Sell in May did not occur and STI was generally in consolidation mode for the month. Despite this, I went in and made two purchases. One of which was UOB and the other was CapitaR China Trust. I am an existing holder for both stocks and was accumulating and averaging down. Although I am expecting a worst Q2 results, I could not determine whether the Q2 performance has already been factored into the current price. Both are for long term holdings so the fluctuations during these few quarters won't matter much to me. I will still be able to average down if the price comes down further in the next few months if the fundamentals did not change.

The recession in Singapore will be worse than expected and MTI has revised the