Yesterday was a bad day for bourses from Singapore to Seoul (see report in StraitsTimes) and today could be just as bad after the events on overseas markets. It is difficult to see where any rays of light might emerge from and it will be worth keeping an eye on these markets for clues as to what might happen later in the day. Currencies like the MYR, INR and TWD are at multi-year or historic lows and they will continue to fall while doom-and-gloom dominates.