The Standard, 1 Dec 2008, Benjamin Scent
Financial deleveraging in the West could easily exceed US$12 trillion (HK$93.6 trillion), analysts said, and the phenomenon could spread to Asia as hedge funds are forced to unwind their trades and dump their holdings on the market to quickly raise cash.
With the markets so volatile, it is "too late to sell, too early to buy," analysts at Nomura wrote in a trading note. "Just hang in there until year-end," they said. "Nothing to do in equities. Remain cash, remain defensive."
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