Another roller-coaster Quarter we had!
For Singapore and rest of the world the beginning of 2nd quarter was very positive due to good data from US and also Singapore General Election. But what looks like a normal correction became a prolong decline since May 2011.
The Greece crisis had hit the market the hardest, with disappointing US data for the month of May and the end of QE2 in June! What looks like a crisis that the whole world is talking (or waiting) for another recession, the US Economy “surprisingly” show manufacturing expansion more than expected. Together with the approval of loan to Greece, the market had a great one week run! (New IMF head elected, manufacturing expanded, all these happens so coincidence??? hmmm)
With the market in such swinging mood, it really hard to predict or foresee next quarter trend!