Wow did you guys see the Thai stock market today - plunged 14%. Wonder what happened to Shin Corp & ITV. According to PM Lee, Singapore invested billions in Thailand because the country has good prospects of a growing middle class not predicated on who is the PM of Thailand. While most ordinary Singapore citizens see Thai as a risky place to invest given that they caused the Asian crisis in 1997, our professionals in Temasek Holdings see it as a place suitable for putting our tax payers money in. We should all rest well with these professionals taking care of our money. Our media certainly see no issue at all with the way the citizen's money is managed, no need for questions, no need for transparency.
Anyway, the recent volatile markets have kept me very busy trading on most days. I go to sleep exhausted. Sometimes I do the unthinkable thing of going to bed without reading the Straits Times....I always try to catch up on it during the toilet breaks.
I don't expect this (volatility) to continue for too long. After all the dithering, the markets will establish that the US economy in going into a slowdown and the astronomical property prices some people have been paying for property in Singapore is just not sustainable.