Singapore's Minister Mentor Lee Kuan Yew said he is not certain what impact a possible US recession will have on Singapore. Although it is not clear whether financial markets will take up to two years to recover from the ordeal, Mr Lee said he feels that China and India may provide some cushion for the slowdown in the US. Asian stock markets took a beating early this week amid mounting concerns of a...
US Economy
Singapore's Prime Minister Lee Hsien Loong said Singapore and Asia can weather the storm, should the US go into a recession. He made the comment at a breakfast meeting with 40 businessmen from the French Business Confederation as he wrapped up his three-day official visit to Paris. The financial markets in the West have been hit by the US sub-prime problems, and that in turn has affected Asia, including...
Investors may emerge to pick up bargains following US rate cut INVESTORS across Asia stared in disbelief as stock markets yesterday haemorrhaged for a second day running on fears that a recession in the United States might plunge the world into its worst financial crisis in decades. The fears prompted the US Federal Reserve to slash its federal funds rate target by 0.75 percentage point to 3.5 per cent...
But this won't dispel bear's shadow over loss-ridden markets WITH the world staring down the throat of what billionaire investor George Soros called its worst financial crisis yet, and its biggest economy driven to possible recession by fallout from sub-prime mortgage losses, the United States Federal Reserve yesterday slashed interest rates by 75 basis points — the biggest cut in 23 years. The central...
Asia is not likely to suffer a downturn over the next two years if the US does not fall into a full blown recession, Lehman Brothers forecast in its outlook for 2008. Investors all across Asia may be nervous about the outlook for the US economy, but the financial services firm is taking a positive stance. Lehman Brothers' global chief economist Paul Sheard said, "A lot of people, of course, are focusing...
FUND managers across the world have turned “super-bearish” over the last month, abandoning hope that Europe and Asia can escape contagion from the United States housing crisis. A Merrill Lynch survey found that a fifth of big investors now expect an outright global recession, an occurrence not seen since the 1930s. Some think the world is already in recession. “The period of denial may be...
IT was the “goblin” that wreaked havoc on markets the world over but come Oct 31, investors may be celebrating Halloween for more reasons than one. The goblin that is the impact of the United States sub-prime mortgage problems could go away as early as then, and growth would return by year-end in time for Christmas, said Mr Ken Fisher, CEO of Fisher Investment. Saying the sub-prime spook had been...