Investors on the Singapore Exchange (SGX) gained greater accessibility to higher-priced stocks starting October 5, as board lot sizes for an initial group of 11 securities were reduced. The changes aim to enhance affordability and encourage broader market participation, particularly among retail and younger investors.
The stocks involved in the first phase are DBS, Great Eastern Holdings, Haw Par Corporation, Jardine Cycle & Carriage, Jardine Matheson Holdings, Keppel, Oversea-Chinese Banking Corporation (OCBC), Prudential, SGX itself, United Overseas Bank (UOB), and Venture Corporation. These companies represented approximately 35% of SGX’s trading volume during the first half of 2026.
For shares priced between S$10 and S$100, the minimum trading unit has been lowered from 100 shares to 10 shares. Stocks trading above S$100 per share now have a minimum trading size of a single unit. The adjustment also applies to stapled securities, real estate investment trusts (REITs), business trusts, company warrants—excluding special purpose acquisition company (SPAC) warrants—as well as depository receipts and shares. SGX has confirmed that once implemented, the reduced board lot sizes will remain in effect even if the stock prices decline below the respective thresholds.
On October 5, the Straits Times Index (STI) closed 0.52% higher at 5,664.33, after rising 0.15% during morning trading. DBS shares rose by 0.8% to close at S$77.83. Meanwhile, OCBC’s stock initially dipped but recovered to close up 0.7% at S$31.88. UOB shares experienced a slight loss of 0.12%, ending at S$43.06. Other stocks on the list saw modest movements: Great Eastern rose 0.3% to S$19.70, Jardine Cycle & Carriage added 0.2% to S$26.55, Keppel increased 0.6% to S$11.11, Haw Par fell 0.8% to S$12.99, and SGX shares dropped 11% to S$20.75.
SGX indicated that the board lot size reduction is designed to reduce barriers to market entry, particularly for retail investors who may have been deterred by the high capital required to purchase pricier stocks. The exchange will conduct quarterly reviews to assess whether additional securities qualify for reduced board lot sizes, with the next review scheduled for January 2027. The evaluation will consider daily closing prices from July to December 2026, and any updates will be announced within five trading days after the quarter's end.
In conjunction with the board lot size revision, SGX, together with the Securities Association of Singapore and the Securities Investors Association (Singapore), launched the Youth Stock Ambassadors Programme. This initiative aims to engage young investors by providing capital market education, industry exposure, and opportunities to interact with ecosystem players. Organizers highlighted that this programme, alongside the board lot adjustments, is intended to lower entry barriers and encourage youth participation in the Singapore stock market.