The news hoarding the headlines is the possible default of Greece, which has been in the background until 2 weeks ago. The new attention has brought the STI lower, with many suggesting the possible breach of the 3000 psychological support. As doomsayers will propagate- its all downhill from there.
The world economy is not at its brightest right now, with China and the US reporting a slow down in economic growth. Crude oil (assuming world demand is an indicator of world economy), which traded into the 110s a month ago, has dipped to a frail 93/ barrel.
For Singapore, the imported inflation takes a back seat, but the new concern is a slowdown in world trade, which will take its toll on the economy in time to come. Shipping counters like Cosco and Yangzijiang have reacted, dipping sharply over the last 2 weeks. The current sentiment is extremely grim, but ......