We are going to break down the whole survey released by OCBC recently that caused quite a hoo-ha in Singapore.
Instead of looking at the Straits Times article, we will be looking straight at the source: the OCBC Survey.

Survey Demographics

The survey was conducted mid-May, 1.5 months into the Circuit Breaker period.

Reducing Investments

“40% saying they (the respondents) intend to reduce their investments.”

The survey didn’t go into detail why the respondents were reducing their investments (could be to buy a new car, pay for child’s education, etc.).
But, 54% of the respondents did say they were worried about their portfolio, so it is safe to assume they probably are reducing their investments because they are worried their portfolio value might drop.

Everyone has different cashflow and financial needs to meet, hence it is normal to reduce their portfolio.
However, if one is reducing their portfolio to get cash to pay for their daily expenses during crises