🦎 IGGY MORNING BRIEF, 29 JULY 2026

☕ Good morning, Iguanas. SGX opens at 9 AM SGT. Here is what I am watching before the bell.

OVERNIGHT US SUMMARY

Wall Street closed mixed Tuesday. Dow up 1.03% to 52,747.32 and S&P 500 up 0.21% to 7,428.78 on strong Coca-Cola and Boeing earnings, Nasdaq down 0.22% to 24,876.91 as the semiconductor rotation kept running, Micron down 8.8% and AMD down 8.1%. VIX rose 8.25% to 18.24, real caution even with two of three indices higher. That chip weakness is the direct overnight line into UMS and CSE Global here.

SGX PRE-OPEN PULSE

STI last close, 28 July, 5,616.1, down 0.07%. MAS reported a S$20 billion annual profit this morning, investment gains offsetting a hefty currency translation hit from SGD strength, a reminder of how firm the local dollar has run. Brent fell again overnight, though sources disagree materially on the settlement level, treat it as lower and volatile rather than a specific number this morning.

THREE STOCKS ON IGGY'S RADAR

👁 558 UMS, closed down 8.47% yesterday

Overnight Micron and AMD losses confirm this is a sector rotation still running, not a one session scare that should fade at the open. Worth watching whether today extends the slide or the selling finally exhausts itself.

👁 Z74 SingTel, closed up 2.49% yesterday

Still the heaviest volume name on my radar most sessions. The core read has not moved, headline yield leans on a distribution piece funded by asset sales rather than the operating business, strength in the stock does not close that gap.

IGGY'S GAME PLAN

Watching whether the chip rotation extends into Singapore's semiconductor equipment names or starts to stabilise today. MAS's own currency hit is a reminder that a strong SGD cuts both ways, good for imported costs, a headwind for anything priced or earned offshore. Kopi money still buys the same cup either way, that discipline does not change with one index print.