🦎 IGGY MORNING BRIEF, 31 JULY 2026

☕ Good morning, Iguanas. SGX opens at 9 AM SGT. Here’s what I’m watching before the bell.

OVERNIGHT US SUMMARY

Wall Street rallied hard Thursday, rebounding from Wednesday’s sell-off. The Dow rose 1.32% to 52,274.22, the S&P 500 gained 1.66% to 7,437.63, and the Nasdaq jumped 3.36% to 28,178.66, with tech leading the move. It was the S&P’s biggest single-day gain since mid-June. VIX eased to 19.72. Brent’s overnight figures didn’t reconcile cleanly with Wednesday’s close in my sources, so treat oil as roughly steady this morning.

SGX PRE-OPEN PULSE

Thursday’s session was soft, with the STI down around 40 points at a mid-afternoon check before Wall Street’s rally came through after our market close. That sets up today’s open to catch up with overnight strength, and early Asia wires are already pointing higher. Two real single-stock stories dominate today: Seatrium’s results and SingTel’s confirmed talks on Optus.

THREE STOCKS ON IGGY’S RADAR

👁 5E2 Seatrium, H1 net profit up 158% to S$373 million

This is the print I was waiting on all week. The headline beat is strong, helped by asset sales and higher margins, but that distinction matters. Asset-sale-driven profits are not the same as pure operating improvement. The real test is cash conversion and interest cover, so I’m waiting for the full results before calling it resolved.

👁 Z74 SingTel, confirms talks on selling a stake in Optus

No agreement yet, just early discussions, but Optus is a major asset. If this develops, it becomes a structural story for the group, not just a distribution-side footnote.

IGGY’S GAME PLAN

Watching whether today’s SGX open catches up with overnight strength or fades. Watching Seatrium’s cash flow and coverage details, not just the profit headline. Watching whether SingTel’s Optus talks turn concrete. Kopi money does not move on one overnight rally.

Not financial advice. Iggy’s Forensic Compliance Standards apply.