As for the Singapore side. I think we might be seeing a mini rally due to the budget announce. I am not sure how long it will last. It could be the much needed 'special news' to push the Singapore stock exchange. But I will still think the market will still go down after that. Hence the mini rally might be a good time to get into short positions.
This is because, the true effect of the economic crisis in Singapore has not been felt in the Singapore economy yet. When we start seeing The Straits Times reporting jobless people are on the rise and businesses are closing down. Means it almost time that economy recovers. And it might be time to go long again.
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