PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Nasdaq outperformed and all major US indices were higher following NVIDIA earnings, while tech did all the heavy lifting with every other sector in the red

IntelliEPI (4971 TT) - Co. expects revenue this quarter and next quarter to rival its record TWD 332mln Q1 level, driven by strong demand for AI data-centre wafers, and maintained its FY revenue growth forecast of 20-40% from TWD 1.08bln last year. (Taipei Times)

Tech

• Nasdaq outperformed and all major US indices were higher following NVIDIA earnings, while tech did all the heavy lifting with every other sector in the red.

Other News

Taiwan’s economy remained on a solid footing in July, supported by the AI-driven boom, with the NDC’s business monitoring indicator remaining “red” for an eighth consecutive month and the composite score unchanged at 41. (Taipei Times)

Frencken Group (FRKN SP) - Co. plans to raise SGD 100mln through a placement of 44.1mln shares at SGD 2.2687/shr, representing a 10% discount and around 10.3% of existing issued shares. (Business Times)

Seatrium (STM SP) - Co. and Petrobras are discussing a potential tie-up to explore offshore natural gas solutions, including liquefaction and exports to Asia and other markets. (Business Times)

This is the standard post-NVIDIA Asian handoff: when the US semiconductor leader reports and tech does all the lifting while every other sector closes red, the transmission into Taipei and Singapore has historically run through the AI hardware supply chain first, foundries, substrate and epitaxy names, OSATs, and precision engineering, rather than the broader index. The pattern to note is narrow breadth: episodes where one sector carries the entire tape have tended to produce concentrated follow-through in the AI-linked peer set at the Asian open while non-tech lags, a divergence that typically persists until either the AI capex narrative is corroborated by further guidance or breadth normalises. IntelliEPI's commentary on AI data-centre wafer demand and reiterated double-digit revenue growth fits the corroboration side, consistent with Taiwan's monitoring indicator staying at boom-level readings for an extended run. The Frencken placement is the other recurring feature of such stretches: suppliers into semiconductor and industrial capex have historically used strength in the cycle to raise equity, and discounted placements of this size have tended to weigh on the issuer near term while signalling management confidence in order books. The Seatrium-Petrobras talks sit outside the AI complex; offshore gas tie-ups of this kind are long-dated optionality rather than near-term earnings events. The follow-ons are whether upcoming guidance from other AI supply-chain names confirms the demand picture and whether the narrow US breadth persists into the next session.