Added Frasers Property Limited Overall, I think the month of September offered a sigh of relief as the fear of EM contagion and trade wars have subsided towards the end of the month. The US market reached all-time high and the Singapore market has rebounded back. It even seems like the more tariffs US enacts, the higher the market goes. At the moment, US looks like it is winning the trade war as there are simply not enough US imports which China could apply the tariffs on. But the longer term effects of trade war have not been felt by the market yet as the increase in price will soon be passed down to the consumer. Given the rising price and increasing interest rates environment, consumer spending will decrease and this will be bad for the economy. This does not imply that there …