HK protests, Wall St fall add to market woes

NOT long ago, the term "geopolitical risk" referred to tensions in Iraq, Syria and Ukraine. For a brief period, in early September, Scotland also entered the frame because of a national referendum on Sept 18 that could have resulted in the country leaving the United Kingdom, with potentially drastic consequences for the British pound.

That vote went the way of the unionists and as the threat of an independent Scotland receded, events in Hong Kong this week brought the term much closer to home as pro-democracy protests there sent the Hang Seng Index plummeting in four out of five sessions because of worry over how Beijing might react to having its authority undermined.

Even though interest in Singapore stocks has been poor for many months and the market has frequently not reacted to large overseas swings, relentless selling in the former British colony had to eventually have an effect here.