We cannot take ownership for coining this phrase. It has been used before to describe the situation prevailing in Asia when nervousness from the US has a spillover effect in the region. The last significant correction which was witnessed by Asian markets was in mid-2006, before a sustained bull run which ended only recently.
Following the Dow Jones Industrial Average hitting an all-time high of 14,000 on July 19, the main Asian markets also marked fresh new records. Hong KongÆs Hang Seng Index climbed to 23,472 on July 24, while SingaporeÆs Straits Times Index surged to 3,665. The Korean KospiÆs historical high of 2004 came one day...
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