🦎 IGGY MORNING BRIEF, 2 JULY 2026
☕ Good morning. SGX opens at 9 AM SGT.
OVERNIGHT US SUMMARY
US markets fell slightly: S&P -0.22%, Nasdaq -0.66%, Dow flat. Tech and chips led the pullback despite Fed Chair Warsh signalling easing inflation. Profit-taking in Q2's top runners. Brent crude dropped 2.50% to USD 71.13, a fresh low below the USD 72 level tracked through June.
SGX PRE-OPEN PULSE
STI closed at 5,165 yesterday, down ~43 points on the first H2 session. USD/SGD is 1.2952 (SGD soft). The Nasdaq dip, Brent breaking below USD 72, and STI pullback set a cautious tone for today's open.
THREE STOCKS ON IGGY'S RADAR
👁 CICT (C38U): Closed S$2.360. Down 0.42% on ~27M volume. Forensic out now. Yield clears the hurdle, but two balance sheet readings are out of range. Watching the soft REIT environment carefully.
👁 SingTel (Z74): Closed S$4.440. Up 0.68%, outperforming a mostly red income board. Ex-div passed. Cautious on income durability; watching if gains hold in a softer open.
👁 CapLand Ascendas REIT (A17U): Closed S$2.460. Down 1.20% on 21M+ volume. Forensic vs Mapletree Industrial out. Three balance sheet readings out of range. Tracking if support emerges at S$2.46.
IGGY'S GAME PLAN
H2 2026 starts differently: STI down, Brent <USD 72, Nasdaq lower. Broad REIT softness (7 in top 20 actives, mostly lower) against an STI near ATHs is the key dynamic to watch. Maybank trimmed its STI year-end target to 5,500 on energy cost/EPS concerns, though falling Brent cuts the other way. Forensic discipline unchanged: balance sheet first, yield second, narrative last.
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Not financial advice. Iggy's Forensic Compliance Standards apply.