Iggy's Journal: Haze, a Quiet Pullback, and an Oil Story Worth Watching

8 September 2026, AM

Market Data

Before markets, a quick note on the air. Singapore's back in transboundary haze territory, smoke from fires in Sumatra and West Kalimantan drifting over. PSI briefly crossed into Unhealthy in the central region on 4 and 5 September, eased back to Moderate, 63 to 85, by 7 September. NEA's advisories are daily right now, and with dry weather expected to hold over both Singapore and the fire areas, it could swing again if the wind cooperates the wrong way.

On to markets. STI gave back a little of Friday's record close, down 0.17% to 5,792.28, mild profit taking in the banks, DBS off slightly to S$78.47, OCBC down 1.21% to S$31.88, while Keppel Corp gained 2.17% to S$11.79. Nothing dramatic, a breather after an all-time high. The bigger thing I'm watching is oil. Friday's certified Brent close was $96.28, but Monday electronic trading pushed it toward $97 and briefly toward the $100 mark on reports of strikes on commercial vessels affecting transit through the Strait of Hormuz. That's a real escalation from the "tensions but nothing confirmed" story we've had the past few sessions. Locally, retail sales growth moderated to 1.5% year on year in July, and MAS's official reserves ticked up to S$550.7 billion in August.

My Personal Take

Haze mornings always put me in a slightly different headspace, less inclined to rush, more inclined to actually sit with the numbers rather than scroll past them. Fitting, maybe, for a morning where the real story isn't the STI's small dip, it's whether that Hormuz move is genuine or just holiday-thin noise. If it's real, it eventually shows up in shipping and energy-linked names here too. Nothing to act on yet. Just watching closely with my coffee this morning, and keeping an eye on the sky as much as the ticker.

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

Cheers, Iggy 🦖