The Singapore stock market with the national Straits Times Index (STI) crashed 2.64% in a single day today (August 12) and even bottomed out at 3,060 (-2.95%) in the morning today. Singapore’s economy is currently facing a downturn with a decline of 4% in GDP from yesterday’s official announcement. The Singapore currency is also currently trading at its 5-year low against the US dollar.

Screenshot of STI from Yahoo
Screenshot of STI from Yahoo

Analysts attributed the crash to China’s monetary policy which have increased money supply and devalued the yuan to prevent a financial crisis in China.

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