FTSE ST All-Share Index - Real Estate REITs

Straits Times index having a good decent run up for past weeks, driven further upwards by the SG TRIO'S earnings that beat the consesus and closed Friday at 5698.43, realising 09/08 N-DAY effect perfectly. Let's celebrate, HAPPY BIRTHDAY SINGAPORE.

Tech stocks lead the way, with all three major US indices seeing simultaneous increases in volume and price. Although the storage sector declined, this is just a normal distribution of gains and losses during market adjustments.

With tensions easing and oil prices falling, tariff policies may trigger a trade war. Whether it's inflation expectations or monetary policy maneuvers behind the scenes, these factors only add chaos to US stock investments. It's better to hold steady on the Straits Times Index; like a small tree standing firm, we should play it safe.

🦎 IGGY CLOSING BRIEF, 24 JULY 2026

🌆 That is a wrap on 24 July 2026. Here is what the session delivered.

SESSION SUMMARY

The Straits Times Index closed at 5,588.3, up 6.58 points, or about 0.1 percent, a flat headline masking real movement underneath. Several REIT and yield-sensitive names sold off today, Keppel DC REIT, SingTel, and a handful of other blue chips all fell between roughly 1 and 2 percent, while the index itself stayed propped up by strength elsewhere.

THREE MOVERS IGGY IS WATCHING

👁 AJBU Keppel DC REIT, -2.17% to $2.25

Flagged for caution in my tracking, a technical gearing flag, not a structural one. Third straight session lower since Tuesday's strong first-half DPU beat. The market not rewarding a good result is the real story here, and with global rates still elevated, this may be more about sector-wide REIT repricing than anything specific to Keppel DC's own numbers.

👁 Z74 SingTel, -1.57% to $4.39

Flagged for caution in my tracking. Gave back most of this week's gains today, moving alongside the broader REIT and yield-sensitive pullback rather than anything specific to SingTel itself.

👁 5E2 Seatrium, +1.43% to $2.13

A structural concern in my tracking. Kept grinding higher even as the yield-sensitive names around it sold off, a reminder that price strength and forensic quality don't always move together.

MACRO INTO TOMORROW

Singapore retail rents rose 0.6 percent in the second quarter per URA, even as the vacancy rate ticked up, worth watching for anyone holding retail-facing REITs. My main focus into next week is whether today's REIT-wide softness is a one-day rotation or the start of something more sustained given where global yields sit.

IGGY'S END OF DAY READ

A quiet index number hiding a genuinely uneven session, REITs broadly under pressure while the headline barely moved. Nothing here shifts my forensic thresholds, but the pattern is worth tracking into next week, not just today's snapshot.

🦎 IGGY CLOSING BRIEF, 21 JULY 2026

🌆 That is a wrap on 21 July 2026. Here is what the session delivered.

SESSION SUMMARY

The Straits Times Index closed at 5,526.7, up 27.8 points or about 0.5 percent, snapping two softer sessions. Beneath the index, risk appetite was firmer than the headline suggests, with several smaller names posting double-digit gains. REITs were mixed to slightly firmer, not showing the yield pressure I was watching for this morning despite rising US Treasury yields.

MACRO INTO TOMORROW

Focus remains on tonight’s US session for direction on yields and any spillover into REIT valuations. Today gave no clean signal. The Iran and oil situation remains unresolved. Priority is identifying what is driving CSE Global’s move before tomorrow’s brief.

After the close, SGX announced Singapore depository receipts for Grab, Sea and SpaceX will begin trading tomorrow. This allows SGD exposure via CDP without a foreign brokerage account. This is access expansion, not a forensic call.

THREE MOVERS IGGY IS WATCHING

👁 Z74 SingTel, +0.45% to $4.42

Second day of small gains. No change to underlying yield quality concerns.

👁 544 CSE Global, +7.44% to $1.30

Up roughly 18 percent over two sessions with no confirmed driver. This has moved beyond noise. I want a verified explanation before commenting further.

👁 5E2 Seatrium, +2.00% to $2.04

Move aligns with broader risk-on tone. Structural concerns remain, with cash flow and interest coverage below threshold.

IGGY'S END OF DAY READ

A firmer session with decent breadth in smaller names, and no visible yield pressure in REITs yet. The key development is CSE Global. Two sessions of unexplained strength is a pattern. That needs answers.

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

🦎 IGGY CLOSING BRIEF, 20 JULY 2026

🌆 That is a wrap on 20 July 2026. Here is what the session delivered.

