4% |
| Age 61+ | 83.3% | 16.7% | 0.0% |
US market
| Segment | Increase | No movement | Decrease |
|---|---|---|---|
| All responses | 63.8% | 13.0% | 23.2% |
| Male | 66.7% | 13.3% | 20.0% |
| Female | 60.0% | 0.0% | 40.0% |
| Age 18–35 | 50.0% | 37.5% | 12.5% |
| Age 36–60 | 66.0% | 12.8% | 21.3% |
| Age 61+ | 64.3% | 0.0% | 35.7% |
European market
| Segment | Increase | No movement | Decrease |
|---|---|---|---|
| All responses | 62.5% | 21.9% | 15.6% |
| Male | 60.7% | 23.2% | 16.1% |
| Female | 80.0% | 20.0% | 0.0% |
| Age 18–35 | 85.7% | 0.0% | 14.3% |
| Age 36–60 | 67.4% | 20.9% | 11.6% |
| Age 61+ | 35.7% | 35.7% | 28.6% |
Japanese market
| Segment | Increase | No movement | Decrease |
|---|---|---|---|
| All responses | 78.1% | 10.9% | 10.9% |
| Male | 81.8% | 5.5% | 12.7% |
| Female | 60.0% | 40.0% | 0.0% |
| Age 18–35 | 85.7% | 0.0% | 14.3% |
| Age 36–60 | 79.1% | 11.6% | 9.3% |
| Age 61+ | 71.4% | 14.3% | 14.3% |
Global market
| Segment | Increase | No movement | Decrease |
|---|---|---|---|
| All responses | 85.7% | 7.1% | 7.1% |
| Male | 84.1% | 7.9% | 7.9% |
| Female | 100.0% | 0.0% | 0.0% |
| Age 18–35 | 85.7% | 0.0% | 14.3% |
| Age 36–60 | 87.8% | 8.2% | 4.1% |
| Age 61+ | 78.6% | 7.1% | 14.3% |
Which of the following statements do you think is most realistic for your investment strategy in the coming half-year?
Diversification
| Segment | Same | New | Fewer |
|---|---|---|---|
| All responses | 59.0% | 33.3% | 7.7% |
| Male | 59.4% | 31.9% | 8.7% |
| Female | 40.0% | 60.0% | 0.0% |
| Age 18–35 | 88.9% | 11.1% | 0.0% |
| Age 36–60 | 59.3% | 31.5% | 9.3% |
| Age 61+ | 40.0% | 53.3% | 6.7% |
Are you planning to alter your investment strategy based on the following themes or events?
Trump’s policy impacts
| Segment | Yes | No |
|---|---|---|
| All responses | 60.6% | 39.4% |
| Male | 57.8% | 42.2% |
| Female | 100.0% | 0.0% |
| Age 18–35 | 42.9% | 57.1% |
| Age 36–60 | 61.2% | 38.8% |
| Age 61+ | 66.7% | 33.3% |
European defence needs
| Segment | Yes | No |
|---|---|---|
| All responses | 42.9% | 57.1% |
| Male | 58.7% | 41.3% |
| Female | 50.0% | 50.0% |
| Age 18–35 | 25.0% | 75.0% |
| Age 36–60 | 45.8% | 54.2% |
| Age 61+ | 42.9% | 57.1% |
AI-driven opportunities
| Segment | Yes | No |
|---|---|---|
| All responses | 63.9% | 36.1% |
| Male | 64.1% | 35.9% |
| Female | 60.0% | 40.0% |
| Age 18–35 | 33.3% | 66.7% |
| Age 36–60 | 73.5% | 26.5% |
| Age 61+ | 50.0% | 50.0% |
AI-related concerns
| Segment | Yes | No |
|---|---|---|
| All responses | 62.7% | 37.3% |
| Male | 62.1% | 37.9% |
| Female | 80.0% | 20.0% |
| Age 18–35 | 66.7% | 33.3% |
| Age 36–60 | 66.7% | 33.3% |
| Age 61+ | 46.7% | 53.3% |
Growth optimism
| Segment | Yes | No |
|---|---|---|
| All responses | 67.7% | 32.3% |
| Male | 68.9% | 31.1% |
| Female | 50.0% | 50.0% |
| Age 18–35 | 75.0% | 25.0% |
| Age 36–60 | 67.4% | 32.6% |
| Age 61+ | 64.3% | 35.7% |
Reconsidering if markets are overvalued
| Segment | Yes | No |
|---|---|---|
| All responses | 79.7% | 20.3% |
| Male | 80.3% | 19.7% |
| Female | 75.0% | 25.0% |
| Age 18–35 | 100.0% | 0.0% |
| Age 36–60 | 73.5% | 26.5% |
| Age 61+ | 90.9% | 9.1% |
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