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.

The combination of an already weak global market, low oil prices and prolonged slowdown from China, this triggered a global sell-off. The reverberations from the US and China are felt all the way in the Singapore Markets.

For those who are heavily vested, at the highs, this would be really painful news (i have been in this position in 2011). But if you have been silently watching on the sidelines and growing your war chest, you would be happy that this presents a great opportunity to enter the market.

Many companies with strong underlying fundamentals and resilient management teams will weather the storm and present great opportunities for bottom fishing, when the sell off has bottomed out.

With this, here are the stocks currently in my watch list:

Sembcorp Industry
Keppel Corp

Dream Chaser