Is this a new dawn for Singapore? Or the beginning of the end for Singapore? What does it mean for Singapore stocks? Or properties? Or just investment into the little red dot in general? These are investors’ questions.
Yesterday, we saw the results of Singapore’s 13th election and the first held without any public rallies due to COVID-19. It was supposed to be a breeze for the ruling party, the handling of the COVID-19 crisis while having small hiccups was largely successful hitherto. The Government dough out huge payouts to Singaporeans during the crisis. Helicopter money! And according to past experiences, Singaporeans always wanted strong and safe hands to steer them out of the woods.
Yet, Singaporeans voted the most number of opposition candidates into the Parliament since independence. The ruling party lost the second Group Representation Constituency (GRC) after losing the first one in the last election in 2015.