Wow...  Although i have talked about a possible correction in my Singapore Stock Market Summary (JUL), I am at a loss for words at the sudden global meltdown and sell-off ! It all started with China's sudden devaluation of its currency to make itself more competitive in the global market. This sparked a mini sell off from its over-inflated stock market.  Coupled by the potential rise in interest rates, we see hot money fleeing from the emerging markets - out of the countries that need it most.

In my previous SG Stock Market Summary in April, the STI closed above its high of 3,500 points. Although the market was experiencing its highs back in April, i cautioned that perhaps it is time that a crash/correction may happen. Fast forward to the end of July, the Straits Times Index closed just above the 3,200 resistance on the 31-JUL. I will not be surprised if it breaks this psychological resistance and goes further on a downward trend. Personally, i feel that the catalyst of the fall