Bleak prospect & still average down so as to buy more shares? This strategy doesn't make sense but is in many stock investment books as an easy strategy.
To put it in simpler terms: Do you Dollar Cost Averaging to buy more shares in a horse wagon company when that industry is in sunset?
Also downside to this strategy in S'pore is transaction cost - it enriches your broker on a somewhat regular basis. It might work for index funds but in my opinion is best to accumulate $ & buy during the recession rather than averaging. There's a season for 'planting' rather than planting all year round.