The bear has bare its fangs on our local stock market. Following the plunge in US equities on Wednesday overnight, local benchmark Straits Times Index (STI) plunged as much as 3 percent to 3,035.2 on Thursday, 11 October 2018. The STI managed to regain some ground to close 2.7 percent in the red at 3,047. The plunge in stocks worldwide was attributed to spiking US bond yields. Investors seem to be pricing in the risks of an imminent recession if interest rates continue to rise and push up borrowing costs. For the time being, the STI is being supported technically by the critical 3,000-point psychological level, giving local investors some reprieve. However, investors are not in the clear yet. At the current level, the STI is 16.5 percent down from its peak of 3,641.65 which was seen in Apr

It is almost unquestionable that Singapore boasted one of the most successful economic stories in the last half century. Through our rapid development, our economy has transformed from a fishing hub to one that is now heavily service-oriented. As Singaporeans rose to achieve one of the highest purchasing powers in the world, Singapore naturally became an ideal destination for retailers to set up shops here. Yet, the irony of falling foot traffic in Orchard Road is the result of retailing becoming highly commoditised and saturated here. No longer in its former glory, Singapore’s prime shopping district is steadily losing its relevance and this should not come surprising. To be precise, while shopping malls and those chain retail stores have sprawled all over our tiny island, retailers are