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Singapore General Elections 2011 & the Stock Market


electionrallyWPserangoonJust a few more days left before the nearly the whole of Singapore gets to vote except for the poor folks at Tanjong Pagar GRC who didn’t get to vote because of the make shift opposition team were late by 35 seconds.

I wonder if the guy timing the lateness or punctuality is using a Rolex and his time is according to the standard time?

Anyway, back to the elections.

This is the election that is going to define if Singaporeans deserve a working democracy or if the citizens here have been cowed into submission to accept a quasi democracy.

I have sold off quite a bit of my stock holdings last week as I anticipate that there could be a negative reaction from fund managers if or when they discover on the 7th that the PAP has lost quite a few seats or even lost the majority. They will withdraw the funds back overseas and the market could dip quite a bit.

Then again the scenario that the PAP wins all the seats and there is no opposition could also pan out as the two opposition members, bravely or foolishly, gave up their relatively safe seats to venture to unchartered territory to try to win a GRC or two. For the people who don’t know the Singapore political scene, Singapore must be the only place on earth where it isn’t a one man one vote system but when you vote, you vote a team of 4, 5 or even 6 people in the team. Even if one is a free rider or you absolutely don’t like one, they still get in.

So I have pre-empted the “sell in May and go away” saying by one week. I will be waiting for an opportunity to go back into the market when things have calmed itself down.

What about you? What do you feel about Singapore’s election and how it will affect the market?

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