🦎 IGGY CLOSING BRIEF, 28 JULY 2026

🌆 That is a wrap on 28 July. Here is what the session delivered.

SESSION SUMMARY

STI closed at 5,616.1, down 0.07% on the day, essentially flat on the index level. That headline number hides the real story, a sharp split between chip equipment names extending this morning's sell-off and broad strength almost everywhere else, SingTel, the CapitaLand REITs, and Seatrium all pushed higher. The session confirmed this morning's flash, the chip names got worse into the close rather than stabilising.

THREE MOVERS IGGY IS WATCHING

👁 558 UMS, closed down 8.47% to S$2.27

Worse than the "as much as 8.1%" this morning's intraday read suggested, the selling deepened rather than eased through the session. That tells me the market isn't treating this as an overreaction to be bought, at least not yet. Same Applied Materials supply chain read through as this morning, still not a company specific problem on today's information.

👁 Z74 SingTel, closed up 2.49% to S$4.53

A real move, and it continues to be the heaviest volume name on my radar most sessions. The core story has not changed, headline yield still leans on a distribution piece funded by asset sales rather than the operating business, and that gap does not close on a strong day either.

MACRO INTO TOMORROW

Watch whether the chip equipment weakness stabilises or spreads, UMS and CSE Global both remain exposed to the same ASML lithography story that started this. Seatrium's 31 July results still confirm or unwind Monday's jump. Worth checking overnight US chip trading before tomorrow's open.

IGGY'S END OF DAY READ

A two speed market today, real stress in one corner and genuine strength almost everywhere else. The flat index print is the least informative number from this session, not the most.

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