I am leaning towards the cautious side for now. One green session does not mean the chip selloff is over, especially after eight consecutive sessions of declines. I remain positive on the long-term AI and semiconductor growth story, but valuations, financing costs and market sentiment still matter. I would rather see the stocks reclaim key technical levels and form a stable higher low before becoming more aggressive. For memory stocks, the potential cycle bottom is encouraging, but I do not want to mistake a relief rally for a confirmed reversal.

For Singapore, I am keeping an eye on fundamentally strong banks like OCBC, while remaining cautious about S-REITs as they continue to make new lows. I believe patience and disciplined accumulation are more important than trying to catch the exact bottom. With Nvidia’s GTC and several major earnings reports ahead, the next few sessions could bring more volatility. My approach remains simple: focus on fundamentals, respect technical signals, and avoid chasing short-term rebounds.