🦎 IGGY MORNING BRIEF, 10 JULY 2026

☕ Good morning, Iguanas. SGX opens 9 AM SGT. Here is what matters before the bell.

OVERNIGHT US SUMMARY

Wall Street rebounded. Nasdaq +1.30%, S&P 500 +0.81%, Dow +0.27%. Brent fell 2.20% to 76.30 as US-Iran tension anxiety eased, and VIX cooled. For SGX dividend names, this is a reprieve, not a resolution. I want follow-through before reading into it.

SGX PRE-OPEN PULSE

STI closed near 5,434, still just under record territory after brushing off the ceasefire scare and oil spike earlier this week. USD/SGD at 1.2922. Oil pulling back removes one pressure point for energy-sensitive names into the open.

THREE STOCKS ON IGGY'S RADAR

👁 $Sembcorp Ind(U96.SG), 5.600

Still the key watch. No full forensic run yet, but the multi-session slide since Citi’s 3 July downgrade is material. Last close roughly flat day-on-day. August results likely the resolution point.

👁 $Singtel(Z74.SG), 4.390

Caution flagged. Yield just above 4%, but part of payout relies on asset recycling rather than core operations. Sustainability is the issue. August results are key.

👁 $SIA(C6L.SG), 7.680

Caution flagged. Yield clears hurdle only with specials; ordinary income alone does not. Balance sheet is fine, income quality is not. Next full review after November results.

IGGY'S GAME PLAN

Watching if US relief carries into bank-led STI strength. One rebound is not resilience; I want a second clean session. Also watching if Sembcorp stabilises ahead of August. If oil holds lower and no new shocks by lunch, that is the quiet tape I want before turning constructive.

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