Singapore is used here as a representative example of a Developed Market (DM) in Asia
I also warned that Asian stock markets' broad markets will cause most people to lose a lot of money during those years while indexes are made to look strong (using strong index to sell the broad markets so that most people lose most money). Indeed, it went mostly true per my fore-warnings.
Most ignorant smart aleck people will had sold off and gotten out wrongly and miss the next major wave of bull markets in Asia. This is like the case of 2H-2012 to 2H-2015 where people in Asia and Europe lost money buying instead of selling in the FED loosening, except that now the reverse is enacting with people selling instead of buying in the FED tightening. This is all mind-ripping for most people in most parts of the world, where they will once again lose money (huge opportunity costs) doing the wrong things because they think by logic, yet their logic are often wrong. Let us see some examples of broad markets generally not selling with indices, using Singapore as a case study. This is where it reflects the real strength and real bull market having a new next wave in Asia.
This was the same case in exact reverse-manner in 2H-2012 to 2H-2015 where DJIA rallied and indexes were strong but caused most people to lose money in Asia and Europe. Except that now, the indexes are used to cause fear to most people at the reverse way. Just like how people were duped by indices and hence lose a lot of money per my forewarnings of 2H-2012 to 2H-2015, people will now miss significant bull rally in Asia for the next few years because they are duped by the indexes once again.