It's the first week of the year, yet there doesn't seem to be much worth celebrating (unless you're waiting for the market to fall before going in). Just today, the STI fell 74 points and some blue chips among them such as Keppel, fell by 6.5%, all in one day. What's happening? Yuan Devaluation The sudden fall for today seems to be the effect of another yuan devaluation. China lowered the midpoint rate of the yuan by 0.5 percent compared to the day before on 6 Jan, which sparked a selloff in the Chinese stock market, reducing the value of the CSI 300 index by 5%, which triggered a 15-minute trading halt and continued to fall further when trading resumed. Poor Chinese Data China's Caixin manufacturing Purchasing Managers' Index (PMI) fell to 48.2, while official data showed the index at 49.7, both ......