Imac

Samsung reported amazing profits but the South Korea market collapsed another 8% after opening bell due to AI bubble fears and Korean traders playing with margins. Back home, the STI rose another 1%, with local banks continuing the bullish charge.

🦎 IGGY MORNING BRIEF, 24 JUNE 2026

☕ Good morning, Iguanas. SGX opens 9 AM SGT. Here is what matters before the bell.

OVERNIGHT US

Wall Street sold off. S&P 500 -1.44%, Nasdaq -2.21%. Drivers: semiconductor weakness, rising skepticism on debt-funded AI spend, and hawkish Fed repricing with October hike expectations firming.

US–Iran framework deal announced but execution unclear; Hormuz conditions still evolving.

Brent at US$77.90, now below 80.

Read-through: tech risk off, attention rotates back to dividend payers.

SGX PRE-OPEN

STI last at 5,204.01 (June 22), about 22 points off the 52-week high. Likely cautious open.

USD/SGD ~1.2970.

Lower oil eases broad cost pressure but weighs on energy names.

IGGY RADAR

D05 DBS

Transitional CET1 16.9% (1Q26, company briefing). Capital return through end-2027. Balance sheet remains the anchor in a risk-off tape.

O39 OCBC

Transitional CET1 17.0% (1Q26), strongest of the three. Zone 1 on balance sheet strength, not yield. Trailing yield still below Iggy’s 4.7% hurdle; income case improves on price weakness or dividend uplift.

U11 UOB

1Q26 CET1 15.3%, NIM 1.82%. >20m shares bought back under S$2B programme. Most conservative allocator. Zone call pending Aug 7 results.

GAME PLAN

Key question: do banks hold as a relative safe harbour while tech unwinds? If yes, defensive income thesis holds. If not, the open will show quickly.

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Trump just posted on X that he has reached an agreement with Iran to "highest level Nuclear inspections long into the future" and that Strait of Hormuz is now open without Naval blockade, with about 19 million barrels of oil flowing out yesterday. I don't know how much truth there is in his words, but it seems that he is trying to calm the stock market. I personally is no longer as emotionally affected by his words anymore as we all know from time to time again that what was agreed upon may change within days, if not hours.

STI remains strong while the US market is dumping. Are people wrong for overlooking our own local market? Investing in the S&P will definitely still yield better returns over time, but the currency risk & volatility should not be underestimated as well. STI tends to hold better in downturns, while consistently delivering decent if not even better than expected returns in recent years.

Micron Technology remains well positioned for long-term growth as AI infrastructure spending, strong HBM demand, and favorable memory pricing continue to act as powerful tailwinds.With expectations running high ahead of earnings, the stock’s next move will likely depend on management’s guidance rather than the reported results alone

While strong results and higher guidance could drive further upside toward the $1,300 range a report that merely meets expectations may trigger profit-taking and increased volatility.

It is hard to see a clear end to the US,Israel and Iran tensions right now. Energy prices will stay high for sometimes and the economic impact could be tough.

Honestly feeling quite pessimistic. 2026 looks like a challenging year ahead.

Happy trading and keep more cash to buy more when there is a correction. Do not chase and buy now.😁

Apple is working on an iMac refresh for this year with a slew of new colors.

Source: Mark Gurman

$Lowes(LOW.US) potential temp top stick today at overbought. I moved up my stops a bit and will deal with pullbacks. 10ema and gap a likely spot to back test. See it first

Source: Sunrise Trader