Sectors to Watch if GE2025 Shifts the Balance: What Policy Signals Mean for Markets

16 Apr 2025

As Singapore heads to the polls on 3 May for General Election 2025, investors are focusing not only on the political outcome — but also on how policy signals might ripple through the stock market.

Whether the incumbent retains dominance or the opposition gains ground, the market may respond based on anticipated changes to key areas like housing, digitalisation, sustainability, and social welfare. Here’s a look at sectors and SiMSCI stocks that could be affected.

1. Housing & Construction

If policies favour increased public housing supply and infrastructure spending, developers and contractors may see renewed demand.

SiMSCI Stocks to Watch:

CapitaLand Investment – major player in real estate investment and development.
City Developments Ltd (CDL) – one of Singapore’s largest private residential developers.

Policy attention on housing affordability could translate into increased project flows and investor confidence in the property sector.

2. Digital Economy & Tech Enablement

Greater focus on digital transformation and tech upskilling — particularly for SMEs — may support companies exposed to innovation and connectivity.

SiMSCI Stock to Watch:

Singapore Telecommunications (Singtel) – key enabler of digital infrastructure, 5G, and enterprise solutions.

If the government signals more support for digitalisation and cybersecurity, Singtel could benefit from both public and enterprise spending.

3. Sustainability & Green Energy

Green economy goals are expected to remain core to national development. Firms focused on energy transition, decarbonisation, and ESG-aligned assets may gain traction.

SiMSCI Stocks to Watch:

Keppel Ltd. – transitioning toward sustainable infrastructure and energy solutions.
Sembcorp Industries – actively growing its renewable energy portfolio.

Clearer policies or incentives around clean energy and green financing could drive investor interest in these stocks.

4. Consumer & Healthcare

Social safety nets, inflation relief, and healthcare accessibility could see greater emphasis depending on the election outcome, potentially lifting retail and medical service providers.

SiMSCI Stocks to Watch:

DFI Retail Group Holdings – operates grocery and pharmacy chains in the region.
Raffles Medical Group – integrated healthcare provider with local and regional presence.

Increased domestic demand or health policy support may bolster these counters post-election.

5. E-Commerce & Tech Services

Digital economy players stand to benefit from pro-innovation policies, support for fintech adoption, and the ongoing shift toward online platforms.

SiMSCI Stocks to Watch:

Grab Holdings – Southeast Asia’s super app, with core businesses in ride-hailing, food delivery, and digital payments (GrabPay).
Sea Ltd ADR – leading e-commerce platform via Shopee, with growing fintech and gaming arms.

Supportive policies for the gig economy, cashless payments, and cross-border digital trade could boost investor confidence in these regional tech giants.

What’s Next?

Markets respond to clarity — and GE2025 could offer plenty. Stay nimble and tuned in as sectors move in anticipation of post-election policies.

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16 Apr 2025

By Eric Lee, Sales Director, Phillip Nova UOL Group Ltd is beginning to draw renewed investor interest—and rightly so. Recent developments suggest a compelling case

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Sectors to Watch if GE2025 Shifts the Balance: What Policy Signals Mean for Markets

1. Housing & Construction

2. Digital Economy & Tech Enablement

3. Sustainability & Green Energy

4. Consumer & Healthcare

5. E-Commerce & Tech Services

What’s Next?

Trade Stocks, ETFs, Forex & Futures on Phillip Nova

Features of trading on Phillip Nova

Why should I trade in ETF CFDs?

A look at two ETF CFDs we offer:

1) Has the ARKK been sunk?

2) Searching for exposure to Asian equities?

CFD is available for trading on Phillip MetaTrader 5 (MT5).

Register for a FREE 30-day Phillip MetaTrader 5 Demo Account

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