Some Singaporeans adjust spending amid Iran war, but hold on to comforts like air-con
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Since the outbreak of the Iran war, Vignesh Kumaravel's quantitative trading models have struggled to perform due to «extreme volatility» in global stock markets.The quant finance professional, whose job involves coding systems to turn market signSome Singaporeans adjust spending amid Iran war, but hold on to comforts like air-con
Since the outbreak of the Iran war, Vignesh Kumaravel's quantitative trading models have struggled to perform due to «extreme volatility» in global stock markets.The quant finance professional, whose job involves coding systems to turn market signals into profits, said that higher prices have also hit him personally. He and some Vietnamese friends cancelled a trip to Kuala Lumpur after short-haul airfares doubled.«For now, I haven't changed my daily habits or food choices, but I am definitely being more careful with extra spending,» said the 26-year-old.Just as Vignesh fine-tunes his trading algorithms, Singaporeans are adapting their daily routines to cope with the higher prices unleashed by fighting in the Middle East.The Feb 28 air strikes on Iran by the United States and Israel triggered a series of retaliatory responses that have damaged oil and gas infrastructure in the Gulf, as well as the closure of the Strait of Hormuz, a key route for global oil and liquefied natural gas shipments. Read more
