OngHuatHuat
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Similar things happen in Singapore as well, just that it is not as severe.
No it isn't. Japan's domestic consumption is around 60% of GDP, while SG's is barely 1/3 of the economy.
Besides, Japanese stocks and real estate were at ridiculous valuations in the 90s, the crash was inevitable and it merely took the Nikkei's P/E down from a sky high 70 to 20, real estate prices also crashed nearly 80% in Tokyo but Tokyo real estate is still one of the most expensive in the world, that alone should tell you what went on in the 90s.
Unless you expect STI's P/E to halve from current levels (~13) and property prices to crash 90% here, there is no sense in trying to compare the 2.

