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Different investors can share the same bullish view — but choose different ways to express it.
You believe the Singapore market may continue moving higher. Perhaps you’re optimistic about local bank earnings, improving regional trade, supportive policy developments or broader economic conditions.
The question isn’t whether you have a bullish view. It’s how different investors commonly choose to express that view.
There is no single “best” instrument. The right approach depends on factors such as your investment objective, holding period, risk tolerance and familiarity with different products. This article introduces some of the products investors commonly research when they have a positive short-term view on the Singapore market.
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You may also be interested in reading: You Think the Singapore Market Will Fall. What Are Your Options?
What Do We Mean by "The Singapore Market"?
Most of the products in this article are linked to one of two closely related indices.
The Straits Times Index (STI) tracks 30 of the largest and most liquid companies listed on the Singapore Exchange, selected to represent key sectors of the Singapore economy. It is the country’s most widely recognised equity benchmark and is reviewed periodically to ensure it reflects the investable large-cap market.
The MSCI Singapore Index (SiMSCI) is a broader, free float-adjusted index that includes large- and mid-cap Singapore-listed companies, covering approximately 85% of Singapore’s total equity market capitalisation. It is designed to represent the overall Singapore equity market more comprehensively and serves as the underlying benchmark for SiMSCI Futures, the SG100 CFD, and Phillip Nova’s LSS.
Although constructed differently, both indices are influenced by many of the same market drivers, including:
- Monetary Authority of Singapore (MAS) policy
- Bank earnings
- REIT performance
- Regional trade
- Global macroeconomic sentiment
Different Investors Take Different Approaches
A bullish market outlook doesn’t automatically lead every investor to the same product. Some prefer owning individual companies. Others want diversified market exposure. Some look for leverage. Others prefer exchange-traded products without margin mechanics.
Below are several approaches investors commonly research.
Investors commonly research this when…
They have conviction in a particular company rather than the market as a whole.
Examples include DBS, OCBC, UOB, Singtel or individual S-REITs.
Things to understand
- Exposure is company-specific rather than index-wide
- Performance depends on both the overall market and company-specific developments
- Suitable holding periods vary from short-term trading to long-term investing
Investors commonly research this when…
They want diversified exposure to Singapore’s largest listed companies without selecting individual stocks.
Things to understand
- Tracks the broader market rather than individual companies
- Trades on SGX like a stock
- Commonly used for medium- to long-term market exposure
Investors commonly research this when…
They want leveraged exposure to the Singapore market and are comfortable trading futures.
Things to understand
- Tracks the MSCI Singapore Index
- Uses a margin-based structure
- Contracts expire and may require rollover
- Requires a Customer Account Review (CAR) on NOVA
Investors commonly research this when…
They want leveraged exposure to the Singapore market without managing futures expiry.
Things to understand
- Tracks Phillip Nova’s SG100 index based on the MSCI Singapore Index
- No contract expiry
- Margin calls and overnight financing charges may apply
- Requires a Customer Knowledge Assessment (CKA) on NOVA
- Listed on SGX
- No expiry
- No margin account required
- Designed around a daily investment objective, meaning returns over periods longer than one day may differ from simply applying 2× to the index’s cumulative return
- Classified as a Specified Investment Product (SIP)
Learn more about LSS: L&I Products Tied to the Singapore Market: LSS and SSS
Comparing the Bullish Approaches
产品 | Commonly researched by investors when… |
新加坡股票 | They want to express their market view through one or a few Singapore-listed companies. |
海指ETF | They prefer broad exposure to Singapore’s largest listed companies through a single investment. |
SiMSCI Futures | They want capital-efficient exposure to the broader Singapore market and are comfortable managing margin requirements and contract expiry. |
SG100 CFD | They want leveraged exposure to the broader Singapore market without managing futures expiry, and are comfortable trading on margin. |
LSS Leveraged Product | They want an exchange-traded product designed to deliver twice the daily performance of the MSCI Singapore Index, without using a margin account. |
One Market. Different Ways to Express a Bullish View.
The same positive outlook on the Singapore market can lead different investors to different products. Some prioritise ownership. Some prioritise diversification. Others prioritise leverage or exchange-traded accessibility.
Understanding these differences is often more valuable than focusing on any single product.
You may also be interested in reading: You Think the Singapore Market Will Fall. What Are Your Options?
Find Singapore stocks, STI ETF, SiMSCI futures, SG100 CFD, and LSS on NOVA, open an account today.
