Greece and China to provide main focus

TO say that events in the eurozone took a tumultuous turn over the past weekend might possibly be an understatement.

Although markets in the US closed on a mixed note on Friday, which might have ordinarily suggested a tepid Monday for Singapore, few would have foreseen Greek Prime Minister Alexis Tsipras' surprise move to call a referendum on July 5, which the Greek parliament has approved.

The heightened uncertainty and volatility over the next few days leading up to this pivotal vote - which could determine whether Greece crashes out of the eurozone - is likely to drag down global markets, including the Straits Times Index which has already been languishing in the red for 2015 since the start of June.