BREXIT 24 June 2016 - Impact on Singapore

[brattzz]

BREXIT is done deal, let's see what's the impact on singapore? 

Gov's mouth piece:
1) GIC's investment - Half of investment in EU is in UK - Vivian
2) MTI’s assessment is that the medium- to long-term direct impact of Brexit on the Singapore economy is likely to be modest

SGX Listed Companies,
2.1) ComfortDelgro
2.2) City Development
2.3) Ho Bee

More more more!

[BlueKelah]

@bratzz

Japan down almost -8% yesterday.
overnight big falls in European and US markets. 

Europe : Italy and Spain -12%+, germany/france 7-8%+
US market down ~-3.5%+

Would say this sell-off slightly worse than last year YUAN devaluation sell off. All the central bankers try to talk it down and say will support by injecting funds (take the chance do more QE), saying dont worry, liquidity not an issue, stock markets are working well, etc etc.

Now Scotland wanna split (matter of time) so no more UK. Other EU country also wanna split soon, Spain election next week seems no leading party it had no government since december last year. So EU and UK both CRAPPING out. Loss of confidence in EU/ECB and the economy there..

Question is will the contagion spread to China as well? EU is one of their biggest market, already slowdown in China, with a EU hit to export, what will happen to YUAN and CHina economy??? 

So other than the long queue outside money changer in singapore and shock to STI, the real effect of BREXIT will depend on what happens to China which will then impact Singapore in an indirect manner