During the past week, the Asian stocks were observed to face a roll down whereas the MSCI Asia-Pacific ex-Japan index has dropped to the mid-480s. In the Wednesday and Thursday trade, the Australian market had hit the several short-term technical downside skids.

Further, Sydney had followed Shanghai displaying a scenario where short-term technical indicators turned negative on Tuesday. In addition, the SSEC had declined 2.7% on the week to 2,696, five points below the third-fan breakout descending-tops downtrend line that it had punctured to the upside earlier in the month.

On the other hand, the Indian exchange has not attempted to follow the Singapore's divergence. On Friday, the BSE Sensex 30 was found to be 2.3% over the period of 18,288.

While commenting on the current market situations which indicate that the week has not been good for employees of international banks, strongly influenced through disappointing results from US and Europe a headhunter said: “Asia is not immune. There will be some redundancies this year, but numbers wise, it won’t be to the same extent as in the US and Europe where headcounts are just that much bigger and markets isn’t doing as well”.