Penghua Dow Jones Industrial Average ETF(QDII)

The Iran US 60 days ceasefire has ended and immediately there were reports of explosion and ship struck in the Strait of Hormuz. Trump also said on social media that there are no talks or conversations going on, or scheduled, with Iran, which could be one of the various reasons why the market indexes are pulling back slightly amidst the push for newer highs.

Memory and optical-chip stocks outperformed despite broad market weakness, reflecting growing expectations that AI infrastructure demand could intensify memory shortages. Musk’s comments and US concerns over Apple’s potential China sourcing further supported the sector. Meanwhile, the S&P 500, Nasdaq and Dow declined modestly as renewed shipping uncertainty and oil prices above $90 raised concerns over inflation and economic risks. The divergence highlights strong AI-related demand amid a more cautious macro backdrop.

AI and semiconductor demand continue to drive the market, with strong growth in memory, semiconductors and AI infrastructure. The market continues to favour companies with strong earnings, pricing power and clear exposure to AI driven growth.Geo higher oil prices and global growth concerns are adding some uncertainty. While Singapore’s resilient economy and strong trade performance remain supportive, a disciplined approach and focus on quality companies with strong fundamentals and sustainable growth remain important

Recently the markets are uncertain of their movements. Either up in the few hours then drop. So invest safely DCA.

The market likes to hear what they want to heard and Musk gave them an excuse to rally the memories hard. The pace of fund rotation seems to pick up and those chasing highs need to manage their risk well.

A healthy bullish market always have periods of shallow pullbacks and then bursts of upward movements or rallies. Looks like we are having a pullback which is much needed. The market needs to breathe too.

They always say ‘The market does not go up in a straight line’. This market still looks like it wants to go higher and if it keeps having shallow pullbacks, then the trend is up.

Memory stocks edge higher, back to near all time highs as Musk's words triggered massive buying into the sector. Wednesday's FOMC meeting minutes will be interesting as reports suggest that there may be a 0.25 basis point rate hike by end of this year, which is considerably better than initially expected.

📌☕️Woohoo last session was interesting but in less than 2 hours I can go sleep soundly like a baby. To win hard will take a higher risks as no risks no gains right, but beware falling down hard on ground is also no jokes as we just finished taking a roller coaster fun ride only last month. Plenty opportunities if our thesis is heading as per se, but how much risks one is willing to undertake is very subjective. Get your funds ready and hit that jackpot right🎰🦖🎯🎯

Selected AI stocks are still doing very well, indicating this AI wave still have a long way to go. But one has to be increasingly selective.

Waiting for fomc. Chips running high… beware of hardfall

🦎 IGGY MORNING BRIEF, 18 AUGUST 2026

☕ Good morning, Iguanas. SGX opens at 9 am SGT. One item today deserves real attention before anything else.

OVERNIGHT US SUMMARY

Wall Street retreated Monday. Dow down 0.51% to 53,459.78. S&P 500 down 0.52% to 7,745.06. Nasdaq down 0.32% to 26,644.91. Brent crude pushed above US$90/bbl after the 60-day US-Iran peace framework expired and fresh drone attacks hit tankers in the Strait of Hormuz, reviving inflation and stagflation fears. Soft US macro data scaled back rate cut bets; 30-year Treasury yields jumped to 5.29%. VIX rose to 14.90. For SGX, the oil and shipping risk story is the one to watch closely—it carries real cost implications beyond one day’s index move.

SGX PRE-OPEN PULSE

USD/SGD sits at 1.2781. STI’s session yesterday is worth understanding properly: it opened down almost 1% on bank profit-taking (OCBC alone fell over 2% early), then recovered through the day to close up 17 points. A genuine intraday reversal, not a quiet flat session.

SINGAPORE NEWS ON IGGY’S RADAR

📦 July NODX surged 24.2% YoY

Electronics exports drove it, up 112%; disk media products alone up over 300%. This beats the already-upgraded 14–16% full-year forecast comfortably in a single month. A genuinely strong print, not just headline noise.

📊 SGX Group confirms record FY2026, 57¢ full-year dividend

Cash equities daily value rose 35% to an 18-year high; second-half earnings rose 39%. This is a real, confirmed dividend outcome off a record year, not a projection. Given how strongly SGX has benefited from record trading volumes and STI highs this year, this deserves a proper look rather than a passing mention.

IGGY’S GAME PLAN

Two threads to separate clearly today. The oil and Hormuz story is a genuine risk—worth tracking daily, not a one-day blip. Yesterday’s bank-driven dip and recovery reminds us that even a calm-looking close can hide real volatility underneath; check the full session shape, not just the headline, before drawing conclusions.

Looks like money is rotating back to AI and specifically stocks that benefit from the buildout after they retreated in a healthy pullback.

AI investments are still bullish across the board. Investors all want a pie of it. FOMO and leverage will push AI related stocks higher. But isit bubble?

☕️ Nividia trimmed its OpenAI’s massive bet to ease risk concerns, while unveiling a $21B SpaceX stake — two giants rubbing each other’s backs, balancing AI risk with cosmic ambition. 🚀

Today launched 2 major 🚀🚀 Falcon 9 simultaneously, at only 38.5 minutes apart. By EM at X. Hope this is another good week!

Singapore's non-oil domestic export value rose 24.2% year-on-year in July, continuing the 20.8% increase from June, driven by a surge of 112% in electronics shipments due to strong demand for hard disk drives, personal computers, and chips.

If the Middle East situation stabilizes and oil prices fall, increasing exports of petroleum processed products, the economic situation will improve further.

We remain bullish on Singapore's stable growth prospects.

🦎 IGGY MORNING BRIEF, 17 AUGUST 2026

☕ Good morning, Iguanas. SGX opens at 9 am SGT. Milestone week done, live data due today.

OVERNIGHT US SUMMARY

Wall Street pulled back Friday. Dow −0.20% to 53,732.41. S&P 500 −0.17% to 7,785.76. Nasdaq −0.28% to 26,729.16. Weaker retail sales and softer consumer sentiment pointed to cooling demand. Crude oil ticked higher on US naval enforcement around Gulf shipping routes, reviving inflation worries. VIX eased to 14.46. For SGX: a pause, not a reversal.

SGX PRE-OPEN PULSE

USD/SGD: 1.2778. Brent: ~US$87.20/bbl.

SINGAPORE NEWS ON IGGY'S RADAR

📈 STI notches 10th straight weekly gain, closing at 5,743.59

Up 0.79% on a holiday-shortened week; YTD now +23.62%, after touching an all-time intraday high of 5,774.21. Ten consecutive weekly gains is a long run. Implication: caution, not excitement. This is when yield discipline matters most.

🏦 Brokerages update bank target prices after Q2

RHB raised DBS to S$81.20; UOB Kay Hian set OCBC at S$33.35; RHB upgraded UOB to Buy at S$46.60. All three banks earned target upgrades despite NIM compression, offset by wealth and fee income. Key takeaway: bank earnings are now a fee/wealth story, not purely a rate story.

📊 July NODX data due today at 8.30 am

Releases before the open. Follows Enterprise Singapore's FY export growth forecast upgrade to 14–16%. Today's print is the first real test of whether that upgraded outlook holds in the monthly data.

IGGY'S GAME PLAN

Ten weeks of gains and near-record highs mean more caution on chasing yield, not less. A rising tide lifts prices faster than distributions. Bank upgrades confirm: this is a fee and wealth story now. NODX at 8.30 am is the one hard data point that could move markets.

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