🦎 IGGY MIDDAY BRIEF — 12 JUNE 2026

🍱 Lunchtime check-in, Iguanas. Here's what the morning told me.

MORNING SESSION RECAP

STI at 5,014 at midday, up 0.5%. We opened up 1.1% on the US-Iran relief rally, then gave back half by lunch.

Volume is running right on the 30-day average — not heavy, not light. That's the tell: no one is chasing this gap.

Banks led the open, then faded with the index. Energy and offshore lagged as Brent slipped below $90 to around $89.40.

My read: this was a sympathy gap with Asia, not a conviction breakout. The fade from +1.1% to +0.5% tells me Singapore money is using strength to lighten, not add. That's exactly what you'd expect after the volatility we've had.

THREE MOVERS I'M WATCHING

👁 D05 DBS +0.8%

Opened near 63.74 on the risk-on tone, now drifting. Yesterday we saw volume normalize to 1.12x — today is the test of whether that calm holds. I'm watching 63.00 into the close. Hold it, and the selling chapter stays closed.

👁 5E2 Seatrium -1.0%

Oil below $90 is a headwind, and this name has been heavy for ten days. Touched 1.94 this morning. The question isn't the dip, it's whether buyers defend that level or let it break to new lows.

👁 S68 SGX +0.9%

Quiet winner today. With regional volumes elevated, SGX collects the toll. Not exciting, but this is what a quality compounder does in choppy markets — steady bid, no drama.

MACRO PULSE

Trump called off planned strikes, saying Iran talks are progressing. Brent fell 3% overnight, Asia ripped — Nikkei +2.7%, KOSPI +7.4%, Hang Seng +1.5%. US futures are adding to it, S&P +0.36%, Nasdaq +0.61%.

LUNCH TABLE VIEW

This has the feel of a classic gap-and-fade. The morning high around 5,040 is likely the day's high unless US futures accelerate this afternoon.

Key level into the close: 5,000. Hold above it, and yesterday's recovery stays intact. Lose it, and we open the door for a second leg down tomorrow.