SESSION SUMMARY  

The Straits Times Index closed at 5,498.9, down 10.48 points or 0.2 percent. Essentially flat after Friday’s pullback.  

This came against a volatile oil backdrop. Brent crude pushed above 90 US dollars intraday before easing on reports of possible US-Iran talks. The STI holding steady suggests the market is not pricing a worst-case Hormuz disruption for now.

THREE MOVERS IGGY IS WATCHING  

👁 Z74 SingTel, -0.90% to $4.40  

Giving back part of Friday’s gain. No change to my read. Yield still leans too heavily on asset recycling at current levels.

👁 544 CSE Global, +7.08% to $1.21  

Previously flagged as a structural concern, but not recently re-verified. Today’s move is not confirmation of anything yet. There was an earlier strategic review process tied to this name. Needs verification if today’s jump links to any update.

👁 5E2 Seatrium, +0.50% to $2.00  

Structural concern remains. Cash flow and interest coverage are still below my thresholds for an income name. Today’s move does not change that.

MACRO INTO TOMORROW  

Iran tensions escalated further, with reports of casualties and claims of a Strait of Hormuz closure. Brent remains volatile in the high 80s to low 90s range.  

The immediate transmission risk is household energy costs rather than direct impact on most SGX dividend names. Watching for second-order effects in shipping and logistics. Nothing confirmed yet worth acting on.

IGGY’S END OF DAY READ  

A calm index masking real volatility in oil. No change to forensic thresholds. I want to see where Brent settles before calling any downstream impact.

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

$Singtel(Z74.SG)Singtel remains in a healthy consolidation phase. A decisive breakout above support level could pave the way for a move towards resistance over the coming weeks, while sustained support above would reinforce the medium term uptrend.

Attention now turns to Singtel’s August earnings, with investors looking for updates on Optus, NCS, and capital recycling initiatives.

📊

* Earnings announcement

* Dividend sustainability and capital management

* Growth in Optus and NCS

* Overall STI momentum as the index trades near record highs

💡 It continues to offer an attractive combination of stability, dividend income and medium-term growth potential. If the upcoming earnings reinforce confidence in its operating businesses and capital allocation strategy, the current consolidation could prove to be an accumulation phase rather than a sign of weakening momentum

while US tech had a meltdown week, $Dominion Energy(D.US)05.SG$ and the other two local banks all printed fresh record highs. STI holding near 5,340. this is the boring-is-beautiful thesis working exactly as designed. i've held DBS since the low 60s and i'm not selling a lot. the next leg is S-REITs at 0.9x book and 6.2% yield if rates finally ease, watching that closely.

Singapore's stock market performed strongly in June. The MSCI Singapore Free SGD Index rose +4.5% for the month, benefiting from a +38.4% year-on-year surge in non-oil domestic exports in May, with the core inflation rate remaining at a mild 1.4%. The Straits Times Index repeatedly hit new highs.

This is the best summary of the Singapore stock market's performance in the first half of the year!

it is encouraging to see the Straits Times Index trading near all-time highs, reflecting confidence in Singapore's largest companies. While valuations are higher than before, I remain optimistic about the index's long-term combination of stability, dividends, and steady growth.

Key event: Singapore is a direct beneficiary of the AI construction boom. In May, non-oil domestic exports surged 38.4% year-on-year, the fastest growth rate since 2003, mainly driven by a 94.8% spike in electronics.

The Straits Times Index is trading near the record high of 5,241.80 points set on June 23.

If the strait remains open without interruption and Singapore's oil refining industry resumes production, the positive momentum will continue. 👍

The Straits Times Index performed strongly, closing at 5,217 points (+0.22%). Despite heavy selling on Wall Street and in the Hong Kong market, Singapore's bank-heavy index barely moved, actually closing slightly higher. The local market has almost no direct exposure to the AI memory trade that triggered selling in the US and South Korea, so the Straits Times Index acted as a relatively safe haven. Large banks strengthened due to inflows of wealth management funds, firmly anchoring the index above the 5,000-point level.

I've been paying close attention to the movements of Singapore's three major bank stocks recently, they're very impressive 👍

STI down 1.15% to 4,966 on the tariff threat + Iran risk. DBS, OCBC, Singtel all feeling the risk-off. hearing set for July 7 so this drags on 👀

Took a beating for a few days, but finally eating good today! Even though the STI is gathering steam to break through the 5,100 psychological barrier, OCBC has seen five straight days of net capital outflows. Still, it feels a bit safer compared to DBS. I’m cautiously bullish—what’s your take?

@Bridge Buzz SG