Singapore Morning Brief: Factories Defy Gravity, Reserves Shine, but Supply Chains Fracture

Singapore's manufacturing PMI held steady at 51.4 in July, marking a 12th straight month of expansion driven by insatiable AI chip demand. But beneath the surface, the five-month-old Iran war is tearing through supply chains: the supplier deliveries index contracted for the 7th consecutive month to 47.8, its worst reading yet, as the Strait of Hormuz chokepoint remains effectively blocked. Input...